Spectrum Markets Enhances Offering by Adding Crypto Turbo Warrants
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Loading... - Tiffany Drivas
- 04 May 2022
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Frankfurt-based Spectrum Markets announced on Wednesday the addition of cryptocurrency derivatives to its existing product line. It has launched turbo warrants trading with Bitcoin and Ethereum.
Trading with the new crypto derivatives will be available around the clock but only for five days a week, Monday to Friday, the press release shared with Finance Magnates detailed.
“We are proud to continue our track record of innovating to provide a better way for Europe’s retail investors, and this launch responds to a very strong demand for versatile exposure to cryptocurrencies ,” said Nicky Maan, Spectrum Markets’ CEO.
Spectrum is known for offering securities derivatives to retail traders across Europe. The demand for its offerings exploded over the recent years. Its trading turnover in the first quarter of 2022 jumped by 188 percent after closing 2021 with a 93 percent jump.
The trading platform first started turbo warrants offerings last September, but only for selected stocks. Now, it has extended these instruments for cryptocurrency trading, which has been added to Spectrum’s existing suite of Turbo24.
What Are Turbo Warrants?
Turbo warrants or certificates are similar to contract for differences (CFDs) in many aspects: both are leveraged investment products. However, turbos have a built-in stop loss, and positions are automatically closed once a predetermined price level is reached.
While CFDs closely resemble futures, turbo warrants are closer to options where loss is effectively restricted.
“As well as being an easy way to access cryptocurrencies via their broker with a limited outlay, the Turbo24 products provide investors with tools to hedge exposure and better control their risk in what is, after all, a highly volatile asset class. Read More...
