On April 20, 2022, the 34th Meeting of the Standing Committee of the 13th National People's Congress passed the Futures and Derivatives Law of the China, which will come into force on August 1, 2022. Investors who engage in futures trading should choose suitable investment varieties through legitimate futures trading institutions after conducting necessary risk assessments. When investors download futures trading software or browse the webpage information of legitimate institutions, they should log in to the official website to prevent losses such as information leakage, password theft, and being deceived by phishing websites or other illegal websites. According to the regulations of the China Securities Regulatory Commission, futures companies and their employees are not allowed to engage in capital allocation business, nor are they allowed to participate in capital allocation business in any way. If relevant institutions do not obtain corresponding qualifications to engage in over-the-counter capital allocation, it is illegal. Investors are advised not to participate.
1、Summary of the case
Investor A and Investor B have known each other for many years. Recently, Party A claimed to have benefited greatly from futures trading to Party B and sent Party B a QR code for opening a futures account, strongly recommending Party B to open a futures account and conduct futures trading with Party B. In the short term, Party B frequently heard about Party A's trading profits and gradually believed in the situation described by Party A. They scanned the QR code to open an account(in fact, Party B did not actually open a futures account with a futures company, but opened a sub account under the actual control of someone else through the QR code).
Afterwards, Party A sent a download link to Party B to guide Party B in downloading third-party transaction terminals and providing Party A with an appropriate amount of funds, claiming that it could achieve large profits with small funds. When investor B first used the trading terminal, he was particularly cautious and noticed that the software did display information such as the name of the futures company and related link addresses, so he relaxed his vigilance and began futures trading. Afterwards, under the guidance of Party A, Party B continued to deposit over 100000 yuan and allocated several hundred thousand yuan for trading, ultimately resulting in heavy losses.
（1）Investors should choose a legitimate futures company when investing in futures, and after conducting necessary risk assessments, choose the investment variety that suits them. Investors can log in to the website of the China Securities Regulatory Commission(www.csrc.gov.cn)or the China Futures Industry Association(www.cfachina.org)to inquire about the qualifications of these legitimate futures companies. Among them, in the information disclosure of legitimate institutions on the website of the China Futures Association, the company's official website and practitioners will also be listed, and investors should carefully verify the authenticity of the other party's institutions and personnel.
（2）When investors download trading software or browse the webpage information of legitimate institutions, they should log in to the official website to prevent losses such as information leakage, password theft, and deception caused by phishing websites or other illegal websites. Investors should actively refuse to use any futures trading software provided by non futures companies or personnel. Trading software should be downloaded, installed, and used through the official channels of futures companies(the official website of futures companies can be accessed through the website of the China Futures Industry Association(www. cfachina. org)and the ICP/IP address/domain name information filing management system of the Ministry of Industry and Information Technology of the People's Republic of China)https: //beian. miit. gov. cn/Inquiry and verification), if necessary, can directly contact the futures company to carefully verify the authenticity of the software.
（3）According to the regulations of the China Securities Regulatory Commission, futures companies and their employees shall not engage in capital allocation business, nor shall they participate in capital allocation business in any way. Investors should actively refuse to use any futures trading funds provided by institutions or personnel to participate in futures trading. Futures are high-risk financial products, and investors should engage in futures trading through legally established futures companies. Investors must maintain a rational mindset, enhance risk prevention awareness, always control risks within their acceptable range, and be cautious in dealing with capital allocation business in society to avoid being deceived or causing unbearable losses.
（4）Futures operating institutions shall proactively remind investors of futures trading risks in accordance with regulations, and shall not provide profit guarantees to customers, nor agree to share benefits or risks with customers. Investors should not trust any promises made by institutions or personnel regarding profit protection in futures trading. Futures trading carries high risks and cannot be guaranteed without losses. Recently, some unscrupulous individuals have released information through QQ, online forums, and other platforms, claiming that futures trading"has small investment and high returns". As long as they follow the"teacher", they can"double their returns in a month". This is deceiving investors of money, so investors must be careful. Illegal individuals often use investors'mentality of"overnight wealth"to attract them to participate in illegal futures trading through exaggerated propaganda. If investors want to participate in futures trading, they should first have an understanding of the basic knowledge and business rules related to futures trading, and then trade futures varieties listed on legitimate futures exchanges through legitimate futures companies.