Many people simply classify spot and futures as one category. In fact, there are still many differences between spot and futures, mainly in the following aspects:

First, the attributes are different.

The object of spot trading is the actual goods that already exist in the market. Spot electronic transaction is to unify the existing commodities (spot) through e-commerce and call auction on the Internet according to certain standards, and the trade attribute of commodities is greater than the financial attribute.

The object of futures trading is futures commodities. At present, non-existent commodities refer to the matching bidding between futures commodities and a standardized forward contract, and the financial attribute is greater than the commodity trade attribute.

Second, the transaction contract is different.

Futures trading contracts are mostly industrial materials and financial assets, while spot trading contracts include basic materials such as agricultural products, Chinese herbal medicines and metals.

Third, the margin ratio is different.

The margin ratio in the futures market is about 5%- 10%, with low margin ratio and large leverage, which amplifies the risks and benefits of investment. The spot market margin is usually around 20%, and it will be increased under special circumstances (continuous ups and downs, near delivery, etc.). ), moderate leverage and moderate risk.

Fourth, the trading base is different.

The smallest unit in the futures market is the hand. Under normal circumstances, each contract represents goods of 10 tons or more, that is, the trading base of the futures market is calculated in tons, and the threshold is higher, while the smallest unit of the spot electronic trading market is the hand, and each contract represents goods of several kilograms to several hundred kilograms, that is, the trading base is calculated in kilograms, and the threshold is lower.