> ## Documentation Index
> Fetch the complete documentation index at: https://docs.turbo.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Markets

> What you can trade on Turbo, and how markets stay open 24/7/365.

Turbo puts 260+ markets in one app across stocks, commodities like gold and oil, indices, currencies, crypto and [Pre-IPO names](/pre-ipo-markets). Every market is open 24/7/365.

## What you're actually trading

Every market on Turbo is a perpetual future — a contract that tracks the live price of an asset and never expires. You get the price exposure, long or short, without owning the underlying shares themselves, and without shareholder rights such as voting or dividends.

Because there's no expiry, there's nothing to roll over and no time decay working against you. You open a position, and it stays open until you close it — or until [liquidation](/liquidation), if it's leveraged and moves far against you.

## How can a stock market be open 24/7?

The New York Stock Exchange closes at 4pm — but the contract you trade on Turbo isn't routed to the NYSE. It trades on its own live order book, where prices are set by traders buying and selling around the clock. While the underlying exchange is open, funding payments keep the contract tracking the official price closely. When the underlying exchange closes, the market keeps trading on supply and demand — which means the price can move on news while the underlying market is closed.

Prices come from the order book itself: you can see the current bids and offers on any market, at any hour, before you trade.

## Leverage limits vary by market

Each market has its own maximum leverage, shown on its trade screen. More liquid markets generally support higher limits. See [Leverage](/leverage) for how it works.

## Finding markets

Browse or search from the app's home screen. Each market shows its live price, recent movement, and an order book you can inspect before you trade.

## Related

* [Pre-IPO markets](/pre-ipo-markets) — trade names before they list.
* [Funding](/funding) — the mechanism that keeps contract prices honest.
* [Order types](/order-types) — market and limit orders explained.