List of contents of this article:
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1. What are the requirements for opening a futures account?
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2. Is there a capital threshold for futures?
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3. How much capital is required to open a futures account?
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4. What conditions are needed to open a futures account? How much funds do you need to open an account?
What are the requirements for opening a futures account?
Futures account opening can be divided into two types, one is opening a commodity futures account and the other is opening a stock index futures account. There is no capital threshold for opening a commodity futures account and no capital verification is required. Just like stocks, adults over the age of 18 can open an account. There are capital requirements for opening a stock index futures account. You need to place 500,000 in the commodity futures account for 5 trading days before you can open an account. More than 99% of the futures clients I have seen are doing commodity futures, and a very small number of them are doing stock index futures.
Expanded information:
Specific procedures and precautions for opening a futures account.
1. Introduction to futures account opening process
You can open a futures account online or at the sales department of a futures company. Nowadays, the Internet is very developed, and more than 95% of futures customers open accounts online. The online account opening process is very simple. If you open an account by computer, fill in your basic personal information on the futures company's official website, then hold your ID card and watch the customer service video. It is estimated that the entire account opening process will be completed in 20-30 minutes. If you are opening an account on a mobile phone, download a futures account opening cloud app of the China Securities Regulatory Commission or an app of a futures company, fill in your personal information and follow the video to complete. Previously, a customer went to the sales department to open an account. When he arrived at the site, the on-site account opening staff taught him to use the futures company's app to open an account online, which was exactly the same as opening an account directly online at home.
2. Things to note when opening a futures account
1. First of all, you must ensure that the futures company you open an account with is formal, so that your funds are safe. You can view it through the futures company directory on the official website of the China Securities Regulatory Commission below.
If the futures company you open an account with is not on the list of futures companies above, it must be a fake futures company. Do not open one. The account given to you by such a fake futures company is essentially a simulated trading, and the money cannot be withdrawn after it is entered. In addition, there are many fake companies now, pretending to be regular futures companies to deceive people. In this case, just checking the above list is definitely not enough. Several methods are needed to determine:
(1) Is it possible to log in to formal trading software such as Wenhua Finance and Boyi Master? These formal trading software only cooperate with regular futures companies.
(2) Whether the account number and password of the monitoring center are guaranteed.
(3) Whether it is possible to open an account on the futures account opening cloud app of the China Securities Regulatory Commission. All 149 regular futures companies can open an account on this app.
If any of the above three points is met, it can basically be determined that it is a regular futures company.
2. Pay attention to the handling fees and margin standards provided by the futures company. The default handling fees and margins given by most futures companies are very high. Generally, the handling fees are 2-5 times the minimum handling fee, and the margin is 1.5-2 times the minimum margin.
The actual handling fee charged by our trading account = the fixed handling fee of the exchange + the additional handling fee charged by the futures company.
For example, the exchange stipulates that the minimum opening fee for methanol is 2 yuan and the margin is 1,413 yuan. The default opening fee of futures companies is generally 4-10 yuan, and the margin is about 2,000-3,000 yuan, which is still not cost-effective in the long run. Therefore, please note that before opening an account, you must negotiate with the account manager of the futures company and ask for the minimum handling fee and minimum margin before opening an account. If unfortunately you have already opened an account with high handling fees, you can ask them to lower it. If negotiation fails, you can open a new futures account.
3. Pay attention to the additional services of futures companies.
Is there a capital threshold for futures?
There is no capital requirement for opening a futures account, but some futures varieties have capital requirements for trading.
Maximum threshold: 500,000 types of capital verification: financial futures, options and crude oil. This is the highest authority for a futures account. With this, all permissions are enabled.
【Extended information】
The futures market first sprouted in Europe. As early as the ancient Greek and Roman periods, there had been central trading venues, bulk barter transactions, and trading activities with the nature of futures trading. The original futures trading developed from spot forward trading. The first modern futures exchange was established in Chicago in 1848, and the exchange established a standard contract model in 1865.
In the 1990s, my country's modern futures exchange came into being. There are four futures exchanges in my country: Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange. The price changes of their listed futures products have a profound impact on related industries at home and abroad.
The initial spot forward transaction was an oral commitment by both parties to deliver a certain amount of goods at a certain time. Later, as the scope of the transaction expanded, the oral commitment was gradually replaced by a sales contract.
This contract behavior became increasingly complex and required an intermediary guarantee to supervise on-time delivery and payment between buyers and sellers. As a result, the Royal Exchange, the world's first commodity forward contract exchange opened in London in 1571, appeared. In order to adapt to the continuous development of the commodity economy, improve transportation and storage conditions, and provide information to members, 82 businessmen initiated the organization of the Chicago Board of Trade (CBOT) in 1848; in 1851, the Chicago Board of Trade introduced forward contracts; in 1865, the Chicago Board of Trade The Grain Exchange introduced a standardized agreement called a "futures contract" to replace the forward contracts that had been used previously.
This kind of standardized contract allowed the contract to be resold, and gradually improved the margin system. As a result, a futures market specializing in the purchase and sale of standardized contracts was formed, and futures became an investment and financial management tool for investors. In 1882, the exchange allowed hedging to be exempted from performance obligations, which increased the liquidity of futures trading.
The background of the emergence of China's futures market is the reform of the grain circulation system. As the country cancels the policy of monopolizing the purchase and marketing of agricultural products and liberalizes the prices of most agricultural products, the market plays an increasingly important role in regulating the production, circulation and consumption of agricultural products. The rise and fall of agricultural product prices, the non-disclosure and distortion of spot prices, and the distortion of agricultural production Problems such as the sudden rise and fall and the lack of value preservation mechanism of grain enterprises have attracted the attention of leaders and scholars.
How much capital is needed to open a futures account?
In fact, in 2022, as long as you open an account with a regular domestic futures company, it will be free, and there are no capital requirements. As long as your funds can meet the margin requirements for futures trading after opening an account, you can participate in the transaction. Therefore, opening a futures account does not require any funds, but participating in futures trading requires you to pay a margin. This margin is only collected before the transaction, mainly to ensure that futures trading can proceed smoothly.
In addition, futures are margin trading, which virtually improves the utilization rate of funds. In the futures market, you can basically participate in transactions with 5,000 yuan of capital. The margin requirements for many agricultural product futures are also between 3,000 and 5,000 yuan. However, many investment friends do not know much about the special varieties in futures trading. In fact, it is free to open an account for special varieties. However, these varieties fluctuate more violently, so the exchange requires that if you want to participate in special varieties trading, you need to verify your financial strength. It is the same as trading stocks and opening the Science and Technology Innovation Board trading permissions.
Domestic futures varieties with authority restrictions are divided into six types: stock index futures, crude oil, palm oil, 20 rubber, PTA, and iron ore. In addition, other commodity futures have no authority restrictions, and you can participate in trading by opening an account. The requirements for participation in these special breeds are as follows:
1. Within 5 trading days, the funds in the futures account must be no less than 100,000-500,000 yuan.
2. You need to take the Futures Association exam and achieve a score of 80 points.
3. 10 futures transaction records are required, regardless of variety.
What conditions are needed to open a futures account? How much funds do you need to open an account?
1. Conditions that customers must meet to open a futures account:
① Market entry and trading qualifications that comply with national laws, regulations and policies (must add 1 point to the exchange fee for stock index futures account opening, 90% inversion, unconditional, direct inversion futures account Nationality of the People's Republic of China, compatriots from Hong Kong, Macao and Taiwan are temporarily unable to trade domestic futures );
②Have the necessary funds or assets to engage in trading (the minimum entry capital for trading stock index futures is 500,000, and for trading commodity futures, the minimum account opening capital is 10,000);
③The account opener and transaction executor must be over 18 years old and have full capacity for civil conduct.
2. Certificates or information that customers must provide when opening a futures account:
① Account opening by a natural person (ordinary investor): original ID card and bank card; the account holder must open an account on site;
② Legal person account opening (institutional investor): A copy of the "Enterprise Business License" of the account opening unit, the ID card of the legal representative, the person who issued the order, and the person who allocated the funds and the "Tax Registration Certificate".
Kind tips:
1. The above information is for reference only and does not make any recommendations;
2. Futures investment is risky, so be careful when choosing.