Companies will let you set up for as little as £200. I would suggest setting up your first account with a minimum of £1,000. This will allow you to absorb more losses than with £200 or £500, keep your betting size to small fraction. I suggest that 2% is an ideal maximum risk but with a small account 5% is generally figure used.

3. Start Slow

 
4. Increasing your profits

This means simply never increase you position when the market moves against you. Although if you are up then increasing you position can be advisable; a  good example would be when you open at £1 a point on the FTSE at 6000, stop loss at 5900. The market moves to 6100. That means a profit of £100. In this example you buy another 50p and moving your stop to 6000. Should the market move against you, you will break even on the £1 point per trade but be £50 up on the 50p per point trade. (If doesn’t seem to make sense just read again slowly and it will become clearer).

 
6. Daily Bets

When placing your bet always use a stop loss (maybe even a guaranteed stop loss) and perhaps a limit order. This will then protect you if the market suddenly turns against you.

10. Profits

Financial betting can be confusing and scary. If you feel overwhelmed then just sit back watch the markets and wait until you feel safe to stick your toe back in the water. When you start to master the intricacies of financial spread betting then it can be a rewarding and even fun experience.