What's the difference between spot and futures?

The difference between futures and spot is as follows:

First, the trading object of spot trading is the commodity itself, while futures trading is a contract;

Second, spot trading is cash delivery, which can complete the transfer of funds and commodities at the same time, while the purpose of futures trading is to obtain profits from contracts;

3. Sign the contract one-on-one on the spot, and the specific content shall be determined by both parties through consultation; Futures trading is a public bidding transaction conducted on the exchange;

4. There is no fixed place for spot trading, and the transaction can be completed at any time and any place; Futures trading must be completed in the exchange;

5. The settlement of spot transactions adopts the method of settlement of payment; Futures trading is a margin system and there is no debt every day;

Six, the spot transaction is mainly to realize the transfer of commodity ownership; Futures trading can not complete the transfer of goods, but directly benefit from price changes.