Turbo24 costs and pricing
We think it’s essential to be transparent about our costs, so you can keep your focus where it should be: on your trading. No hidden charges. Only award-winning service and technology.
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.
How much does it cost to trade Turbo24 with us?
We chareg zero commission on Turbo24 trades wirth EUR 300 and more notional value, while still delivering the highest levels of services and effiency.3
On trades with a notional value (consideration) below €300, you’ll pay commission of just €3 – a small charge to ensure the sustainability of our Turbo24 offering.
Turbo24 pricing
Your initial outlay
To place a trade, your outlay will be the purchase price multiplied by the number of turbos you’re buying. On the deal ticket, you’ll see this shown as the ‘consideration’.
The purchase price is based on the difference between the underlying market price and your selected knock-out level, plus a small risk-protection premium (explained below). You’ll receive this premium back, unless your trade is knocked out. And, since the premium is automatically included in the price of your turbo, the price you pay upfront is all you’ll pay.1
Know your outlay in advance
For extra peace of mind, you can calculate the price of your trades before committing to them using our platform’s built-in turbo calculator.
Price features to keep in mind
The price at which you buy a Turbo24 includes certain built-in costs to account for things like overnight funding and the risk of the price gaps. We’ve listed them below.
Overnight funding
Overnight funding will only affect you if you keep a turbo trade open past 11pm CET.
As Turbo24 is a leveraged product, it effectively involves a loan of part of an asset’s value to you. This means that there’s a small cost for funding when positions are held overnight. It’s reflected in the price as a daily adjustment to your knock-out level.
Click on each market to see how its overnight funding is calculated.
- Forex
- Indices
- Commodities
- Equities
Forex
The cost of overnight funding is accounted for by a small daily adjustment to your knock-out level at a rate of 3% per annum with relevant tom-next or interest rates added or subtracted.
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.
For forex long turbos, the following formula is applied:
Overnight funding amount = tom-next + knock-out level x (funding rate x [n/365])
For forex short turbos, the following formula is applied:
Overnight funding amount = tom-next - knock-out level x (funding rate x [n/365])
Funding rate = 3%
n = 1 for Monday to Thursday
n = 3 for Friday
Indices
The cost of overnight funding is accounted for by a small daily adjustment to your knock-out level, applied at 11.02pm CET.
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.
For index long turbos, the following formula is applied:
Overnight funding amount = [{ - (rate + spread adjustment) - funding rate} / 365] x knock-out level
For index short turbos, the following formula is applied:
Overnight funding amount = [{ (rate + spread adjustment) - funding rate} / 365] x knock-out level
Rate = Alternative Reference Rate (ARR) depending on the currency in which the underlying market is trading, as shown in the table below.
Spread adjustment = a one-month adjustment proposed by the International Swaps and Derivatives Association (ISDA). For more information, see our IBOR transition page.
Funding rate = 3.5%
| Currency | ARR | Spread adjustment (%) |
|---|---|---|
| GBP | SONIA | 0.0326 |
| USD | SOFR | 0.11448 |
| EUR | ESTR | 0.0456 |
| CHF | SARON | -0.0571 |
| JPY | TONA | -0.02923 |
Example
Knock-out level: 10,000
SONIA: 0.45%
GBP spread adjustment: 0.0326%
Funding rate: 3.5%
Daily overnight funding for a long turbo: [{ - (0.45% + 0.0326%) - 3.5%} / 365] x 10,000
Daily overnight funding for a short turbo: [{(0.45% + 0.0326%) - 3.5%} / 365] x 10,000
Commodities
The cost of overnight funding is accounted for by a small daily adjustment to your knock-out level, applied at 11.02pm CET.
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.
For commodity long turbos, the following formula is applied:
Overnight funding amount = knock-out level x (funding rate x [n/365])
For commodity short turbos, the following formula is applied:
Overnight funding amount = knock-out level x (funding rate x [n/365])
Funding rate = 3.5% for Brent Crude and US Light Crude, 4% for Gold
n = 1 for Monday to Thursday
n = 3 for Friday
Equities
The cost of overnight funding is accounted for by a small daily adjustment to your knock-out level, applied at 11.02pm CET.
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.
For equity long turbos, the following formula is applied:
Overnight funding amount = [{ - (rate + spread adjustment) - funding rate} / 365] x knock-out level
For equity short turbos, the following formula is applied:
Overnight funding amount = [{ (rate + spread adjustment) - funding rate} / 365] x knock-out level
Rate = Alternative Reference Rate (ARR) depending on the currency in which the underlying market is trading, as shown in the table below.
Spread adjustment = a one-month adjustment proposed by the International Swaps and Derivatives Association (ISDA). For more information, see our IBOR transition page.
Funding rate = 5%
| Currency | ARR | Spread adjustment (%) |
|---|---|---|
| GBP | SONIA | 0.0326 |
| USD | SOFR | 0.11448 |
| EUR | ESTR | 0.0456 |
| CHF | SARON | -0.0571 |
| JPY | TONA | -0.02923 |
Example
Knock-out level: 10,000
SONIA: 0.45%
GBP spread adjustment: 0.0326%
Funding rate: 5%
Daily overnight funding for a long turbo: [{ - (0.45% + 0.0326%) - 5%} / 365] x 10,000
Daily overnight funding for a short turbo: [{(0.45% + 0.0326%) - 5%} / 365] x 10,000
The daily knock-out level adjustment is defined by Raydius on the basis of the specific market interest rate plus a risk premium determined by the issuer at its discretion.
For more information, please consult the key information document (KID) and the prospectus for your turbo, as well as the final conditions published on the Raydius website.
Risk Management premium
To limit your risk to your upfront outlay, turbos come with built-in protection in the form of knock-out levels. You choose your knock-out level before you place each trade, and it determines where your trade will close if the market moves against you.
There’s a small premium for this protection, applied to the price by the market maker. It’s part of the outlay to open your position, and not separated out.
Dividend adjustments
In the same way that the knock-out level will vary due to the cost of overnight funding, it can also move as a result of dividend payments if the Turbo24 is linked to the performance of an underlying equity or index. This adjustment may increase the value of the turbo price for long positions and decrease it for short positions.
Spreads
Spreads for Turbo24 are based on prices taken from Spectrum, the multilateral trading facility on which the turbos are listed. When you trade turbos, you’ll be able to view the order book and choose from a range of these prices – even placing an order inside the spread if you want to try for a better deal.
Spreads for Turbo24 are included in the price of the security, which is the total you can expect to pay for a turbo trade.1
Open a Turbo24 account online – it’s quick and easy
Open a Turbo24 account online – it’s quick and easy
Trade on a market-transforming venue
Turbo24 is listed and traded on Spectrum – an advanced multilateral trading facility specifically designed to offer transparency and liquidity to retail clients
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Trade with an experienced provider
We’re a FTSE 250 company with more than 45+ years experience, so our expertise is second to none
Open an account now
Open an account now
Trade on a market-transforming venue
Turbo24 is listed and traded on Spectrum – an advanced multilateral trading facility specifically designed to offer transparency and liquidity to retail clients
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Trade with an experienced provider
We’re a FTSE 250 company with more than 45+ years experience, so our expertise is second to none
Turbo24 costs summarised
Here’s a handy list of the charges to consider when you trade turbos with us:
- Basic outlay (consideration): purchase price x number of turbos
- Commission: zero for Turbo24 trades worth €300 or more, otherwise €3
- Overnight funding: a knock-out adjustment, payable if you keep turbo trades open past 11pm CET
- Risk-protection premium: a built-in charge for protection against market gaps – returned to you if your knock-out level isn’t breached
- Dividend adjustments: a movement in the knock-out level when dividends are paid on an underlying equity or index
- Spreads: taken from Spectrum's prices and included in your outlay for a Turbo24 trade
Award-winning service
We make your money work harder, so you don’t have to. We’ve been recognised4 time and time again by our industry, both for the services and the technology that we provide.
Best for Forex Trading
Investopedia
Online Brokers Awards 2019
#1 Overall Broker
ForexBrokers.com Annual Review
Best CFD Provider
Online Personal Wealth Awards
Best Stocks and
Shares ISA Provider
Online Personal Wealth Awards
Best Multi
Platform Provider
ADVFN International Financial Awards
Best Finance App
ADVFN International Financial Awards
ForexBrokers is compensated by IG for marketing
FAQs
What is a multilateral trading facility (MTF)?
An MTF is a trading venue that electronically facilitates the exchange of financial instruments between multiple parties (both buyers and sellers).
Turbo24 is listed and traded on Spectrum – an MTF based in Frankfurt, Germany.
What is a market maker?
A market maker is a company or an individual that holds inventory of and deals in a tradable asset (or assets). They quote a buy and sell price and then rapidly execute trades at those prices, helping to create a straightforward way to place trades.
What is the spread?
For Turbo24, the sell and buy prices are taken from the multilateral trading facility on which the securities are listed, Spectrum. However, you have access to view all the prices available in Spectrum’s order book and can choose to place orders inside the spread.
Is there a currency conversion charge?
All our Turbo24 markets are offered in euros, so if your account is euro-based, you won’t need to convert any profits you make from turbo trades.
What are tom-next rates?
Tom-next is the rate used to calculate the funding adjustment when a forex position is held overnight. It’s an industry-standard rate, derived from the interest rate differentials of the pair’s currencies and market expectations of interest rate change.
Are there any account fees?
You won’t pay any account fees on your Turbo24 account with IG. The only costs are the purchase prices of any turbos you buy – which include spreads and fees – plus potentially commission, overnight funding and dividend adjustments.
Try these next
Learn how you can access opportunity around the clock with Turbo24.2
Discover the features of this ground-breaking turbo warrant.
Learn all about turbo warrants and how they work.
1 Turbo24 trades based on underlying assets listed in Italy are subject to the Tobin tax.
2 All turbos can be traded 24/5, except for equities and some indices (such as HS50) that follow the trading hours of their reference exchange(s). More info here.
3 Other costs apply.
4 Trusted" and "Award-winning”, #1 Overall Broker, #1 Mobile App, #1 Trust Score, #1 Education, #1 Web Platform are accolades presented to IG on January 23, 2024, during the ForexBrokers.com 2024 Annual Awards. Accolades were awarded by the ForexBrokers.com research team based on demonstrated excellence in categories considered important to investors, traders, and consumers. Click here to learn about how they rate brokers.
