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What is the transaction cost of futures? Can futures achieve stable profits?
What is the transaction cost of futures? I. Rules for handling fees of futures trading

At present, there are three major commodity futures exchanges in Shanghai, Dalian and Zhengzhou, and 22 listed products in China Financial Exchange (stock index futures), and different types of fees are different. All futures companies are members of the trading center (financial exchanges are not). A fixed part of the transaction fee for customers to participate in futures is paid to the trading center, and the other part is collected by the futures company. If a futures company accepts a bid, it should add a part to the futures exchange and operate it by itself.

Different futures companies charge different fees in every place. Relatively large-scale futures companies charge higher fees, while some small futures companies charge slightly lower fees. The handling fee will also vary depending on the amount of funds and transaction volume of customers. For users with large assets or even tens of thousands, the futures company will also appropriately reduce the handling fee.

Second, the collection method and calculation method

Different types of futures adopt different charging methods. At this stage, there are two main charging methods for trading center fees:

(1) According to the number of hands, that is, how much is a hand. For example, the contract for Shanghai Aluminum is 3 yuan/hand. The matching formula of this collection method is: N lots of fees for a futures contract = fixed fees ×N lots.

(2) According to the proportion of turnover, it is generally 0.00%. The matching formula of this collection method is: the handling fee of a futures contract for n lots = the selling price of opening/closing positions × trading unit × handling fee rate ×N lots.

Third, single and multilateral collection

Non-intraday transactions (that is, open positions) are all collected multilaterally, that is, both open positions and forced positions are collected, and the collection specifications are consistent. In-day trading (both closing positions and opening positions), some types only charge opening fees, that is, unilateral fees; There are several kinds of multilateral collections, and according to different types or contracts, the specifications of opening positions and compulsory closing positions are also different.

4. Closing and non-closing fees

It should be noted that there are also differences in the charging standards for liquidation (intraday trading) and non-liquidation (non-intraday trading). Concept of closing position: positions created on the same day are closed on the same day, which can be closed as a whole or partially.

Can futures achieve stable profits? It is difficult for futures to make reliable profits. Reliable profit violates the rules of the futures market, and instability is the normal state of the futures market. However, carrots and vegetables have their own flavors, which some people call realizable. The key to futures is not commodities, but standardized tradable contracts based on specific commodities such as cotton, soybeans and crude oil and assets such as stocks and government bonds. This collateral can be a product or a financial derivative.

How to sell futures at high prices and attract futures at low prices? As long as you invest, there will be risks, which corresponds to the risk of income. High risk does not necessarily match high return, but high return must match high risk. No one can guarantee that futures will make a reliable profit, but it must be understood that it is a reliable profit after all, so that the relative risk will be reduced, and the risk will be reduced and the profit will be reduced. They can only reduce their risks as much as possible according to their own judgments on the futures market. Ensure that we always maintain a dynamic evaluation mentality, diversified analysis and comprehensive and all-round interpretation. We must have a clear analysis and understanding of the trend of futures, the development trend in the middle and late period and the short-term development trend, and finally know how to stop losses in time.