What is margin trading in securities investment?

As we all know, our daily stock trading is simple and rude. After buying the stock, you can sell it as long as you want. As long as you can withstand fluctuations, you can hold shares forever.

But this is just an ordinary way of securities trading. There is also a mainstream trading method, that is, margin trading, which is usually used in derivatives markets such as spot and futures. In fact, there is such a rule that a trading market can be short, usually margin trading.

In addition to the above derivatives, the A-share market also has this kind of trading method, which is the margin financing and securities lending that everyone often hears.

Let me briefly explain margin financing and securities lending:

Financing: Investors can borrow money from primary dealers (mainly domestic brokers) to buy stocks.

Securities lending: investors can borrow shares from brokers and sell them.

Maybe some friends will be confused at this time. What does it mean to "borrow shares from brokers to sell"?

It's actually quite simple. Primary dealers, that is, brokers, exist as a bridge between investors and companies when investors invest in stocks.

When a company issues shares, these shares must first enter the brokerage firm, and then the brokerage firm sells them to investors. Whether underwriting or distribution, which is often heard, is such a process. Therefore, brokers have stocks, and eligible investors can borrow stocks from brokers to sell them. When the stock falls, they will buy it back to earn the difference, which is called short selling.

So we can see that financing is leverage to buy stocks, and short selling is short selling.

However, brokers will not allow investors to return empty-handed. After financing, your share price has fallen. What should I do if I can't afford the money? What should I do if the stock price rises after selling the securities and I can't pay back the money? So at this time, it is necessary to introduce margin, which is the origin of the margin trading we mentioned above.

Each market has different requirements for the margin ratio. Take the margin trading rules of A-share market as an example.

According to the regulations of Shanghai Stock Exchange and Shenzhen Stock Exchange, the initial margin ratio of margin financing and securities lending is not less than 50%, that is to say, if you want to get 6.5438+0 million yuan in the transaction, the minimum initial margin is 500,000 yuan. The maintenance margin ratio shall not be less than 130%, that is to say, if the transaction plans to raise100000, the total assets in hand after raising funds shall not be less than 1300000.

In other words, you have to raise 6.5438+0 million yuan, and you must have at least 500,000 yuan in your hand to be qualified to do this. And after the financing transaction is completed, your account assets should exceed 6.5438+0.3 million, as long as it is lower than 6.5438+0.3 million, you will receive a call from the brokerage firm. If the investor fails to pay the loss margin according to the amount, the brokerage firm will forcibly close your account, which is also called "short position" in the industry.

Having said that, you should understand the meaning of margin trading, right? If you still don't understand, please look at the following two pictures:

Attached are the trading conditions for margin trading and securities lending in the A-share market:

1, engaged in securities trading for half a year;

2. The average daily securities assets in the last 20 trading days are not less than 500,000;

The risk assessment level must be positive/enterprising within 3.2 years;

4. No bad credit record;

5. Non-shareholders and related persons of the company;

6 laws and regulations do not prohibit or are not suitable for margin financing and securities lending.

Views on spot silver

After the old leek's friend told him that he wanted to invest in spot silver, the old leek gave advice: Don't do it!

Actually, the reason is very simple,

First, you are not familiar with it. Before you try to invest, you must make an in-depth study of any investment product. How dare you play spot trading when you don't even know margin financing and securities lending?

Second, the investment logic of spot silver is different from that of stocks.

Regarding the investment logic, in fact, the industrial research logic of spot silver is the same as that of stocks, so I won't say much here, mainly talking about the short-term and medium-term impact events of spot silver.

The global silver standard is priced in dollars, which means that the rise and fall of silver is directly linked to the dollar, so it is easy for us to draw such a conclusion:

The short-term fluctuation of spot silver is mainly affected by the following factors:

1, exchange rate impact;

2. Geopolitical influence;

3. American economic impact (such as non-agricultural data);

4. The impact of inflation.

To be honest, the above has no investment advantage for domestic ordinary investors. If you invest in A-shares, you can at least get in touch with the products of many companies every day, and the related impact events are relatively timely. If you invest in silver, chances are you don't know that something important has happened in America.

Of course, what Laojiao said is purely an objective discussion from the standpoint of ordinary leeks, not a denial of the investment behavior of silver spot.

As for margin financing and securities lending, Laojiu has already said that it is leveraged investment, and ordinary investors should be cautious. Of course, the government has set the threshold for us in advance (as mentioned above), so let's be a minority shareholder with peace of mind. If one day the small leek can fully understand in the stock market, it will naturally be another scene.