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Futures 101
Everything a beginner needs to understand before trading a single contract, in the order you need it.
Guides
What Are Futures? A Plain-English Guide for Beginners
A futures contract is a standardized agreement to buy or sell something at a set price on a future date. Here's how that simple idea powers markets from corn to the S&P 500.
How Futures Contracts Work: Size, Ticks, Expiration, and Settlement
Every futures contract follows a published rulebook. Once you can read the specs, you'll know exactly what you're trading and what each price move costs.
Futures Margin and Leverage Explained
Futures margin isn't a down payment. It's a good-faith deposit that lets a small amount of money control a large position, which is exactly why it demands respect.
Micro Futures Explained: Smaller Contracts, Same Markets
Micro contracts shrink the dollar value of each price move to a fraction of the standard size. That makes risk easier to size, but it doesn't make futures safe.
Futures vs. Stocks vs. Options: Key Differences Explained
Stocks, options, and futures can all give you exposure to the same market, but the way gains, losses, and obligations work is very different.
How to Read Futures Symbols and Month Codes
A futures ticker packs three facts into a few letters: what the contract is, which month it expires, and which year. Here's how to read any of them.
Futures Expiration and Rollover: What Happens and How to Roll
Futures don't last forever. Knowing when your contract expires, and how to move to the next one, keeps you out of last-minute trouble.
How to Choose a Futures Broker: A Due-Diligence Checklist
The firm holding your money matters as much as the trades you make. Here's how to vet a futures broker before you send a dollar.
Futures Trading Glossary: 45 Essential Terms
Futures markets have their own vocabulary. Bookmark this page and come back whenever a term trips you up.
Suggested reading order
- What are futures? The big picture.
- How contracts work. Size, ticks, expiration, settlement.
- Margin & leverage. The part that surprises most beginners.
- Micro futures. A smaller way to learn.
- Choosing a broker. Registration checks and costs.