Trading Futures

Where can I find futures?

Futures are available on the Webull mobile app, desktop platform, and Webtrade. You may also use a futures account through an API, such as TradingView, with more information available here.

How do I search, filter, and select a futures contract?

1. Search or browse: Enter a product name or symbol in the search bar, or browse futures by category. On Mobile ➝ Go to Markets ➝ Futures. On Desktop ➝ Open the Futures widget or Futures Trader screen. On Webtrade ➝ Open the Futures Trader Screen.

2. Select an expiration: Choose the specific contract month you want to trade. Contracts for the same product can have different prices, trading activity, and expiration dates.

3. Review the contract: Check the contract size, tick value, margin requirements, trading hours, and expiration or last holding date. Review the bid, ask, trading volume, and order book to assess available prices and liquidity.

Before submitting an order, confirm the contract symbol, expiration month, direction, quantity, order type, price, and applicable fees.

How do I read the trading screen and order ticket?

The trading screen displays the selected contract, expiration month, chart, and market prices. The bid is the highest price buyers are offering, while the ask is the lowest price sellers are requesting. The last price shows the most recent completed trade and may differ from the current bid or ask.

Use the order ticket to set up your trade:

• Account: Select your futures account.

• Side: Select Buy or Sell. Buying can open a long position or close a short position. Selling can open a short position or close a long position.

• Order Type: Choose an available order type, such as Market, Limit, Stop, or Stop Limit.

• Quantity: Enter the number of contracts.

• Price: Enter the limit price, stop price, or other price settings required for your order type.

• Time-in-Force: Select how long the order should remain active.

The summary below the order fields provides additional details:

• Max Qty to Buy: The maximum number of contracts you can afford to buy based on your available buying power and applicable margin requirements.

• Position(s): The number of contracts you currently hold in the selected futures contract.

• Futures BP: Your available futures buying power.

• Margin Used: The applicable margin requirement for the order during the trading session in which it takes place.

• Estimated Transaction Fee: The estimated total transaction.

The order confirmation screen summarizes your trade before submission:

• Contract and Side: The futures contract’s symbol and name, along with your selected Buy or Sell direction.

• Contract(s)/Quantity: The number of contracts included in your order.

• Order Type: Your selected order type.

• Limit Price: For a limit order, the maximum price you will pay to buy or the minimum price you will accept to sell.

• Time-in-Force: How long your order remains active.

• Futures BP: Your available futures buying power.

• Margin Used: The applicable margin requirement for the order during the trading session.

• Estimated Transaction Fee: The estimated total transaction fee.

Review these amounts before submitting your order, as margin requirements and estimated costs may change.

How do I submit a buy-to-open or sell-to-open order?

When placing an order, select Buy to open a long position if you expect the price to rise, or Sell to open a short position if you expect it to fall.

If you already hold a position in the same contract, choosing the opposite side will reduce or close that position.

How do I access indicators, charts, and depth-of-market order book tools?

Charts, technical indicators, and depth-of-market (DOM) tools are available on all Webull platforms. Select a futures contract, then open the applicable area or widget to view its chart and order book, add indicators, or review buy and sell orders at different price levels. The location of these tools varies by platform.

What is the difference between standard, mini, micro, and nano futures?

These labels describe traditional contract size:

• Standard: Generally the largest contract.

• Mini: A smaller version of a standard contract.

• Micro: Smaller than the corresponding mini.

• Nano: Smaller still, where available.

Exact sizes vary by product. For example, a Micro E-mini S&P 500 contract is one-tenth the size of an E-mini S&P 500.

Smaller contracts generally require less margin and have smaller tick values. They still involve leverage and liquidation risk. Fees vary by contract.

What is futures volume?

Futures volume is the total number of contracts traded during a specific period, such as a trading session. Each matched trade is counted once, rather than separately for the buyer and seller.

Higher volume indicates greater trading activity and may suggest better liquidity, but it does not guarantee that your order will fill at your desired price.

What is open interest and what does it mean in the futures market?

Open interest is the total number of outstanding futures contracts that have not been closed or settled. Each contract is counted once, even though it has both a buyer and a seller.

Unlike volume, which measures contracts traded during a specific period, open interest measures contracts that remain open. Traders use it alongside price and volume to assess market participation, but it does not predict price direction or confirm a trend on its own.

What is a spot price, and how does it relate to a futures price?

The spot price is the price to buy or sell the underlying asset for immediate delivery.

The futures price is the price to buy or sell a contract for settlement at a future date. It may be higher or lower than the spot price.

Why can contracts for the same product have different prices across expiration months?

Each expiration month reflects different holding costs and expected market conditions. Prices can vary because of:

• Holding costs: Storage, financing, and income from the underlying asset.

• Supply and demand: Expected shortages, seasonal changes, or changes in demand.

• Immediate availability: Having the physical asset available now may be more valuable, making nearby contracts more expensive than later ones.

What does it mean when the futures market is in contango?

Contango means later-expiring futures contracts trade at higher prices than nearer-expiring contracts. For example, a December contract costs $75 while a June contract costs $70.

What does it mean when the futures market is in backwardation?

Backwardation means later-expiring futures contracts trade at lower prices than nearer-expiring contracts. For example, a December contract costs $65 while a June contract costs $70.

Does Webull support options on futures or futures spread trading?

At this time, Webull does not support options on futures or futures spread trading.