[KellyCriterion]

It is somehow comparable but with a CFD you are betting against the market maker /issuer of the CFD, while with a turbo you bet against the market directly - the issuer is just arranging the countposition in the background.

The loss is implemented by a knockout value, depending on your leverage. In all EU countries there is no margin call allowed for retailers, but this is not relevant for turbos anyway. The loss is included in the deprecation of the price of the turbo, the issuer is just the middleman, being neutral. Compared to a CFD issuer, which can print whatever price it wants. With a turbo, the price of the turbo instrument is connected by a simple formula with the underlying price.

A turbo has an ISIN, and is highly regulated by the Financial Supervision Authorities.

Actually, turbos are a professoinal instrument but they are sold to retailers as well in most countries.