Spot crude oil is also called international crude oil. In China, apart from setting up trading places for futures trading, no unit may conduct standardized contract trading by centralized bidding, electronic matching, anonymous trading, market makers and other centralized trading methods.
The difference between crude oil futures and spot crude oil;
I. Different mechanisms
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.
Second, different funds.
Futures crude oil: margin trading, with leverage ranging from 8 to 12.5 times.
Spot crude oil: margin trading, ranging from 20 to 33.3 times leverage.
Third, the trading time is different.
Futures crude oil: trading hours are: 9: 00 am to 165438+ 0: 30 pm to 1 0: 30 pm to 3: 00 pm. Due to the short trading time, it is not in line with the international gold price, and the phenomenon of gap is frequent. Investors can't enter the market in the early stage. It's easy to miss the opportunity to get in and out.
Spot crude oil: following the opening hours in Europe and America, it is divided into daylight saving time and winter time. 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 trading hours in Europe and America are 1 165438 following the winter time from October, with the opening and closing delays of 1 hour. 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.
Fourth, the increase limit is different.
Futures crude oil: the daily price limit varies from 3% to 15% according to different futures varieties.
Spot crude oil: no increase limit.