The difference between stocks and funds:

1. The issuing entities are different. Stocks are issued when a joint-stock company raises capital, and non-joint-stock companies cannot issue stocks. Investment funds are issued by investment fund companies, which are not necessarily limited by shares. The laws of various countries stipulate that investment fund companies are non-bank financial institutions and must have a financial institution among their sponsors.

2. The deadlines are different. Stocks are equity certificates of a joint-stock company. Its duration is consistent with the company, and shareholders cannot withdraw their shares midway. Investment fund companies act as agents for public investment and financial management. Regardless of whether the fund is open or closed, investment funds have a limited time limit. When they expire, they must repay the investment in proportion to the shares held by investors based on the net assets of the fund.

3. The risks and benefits are different. Stocks are an investment method in which stock buyers directly participate. Its returns are not only affected by the operating performance of listed companies and market price fluctuations, but also by the overall quality of stock traders. Its risks are higher and its returns It is also difficult to determine. Investment funds, on the other hand, are run by experts and make collective decisions. Its investment form is mainly a combination of various securities and other investment methods, and its returns are relatively average and stable. Since the fund's investments are relatively diversified, its risk is smaller. Its return may be lower than that of some high-quality stocks, but its average return is no worse than the average return of stocks.

4. The rights and interests of investors are different. Although both stocks and funds enjoy the company's operating profits as investment shares, fund investors appear as entrusted investors. They can withdraw their entrustment at any time, but they cannot participate in the operation and management of the investment fund, and the holding of stocks People can participate in the operation and management of joint-stock companies.

5. Different liquidity. There are two types of funds. One is closed-end funds, which are somewhat similar to stocks. Most of them are circulated in the stock market. Their prices also fluctuate with the stock market. Their operations are not much different from stocks. The other type is open-end funds, which can be bought and sold over the counter of the fund company at any time, and their prices are basically the same as the net assets of the fund. Therefore, funds are more liquid than stocks.

The difference between stocks and futures:

1. There are fewer trading varieties in the futures market, and there is relatively little fundamental information, and they can all be consulted on the public media; stocks in the stock market The number is large, and the information of each stock needs to be researched, and it must be matched with the comprehensive index. There is often a situation of "making money by the index but losing money".

2. Looking at the overall price fluctuation range, soybeans have basically fluctuated between 1,700-4,000 over the past ten years, and copper has fluctuated between 13,000-33,000, that is, the highest price is only 2-3 times the lowest price. , the level of futures prices is closely related to the spot price; as for stocks, due to the different quality of individual stocks and investor preferences, the stock prices in mature markets are as low as 0.01 yuan, and as high as hundreds of yuan or even higher. Moreover, it is difficult to have a unified price level. Measuring benchmarks.

3. In futures market operations, you can buy and sell on the same day, that is, T+0 trading. If you find an operation error, you can close the position immediately and leave the market; in stock market operations, you can buy on the same day and sell on the next day, that is, T+1. In trading, even if an operation error is discovered during the day, you can only watch the closing and cannot do anything.

4. The trading result of the futures market is a "zero-sum game" (excluding transaction costs). From the perspective of participants' losses, regardless of handling fees, half of the people in the futures market always make money and the other half lose. People lose money; the trading result of the stock market is "maximum win and loss", and the systemic risk of the stock market cannot be avoided at present.

6. Looking at the single-day price fluctuation range; futures are generally only 3% -5%; stocks are currently 10%, and as the market matures, the stock price limit will be lifted. .

7. From the perspective of risk monitoring, the varieties traded in the futures market are mostly bulk agricultural products or industrial raw materials, which are related to the national economy and people's livelihood. Price fluctuations are monitored by the exchange, the China Securities Regulatory Commission and even the relevant ministries and commissions of the State Council; while stocks Due to the large number of listed companies, currently more than 1,400, the formation of stock prices is governed by a variety of factors. It is very difficult to determine the reasonable range of price fluctuations and to implement effective supervision. Price manipulation has been repeatedly prohibited in the market.

8. From the perspective of pricing basis and price order, the price of commodities in the futures market is based on value and fluctuates with supply and demand. There is also spot stock as a reference, and relatively speaking, it is controllable by both long and short parties. The resources are unlimited, and both long and short parties have equal status. No party dares to act deviantly from the spot price, and the market operations are open and transparent. Daily transactions and positions are announced to the outside world. There are few insider transactions and it is difficult for large players to manipulate; and Detailed information on stock market operations is difficult to obtain and insider trading is common. Since the tradable shares of a stock are relatively limited, the "banker" of the stock can use its own information and financial advantages to intervene secretly in advance and collect most of the chips. It can relatively control the "pricing power" of the stock price, and those who are the banker and those who follow the banker can The status is seriously unequal, and there is often a serious disconnect between price and value. It is generally difficult to shake the market makers and latecomers.

9. The futures market is an open market with many influencing factors and a wide range of knowledge requirements, while the stock market is relatively closed and requires a more timely understanding of the situation of microeconomic entities.

10. The margin trading system of the futures market allows investors to "take small risks to win big". As long as the operation is done properly, they can obtain high returns; but if the operation is wrong, the losses will be greater, and the funds will be lost. When the margin is insufficient, additional margin is required, so the futures market places more emphasis on capital management; the stock market is full margin trading, and there is no risk of margin calls.

11. The operation of the futures market is a "two-way street". You can buy first and then sell, or you can sell first and then buy. The operation of the stock market is a "one-way street" and it can only be "buy first and then buy." Sell".

12. The operation of the futures market needs to pay attention to the time factor. The "life" of existing futures contracts is within one and a half years, and the position must be closed or physically delivered when it expires; the timeliness of stock market operations is not the same. Strong, unless the listed company goes bankrupt and liquidates, it can be held for a long time.

13. The total number of positions in the futures market changes. When funds flow in, the total number of positions increases; when funds outflow, the total number of positions decreases; in the stock market, the tradable share capital of a single stock is fixed. But the overall share will not change.

14. The futures market has rich trading methods, including simple buying and selling, as well as inter-temporal arbitrage, cross-market arbitrage, cross-variety arbitrage, etc.; the stock market trading method is single.

15. The research focus of the futures market is on the supply and demand relationship of futures products, economic fluctuation cycles, government policies, seasonal factors, etc.; the research focus of the stock market is on the macroeconomic environment and the production and operation conditions of individual stock companies. .

Contact: They are all investment tools, have corresponding risks, and are legal.

Generally speaking, you can choose to participate based on your own investment style and risk tolerance.