1. Silver futures must be delivered at that time. The time of general silver futures contract is 1 year; Spot silver is not compulsory and can be held indefinitely.

2. There are fluctuations in silver futures, and the latest fluctuation range of silver futures is 7%; Spot silver can go up and down without limit.

3. The margin ratio is different. Shanghai Futures Exchange stipulates that the minimum trading margin for silver futures is 7%, which is about 1.4 times leverage. At present, the highest leverage of domestic spot silver is 50 times, and 2% margin can be traded.

4. Silver futures is a matching trading system, that is, someone can sell you before you can buy it, and someone can buy it before you can sell it; Spot silver is a market maker's trading system, which can be bought and sold immediately.

5. The trading time of silver futures is the same as that of stocks, as long as it can be traded at 9: 00-1:30 in the morning and 13: 30- 15: 00 in the afternoon (it can't be traded on Saturday and Sunday); Spot silver can be traded for 22 hours except the settlement time is 4: 00-6: 00 in the morning (except Saturday and Sunday).