Futures
A standardised contract for future settlement of an underlying instrument. It requires margin and has an expiry date — unlike CFDs and stocks on the GPW.
Definition
Futures are a standardised forward contract: you commit to settle an underlying instrument (an index, a commodity, a currency) in the future, with a deposit (margin) and an expiry date. You trade them on an exchange (or through a broker with access), not by taking “ownership” of the underlying as you do with a spot stock purchase.
Example
You buy an index contract (the equivalent of the ES, say) with a multiplier and tick size defined in the specification. A move of a few ticks changes the PnL by a fixed amount; before expiry you must close, roll or settle it according to the rules of the contract.
Anti-example / common mistake
Futures are not a 1:1 substitute for a CFD — regulation, execution, rollover and often the cost profile all differ. Beginners also confuse “a small move in points” with small risk, ignoring the multiplier and the margin.