Futures trading is a centralized trading form of standardized forward contracts. The ultimate goal is not the transfer of commodity ownership, but to avoid spot price risk by buying and selling futures contracts. Futures trading is a new trading method developed by trading in the futures exchange on the basis of spot trading and standardized futures contracts.

Spot trading refers to the way in which buyers and sellers trade goods for the purpose of physical delivery. According to the different delivery time, it can be divided into spot spot transaction and forward spot transaction. Spot spot trading is to buy now and sell now, and the money and goods are clear, that is, the seller who owns the goods and is ready to sell them immediately meets the buyer who owns the money but wants to get the goods immediately and makes a deal immediately.

1, trading mechanism.

Futures crude oil and refined oil: there is a short-selling mechanism, two-way trading can make a profit, and both ups and downs have profit opportunities. T+0 trading system. You can open positions many times on the same day, but there is a delivery date, and you must deliver when it expires, otherwise you will be forced to close your position or deliver things. At the same time, when the margin is insufficient, it will also be forced to close the position.

Spot crude oil and refined oil: there is a short-selling mechanism, two-way trading can make a profit, and both ups and downs have profit opportunities. T+0 trading system. You can open and close positions many times on the same day, without delivery restrictions, and you can hold them indefinitely. However, when the margin is insufficient, it will be forced to close the position.

2. Trading funds

Futures crude oil and refined oil: margin trading with leverage ranging from 8- 12.5 times.

Spot crude oil and refined oil: margin trading, with leverage ranging from 20 to 33.3 times.

3. Trading time

Futures crude oil and refined oil: trading hours are from 9: 00 am to 165438+ 0: 30 pm to1:30 pm to 3:00 pm. Due to the short trading time, it is not in line with the international gold price, and the phenomenon of gap is frequent. Investors can't enter the market in the early stage. It's easy to miss the opportunity to get in and out.

Spot crude oil and refined oil: 6: 00 am in summer time to 4:00 am the next day.

Step 4 increase the quota

Futures crude oil and refined oil: according to different futures varieties, the increase or decrease is limited to 3%- 15%.

Spot crude oil and refined oil: no increase limit.