There are similarities between futures trading and spot trading, such as both trading methods, real buying and selling, involving the transfer of commodity ownership and so on. The differences are as follows:

(1) The direct target of buying and selling is different. The direct object of spot trading is the commodity itself, including samples, objects and pricing. The direct object of futures trading is futures contracts, not how many contracts to buy or sell.

(2) The purpose of the transaction is different. Spot transaction is the transaction of primary currency and primary commodities, and physical delivery and payment settlement are carried out immediately or within a certain period of time. The purpose of futures trading is not to obtain physical objects at maturity, but to avoid price risks or make profits through hedging.

(3) Different trading methods. Spot transactions are generally one-on-one negotiations to sign a contract, and the specific content is agreed by both parties. If the contract cannot be fulfilled after signing, it will be resorted to law. Futures trading is conducted in an open and fair manner. One-on-one negotiation (or private hedging) is considered illegal.

(4) Different trading places. Spot transactions are generally decentralized. For example, grain and oil, daily industrial products and means of production are all managed by some trading companies, manufacturers and consumers in a decentralized manner. Only some fresh and individual agricultural and sideline products are concentrated in the form of wholesale markets. However, futures trading must be conducted in an open and centralized manner in the exchange according to law, and cannot be traded over the counter.

(5) The security system is different. Spot trading is protected by contract law and other laws. If the contract is not honored, it will be destroyed by law or arbitration. In addition to national laws, industry and exchange rules, futures trading mainly depends on the margin system to ensure maturity.

(6) The range of goods is different. The varieties of spot trading are all commodities in circulation, while the varieties of futures trading are limited. Mainly agricultural products, petroleum, metal commodities and some primary raw materials and financial products.

(7) Different settlement methods. Spot trading is cash on delivery, no matter how long it takes, it is a settlement or several settlements. Due to the implementation of the margin system in futures trading, profits and losses must be settled daily, and the system of marking the market day by day is implemented. The settlement price is calculated according to the transaction price, and the settlement price of CZCE is the weighted average price of all futures contracts of the same variety on that day. The settlement price has the following functions:

(a) Basis for calculating the profit and loss of closing positions and positions;

(b) the basis for deciding whether to increase the deposit;

(3) The basis for determining the amount of suspension on the next trading day.

Two. The difference between stock trading and spot trading:

Spot advantage

1. Investment amount: more or less, high leverage ratio;

2. Investment period: Monday to Friday, 8: 30-1:30, 13: 30- 15: 30, T+0. If you buy on the same day, you can sell on the same day.

3, return on investment: you can do more short, there are income opportunities for ups and downs, and the risk is smaller than stocks and futures;

4. Simple transaction and quick realization: instant transaction, 100% transaction;

5. Cost: low bid-ask spread;

6. Flexibility: two-way time-limited trading, with many profit opportunities;

7. Influencing factors: the global market has a huge turnover and is not controlled by large households;

8. Technical analysis: it is not subject to artificial changes and is the most reliable;

9. Risk degree: the risk is small, but the control is perfect, with price limit and stop loss protection.

Compared with stocks:

Stock prices are generally low, so everyone operates a lot of stocks. It is precisely because of the low price that it is more suitable for the dealer to stretch and suppress. This is also the source of the "28 law" of the stock market, so even skilled retail investors are mostly using technology to stock. Many retail investors chase the stock when it rises. If they chase in the morning, they can only watch even if they plummet, and they must wait until the next day. If it falls sharply that day, the retail investor will be reluctant, and he will be irrational the next day. Because of this, many people will be trapped. In the spot, you can trade at any time, as long as you are not greedy, it is difficult to be trapped, because you can trade at any time.

Some people will think that the spot price is very high. I think we can also put ourselves in this position. There are also some high-priced stocks in the stock market, such as Kweichow Moutai, but fewer stocks are bought when the price is high, and more stocks are bought when the price is low. If the points of two stocks are the same, in fact, in the final analysis, they earn the same amount of money. Therefore, when moving to the spot market, the concept is the same. And the spot can be traded in the form of margin (20% of the margin). If it is 1: 5, it is possible to buy only 1000 batches of funds and fry 5000 batches. Then small companies can become big companies.