Turbo24 product details

All turbo warrants listed below are transferrable securities which give you an exposure to changes in underlying asset prices.

To open an account, call +35 318 009 95362 or email newaccounts.uk@ig.com. We’re here for you 24 hours a day, from 8am on Saturday to 10pm on Friday.

Contact us +35 318 009 95362

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call +35 318 009 95362 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We're available 24/7 between 8am Saturday and 10pm Friday.

Contact us +35 318 009 95362

To open an account, call +35 318 009 95362 or email newaccounts.uk@ig.com. We’re here for you 24 hours a day, from 8am on Saturday to 10pm on Friday.

Contact us +35 318 009 95362

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call +35 318 009 95362 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We're available 24/7 between 8am Saturday and 10pm Friday.

Contact us +35 318 009 95362

Turbo warrants are complex financial instruments. Trading these financial instruments involves the high risk of losing money rapidly.

  • Indices
  • Shares
  • Forex and gold
  • Commodities

Indices turbo warrants

All turbo warrants listed below are transferrable securities which give you an exposure to changes in underlying index prices.

Index name Currency [1] Multiplier [2] Trading hours
(CE(S)T) [3]
24 Hours a day
Maximum risk [4]

France 40

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Germany 40

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Wall Street

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

FTSE 100

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Spain 35

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Italy 40

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

US Tech 100

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Sweden 30

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

US 500

EUR

0.01

23.00 Sunday to 23.00 Friday

Initial outlay

Hang Seng

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Nikkei 225

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

EuroStoxx50

EUR

0.01

23.00 Sunday to 23.00 Friday
24 Hours a day

Initial outlay

Notes

1. All turbo24s are traded in EUR, regardless of the underlying trading currency.

2. The overall value of a turbo trade is equal to the price of the turbo warrant (based on the difference between the underlying market price and your selected knock-out level, adjusted by the market’s multiplier and including the market maker’s charges*) multiplied by the number of turbos purchased. For example, buying 100 Germany 40 turbos with a price of 5.00 will give the following value:

5.00 (price) x 100 (turbos) = 500 EUR

3. Where indicated, 24-hour trading opens at 23.00 (CE(S)T) on Sundays and closes at 23.00 (CE(S)T) on Fridays.

Turbo24s have a two-minute maintenance window between 23:00 - 23:02 (CE(S)T) daily, from Monday to Thursday.

4. The initial outlay to buy a turbo warrant is the opening price multiplied by the number of units. This is the maximum possible loss on the position.

5. When you trade in a currency other than your base currency, your profit or loss will be realised and booked to your account in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency when your position is closed. You may change this default at any time via our trading platform or by calling us.

6. Knock-outs will be determined against the underlying market price of a specific turbo warrant.

During out-of-hours sessions on 24-hour index markets, quotations will reflect the market maker’s view of the prospects for a market. This could include referring to price movements in other relevant markets which are open. There may be nothing against which to measure quotations at these times. While the market maker quotes when the underlying market is closed, knock-outs can only occur during the opening hours of the underlying market. This means that the market maker will price the listed instruments from 00.00 (CE(S)T) on Monday to 23.00 (CE(S)T) on Friday, with the maintenance window mentioned in note 3, but knock-outs will only occur when the underlying reference market is open. For information on a specific index’s opening hours, please check its website or call us.

7. A dividend adjustment can be applied to a turbo warrant’s knock-out level to reflect ex-dividend adjustments to a component of the underlying index. This is equal to the number of points by which the index price must be adjusted to account for any constituent shares that go ex-dividend at the close of the cash market. There will not be any separate charges to client accounts, but instead the position’s knock-out level will be adjusted. The adjustment applies to both long and short turbo warrants. Every working order will be deleted from the order book whenever a dividend adjustment is applied.

8. A daily knock-out price adjustment is calculated by the turbo warrant issuer (Raydius) at 23.00 (CE(S)T) and applied when the maintenance window is completed at 23.02 (CE(S)T). Note that this will not be an account adjustment, as the knock-out level adjustment will incorporate the daily funding amount.

On a long turbo24 the knock-out adjustment will result in your knock-out level moving upwards over time, and on a short turbo24 it will move downwards.

The daily knock-out adjustment is determined by Raydius based on a specified market interest rate plus a risk adjustment factor that is calculated at its discretion.

For more information, please see the Key Information Document and prospectus for your turbo, plus the final terms published on the Raydius website.

9. For turbo24s on the Italy 40 index only, the Italian Financial Transaction Tax (IFTT) applies. This tax is payable on all buy and sell transactions, regardless of your place of residence or the place where your transactions have been concluded. Find out more about the IFTT.

10. We price our Volatility Index (VIX) and EU Volatility Index contracts in a different way to the rest of our cash index markets. Rather than aiming to replicate the underlying index price, we follow the method used to derive our undated commodity prices. This means that there is a difference between our undated price and the underlying index price on these markets. Funding is also calculated in line with the undated commodity method. Please see our commodities page for more details.

* The market maker normally makes a charge to reflect the guarantee on the knock-out level

Shares turbo warrants

All turbo warrants listed below are transferrable securities which give you an exposure to changes in underlying share prices.

Share Currency [1] Multiplier [2] Maximum risk [4] Irish Trading Hours
AB Volvo EUR 0.1 Initial outlay 08.00 - 16.30
Adidas AG EUR 0.1 Initial outlay 08.00 - 16.30
Advanced Micro Devices Inc EUR 1 Initial outlay 14.30 - 19.00
Adyen NV EUR 0.01 Initial outlay 08.00 - 16.30
Air France-KLM SA EUR 1 Initial outlay 08.00 - 16.30
Air Liquide SA EUR 0.1 Initial outlay 08.00 - 16.30
Airbnb Inc EUR 0.1 Initial outlay 14:30 - 21:00
Airbus Group SE (Airbus SE) EUR 0.1 Initial outlay 08.00 - 16.30
Alibaba Group Holding Limited EUR 0.1 Initial outlay 14.30 - 19.00
Allianz SE EUR 0.1 Initial outlay 08.00 - 16.30
Alphabet Inc EUR 0.01 Initial outlay 14.30 - 19.00
Amazon.com Inc EUR 0.01 Initial outlay 14.30 - 19.00
Apple Inc EUR 0.1 Initial outlay 14.30 - 19.00
ArcelorMittal EUR 1 Initial outlay 08.00 - 16.30
AstraZeneca PLC EUR 0.01 Initial outlay 08.00 - 16.30
Baidu Inc EUR 0.1 Initial outlay 14.30 - 19.00
Banco Bilbao Vizcaya Argentaria SA EUR 10 Initial outlay 08.00 - 16.30
Banco de Sabadell SA EUR 100 Initial outlay 08.00 - 16.30
Banco Santander SA EUR 10 Initial outlay 08.00 - 16.30
Bayer Aktiengesellschaft EUR 1 Initial outlay 08.00 - 16.30
Beyond Meat Inc EUR 0.1 Initial outlay 14.30 - 19.00
BioNTech SE EUR 0.1 Initial outlay 14:30 - 21:00
Coinbase Global Inc EUR 0.1 Initial outlay 14:30 - 21:00
Commerzbank AG EUR 1 Initial outlay 08.00 - 16.30
Daimler AG EUR 1 Initial outlay 08.00 - 16.30
Delivery Hero SE EUR 0.1 Initial outlay 08.00 - 16.30
Delta Air Lines Inc EUR 1 Initial outlay 14.30 - 19.00
Deutsche Bank Aktiengesellschaft EUR 1 Initial outlay 08.00 - 16.30
Deutsche Lufthansa AG EUR 1 Initial outlay 08.00 - 16.30
Deutsche Wohnen SE EUR 1 Initial outlay 08.00 - 16.30
Distribuidora Internacional de Alimentacion SA EUR 100 Initial outlay 08.00 - 16.30
Elekta AB EUR 0.1 Initial outlay 08.00 - 16.25
Evolution Gaming Group AB EUR 0.01 Initial outlay 08.00 - 16.25
Evotec AG EUR 1 Initial outlay 08.00 - 16.30
Facebook Inc EUR 0.1 Initial outlay 14.30 - 19.00
Fingerprint Cards AB (publ) EUR 1 Initial outlay 08.00 - 16.25
General Electric Company EUR 1 Initial outlay 14.30 - 19.00
H & M Hennes & Mauritz AB (publ) EUR 0.1 Initial outlay 08.00 - 16.25
Industria de Diseno Textil SA EUR 1 Initial outlay 08.00 - 16.30
Intel Corporation EUR 1 Initial outlay 14.30 - 19.00
International Consolidated Airlines Group SA EUR 10 Initial outlay 08.00 - 16.30
Intesa Sanpaolo SpA EUR 10 Initial outlay 08.00 - 16.30
Intrum AB (publ) EUR 0.1 Initial outlay 08.00 - 16.25
Kering SA EUR 0.1 Initial outlay 08.00 - 16.30
LVMH Moet Hennessy Louis Vuitton S.E. EUR 0.1 Initial outlay 08.00 - 16.30
Lyft Inc EUR 1 Initial outlay 14.30 - 19.00
McDonald's Corporation EUR 0.1 Initial outlay 14.30 - 19.00
MGM Resorts International EUR 1 Initial outlay 14.30 - 19.00
Micron Technology Inc EUR 1 Initial outlay 14.30 - 19.00
Microsoft Corporation EUR 0.1 Initial outlay 14.30 - 19.00
Moderna Inc (All Sessions) EUR 0.1 Initial outlay 14:30 - 21:00
Netflix Inc EUR 0.1 Initial outlay 14.30 - 19.00
NIO Inc - ADR EUR 1 Initial outlay 14.30 - 19.00
Novavax, Inc. EUR 0.1 Initial outlay 14:30 - 21:00
NVIDIA Corporation EUR 0.1 Initial outlay 14.30 - 19.00
Obrascon Huarte Lain SA EUR 100 Initial outlay 08.00 - 16.30
Palantir Technologies Inc EUR 1 Initial outlay 14:30 - 21:00
Pfizer Inc (All Sessions) EUR 1 Initial outlay 14:30 - 21:00
Plug Power Inc. EUR 1 Initial outlay 14:30 - 21:00
Renault SA EUR 1 Initial outlay 08.00 - 16.30
Repsol SA EUR 1 Initial outlay 08.00 - 16.30
Royal Dutch Shell PLC EUR 1 Initial outlay 08.00 - 16.30
Sandvik AB EUR 0.1 Initial outlay 08.00 - 16.25
SAP SE EUR 0.1 Initial outlay 08.00 - 16.30
SAS AB EUR 10 Initial outlay 08.00 - 16.25
Siemens Aktiengesellschaft EUR 0.1 Initial outlay 08.00 - 16.30
Snap Inc EUR 1 Initial outlay 14.30 - 19.00
Societe Generale SA EUR 1 Initial outlay 08.00 - 16.30
Stellantis EUR 1 Initial outlay 08.00 - 16.30
Swedbank AB (publ) EUR 0.1 Initial outlay 08.00 - 16.25
Telecom Itali ASA EUR 100 Initial outlay 08.00 - 16.30
Telefonaktiebolaget LM Ericsson (publ) EUR 0.1 Initial outlay 08.00 - 16.25
Telefonica SA EUR 10 Initial outlay 08.00 - 16.30
Tesla Inc EUR 0.1 Initial outlay 14.30 - 19.00
The Boeing Company EUR 0.1 Initial outlay 14.30 - 19.00
The Coca-Cola Company EUR 1 Initial outlay 14.30 - 19.00
The Walt Disney Company EUR 0.1 Initial outlay 14.30 - 19.00
TOTAL SA EUR 1 Initial outlay 08.00-16.30
Twitter Inc EUR 1 Initial outlay 14.30 - 19.00
Uber Technologies Inc EUR 1 Initial outlay 14.30 - 19.00
UniCredit SpA EUR 1 Initial outlay 08.00 - 16.30
Vallourec SA EUR 1 Initial outlay 08.00 - 16.30
Visa Inc EUR 0.1 Initial outlay 14.30 - 19.00
Volkswagen AG EUR 0.1 Initial outlay 08.00 - 16.30
Zoom Video Communications Inc EUR 0.1 Initial outlay 14:30 - 21:00

Notes

1. All Turbo24 are traded in EUR, regardless of the underlying trading currency.

2. The overall value of a turbo trade is equal to the price of the turbo warrant (based on the difference between the underlying market price and your selected knock-out level, adjusted by the market’s multiplier and including the market maker’s charges*) multiplied by the number of turbos purchased. For example, buying 100 turbos with a price of 5.00 will give the following value:
5.00 (price) x 100 (turbos) = 500 EUR

3. Turbo24 on shares aren’t available 24/5 as with other markets. They’re subject to the schedules available for each market on the Spectrum website – Spectrum being the exchange on which Turbo24 are traded.

4. The initial outlay to buy a turbo warrant is the opening price multiplied by the number of units. This is the maximum possible loss on the position.

5. When you trade in a currency other than your base currency, your profit or loss will be realised and booked to your account in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency when your position is closed. You may change this default at any time via our trading platform or by calling us.

6.Knock-outs will be determined against the underlying market price of a specific turbo warrant.

7. A dividend adjustment can be applied to a turbo warrant’s knock-out level to reflect ex-dividend adjustments to the underlying share price. This is equal to the number of points by which the share price must be adjusted to account for going ex-dividend at the close of the cash market. There will not be any separate charges to client accounts, but instead the position’s knock-out level will be adjusted. The adjustment applies to both long and short turbo warrants. Every working order will be deleted from the order book whenever a dividend adjustment is applied.

8. A daily knock-out price adjustment is calculated by the turbo warrant issuer (Raydius) at 23:00 (CE(S)T) and applied when the maintenance window is completed at 23:02 (CE(S)T). Note that this will not be an account adjustment, as the knock-out level adjustment will incorporate the daily funding amount.
On a long Turbo24 the knock-out adjustment will result in your knock-out level moving upwards over time, and on a short Turbo24 it will move downwards.
The daily knock-out adjustment is determined by Raydius based on a specified market interest rate plus a risk adjustment factor that is calculated at its discretion.
For more information, please see the Key Information Document and prospectus for your turbo, plus the final terms published on the Raydius website.

9. For Turbo24 on Italian shares, the Italian Financial Transaction Tax (IFTT) applies. This tax is payable on all buy and sell transactions, regardless of your place of residence or the place where your transactions have been concluded. Find out more about the IFTT.

* The market maker normally makes a charge to reflect the guarantee on the knock-out level
https://www.spectrum-markets.com/member-documents

Forex and gold turbo warrants

All turbo warrants listed below are transferrable securities which give you an exposure to changes in underlying forex prices.

Forex pair Currency [1] Multiplier [2] Trading hourrs
(CE(S)T) [3]
Maximum risk [4]
AUD/USD EUR 100

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
EUR/GBP EUR 100

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
EUR/JPY EUR 1

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
EUR/USD EUR 100

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
GBP/JPY EUR 1

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
GBP/USD EUR 100

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
Gold EUR 0.1

23:00 Sunday - 23:00 Friday

Initial outlay
USD/CAD EUR 100

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay
USD/JPY EUR 1

24 hours a day

23:00 Sunday - 23:00 Friday

Initial outlay

Notes

1. All turbo24s are traded in EUR, regardless of the underlying trading currency.

2. The overall value of a turbo trade is equal to the price of the turbo warrant (based on the difference between the underlying market price and your selected knock-out level, adjusted by the market’s multiplier and including the market-maker's charges*) multiplied by the number of turbos purchased. For example, buying 100 EUR/USD turbos with a price of 5.00 will give the following value:

5.00 (price) x 100 (turbos) = 500 EUR

3. Where indicated, 24-hour trading opens at 23.00 (CE(S)T) on Sundays and closes at 23.00 (CE(S)T) on Fridays. Exceptions are shown in the table.

Turbo24s have a two-minute maintenance window between 23:00 - 23:02 (CE(S)T) daily, from Monday to Thursday.

4. The initial outlay to buy a turbo warrant is the opening price multiplied by the number of units. This is the maximum possible loss on the position.

5. When you trade in a currency other than your base currency, your profit or loss will be realised and booked to your account in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency when your position is closed. You may change this default at any time via our trading platform or by calling us.

6. Knock-outs will be determined against the underlying market price of a specific turbo warrant. For forex pairs, this will be Reuters’ reference price. Knock-outs can only occur during the opening hours of the underlying market. As FX markets are open 24 hours a day, turbo warrants with forex as the underlying market can be knocked out at any time while the trading venue is open.

7. A daily knock-out level adjustment is calculated by the turbo warrant issuer (Raydius) at 23.00 (CE(S)T) and applied when the maintenance window is completed at 23.02 (CE(S)T). Note that this will not be an account adjustment, as the knock-out level adjustment will incorporate the daily funding amount.

On a long turbo24 the knock-out adjustment will result in your knock-out level moving upwards over time, and on a short turbo24 it will move downwards.

The daily knock-out adjustment is determined by Raydius based on a specified market interest rate plus a risk adjustment factor calculated at its discretion.

For more information, please see the Key Information Document and prospectus for your turbo, plus the final terms published on the Raydius website.

* The market-maker normally makes a charge to reflect the guarantee on the knock-out level.

Commodities turbo warrants

All turbo warrants listed below are transferrable securities which give you an exposure to changes in underlying commodity prices.

Note: for information about Gold, please visit our forex and gold turbo24 product details section.

Commodity Currency [1] Multiplier [2] Trading hours
(CE(S)T) [3]
Maximum risk [4]
Oil - Brent Crude EUR 1

23:00 Sunday - 23:00 Friday

Initial outlay
Oil - US Crude EUR 1

23:00 Sunday - 23:00 Friday

Initial outlay

Notes

1. All turbo24s are traded in EUR, regardless of the underlying trading currency.

2. The overall value of a turbo trade is equal to the price of the turbo warrant (based on the difference between the underlying market price and your selected knock-out level, adjusted by the market’s multiplier and including the market maker’s charges*) multiplied by the number of turbos purchased. For example, buying 100 Brent Crude turbos with a price of 5.00 will give the following value:

5.00 (price) x 100 (turbos) = 500 EUR

3. Where indicated, 24-hour trading opens at 23.00 (CE(S)T) on Sundays and closes at 23.00 (CE(S)T) on Fridays, with breaks in trading on certain days as shown.

Turbo24s have a two-minute maintenance window between 23:00 - 23:02 (CE(S)T) daily, from Monday to Thursday.

4. The initial outlay to buy a turbo warrant is the opening price multiplied by the number of units. This is the maximum possible loss on the position.

5. When you trade in a currency other than your base currency, your profit or loss will be realised and booked to your account in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency when your position is closed. You may change this default at any time via our trading platform or by calling us.

6. Knock-outs will be determined against the underlying market price of a specific turbo warrant.

During out-of-hours sessions on 24-hour commodities markets, quotations will reflect the market maker’s view of the prospects for a market. This could include referring to price movements in other relevant markets which are open. There may be nothing against which to measure quotations at these times. While the market maker quotes when the underlying market is closed, knock-outs can only occur during the opening hours of the underlying market. This means that the market maker will price the listed instruments from 00.00 (CET) on Monday to 23.00 (CET) on Friday, with the maintenance window mentioned in note 3, but knock-outs will only occur when the underlying reference market is open.

a) Underlying opening hours for Brent Crude:
01:00 CE(S)T to 23:00 CE(S)T. Opens at 00:00 CE(S)T on night between Sunday and Monday.

b) Underlying opening hours for US Crude:
00:00 CE(S)T – 23:00 CE(S)T, opens at 00:00 CE(S)T on night between Sunday and Monday.

This means that the market maker will make prices on Brent Crude for 24 hours each day, but knock-outs are only possible during 22 of these hours.

The position is very similar for US Crude, with the difference being that knock-outs can happen during 23 hours of the day.

7. Turbos which have Brent or NYMEX (US crude) oil futures as their underlying market should roll to the next month's future on the second-to-last business day before the last dealing day of the current contract. For example, if 30 November is the last calendar day of the month, but the last trading day for the November future is the 28th, the issuer will change to the next contract on the 26th at 23.00. The issuer will ensure that the notional value of the turbo warrant remains the same when the underlying futures contract is rolled over to the next, by making any necessary adjustments.

For example, let’s say the underlying November Brent Crude is trading at a price of 7500 and the issuer has a long turbo with the knock-out level of 7400. Because of the overnight adjustment, the issuer is due to apply a knock-out adjustment of one point. As the premium is calculated by taking the difference between the underlying trading price and the knock-out level, the new premium price, after adjustment, would be 99. If the December Brent Crude future is trading at a different price than 7500, it would cause a discrepancy to the warrant’s premium. To ensure that warrant holders maintain the same notional position value after the rollover, the issuer will amend the warrant’s overall strike price. Therefore, if the underlying December Brent Crude future is trading at 8000, the new knock-out level will be calculated as 8000 – 99 = 7901, moving the knock-out level from 7400 to 7901 and thus keeping the warrant holder’s notional position value.

Every working order will be deleted from the order book whenever an underlying futures contract is rolled over.

8. A daily knock-out level adjustment is calculated by the turbo warrant issuer (Raydius) at 23.00 (CE(S)T) and applied when the maintenance window is completed at 23.02 (CE(S)T). Note that this will not be an account adjustment, as the knock-out level adjustment will incorporate the daily funding amount.

On a long turbo24 the knock-out adjustment will result in your knock-out level moving upwards over time, and on a short turbo24 it will move downwards.

The daily knock-out adjustment is determined by Raydius based on a specified market interest rate plus a risk adjustment factor calculated at its discretion.

For more information, please see the Key Information Document and prospectus for your turbo, plus the final terms published on the Raydius website.

* The market maker normally makes a charge to reflect the guarantee on the knock-out level.

All trades with a notional value of above €300 are commission-free.