I. Trade mechanism

Futures crude oil: there is a short-selling mechanism, two-way trading can make a profit, and there are profit opportunities for both ups and downs. 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: there is a short-selling mechanism, two-way trading can make a profit, and there are profit opportunities for both ups and downs. 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. Spot crude oil: following the opening hours in Europe and America, it is divided into daylight saving time.

Second, the transaction period

Due to the time difference, the current domestic trading hours are 07:00-05:00 and 05:00-07:00 Beijing time on each trading day, and the European and American markets start to follow the winter trading hours of 165438+ 10, with the opening and closing delays of 1 hour, that is, continuous trading for 22 hours. It can enter the market at any time, and the price continuity is superior to futures. The most active trading period is 20:00-02:00.

Futures crude oil: trading hours are: 9: 00 am to 165438+ 0: 30 pm to 1 0: 30 pm to 3: 00 pm.

Third, 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.

Fourth, price restrictions.

Futures crude oil and refined oil: the daily price limit varies from 3% to 15% according to different futures.

Spot crude oil and refined oil: no increase limit.