So you want to start spread betting do you? They say all beginnings are hard, the case is different with spread betting and financial spread betting in particular. Getting started with financial spreadbetting is very easy, all you need is to sign up with a spread betting company, deposit some money and place your first bet.
There’s nothing stopping you. There are some things you should know before you get started:
Spread Betting is risky – If you don’t know what you are doing you are bound to lose money as luck just won’t help you. Financial spread betting requires some financial knowledge you must know the basics before you start. You can’t bet on FTSE 100 if you don’t know what that is (Top 100 companies in the London stock exchange).
Stop loss – one of the greatest inventions in financial spread betting (for the gambler not for the spread betting company). With stop loss you can prevent losing more money than you initially invested in your spread betting account. This means that even if the bet goes against you, the maximum you can lose is the amount you deposited and not more than that.
Stay away from recommendations and tips – If someone knows that the Google stock (GOOG) is going to go up, he won’t tell anyone about that and invest on his own not to ruin it for himself. There’s no free money, do your research and invest based on your knowledge.
Start Spread Betting with a practice account – There’s nothing better than losing fake money and there’s nothing worse than losing real money. It’s better to try and get familiarized with financial spread betting before you go ahead and bet for real money. This way you can get to know how it works and maybe even win some practice money.
So what you need in order to start spread betting:
1. You need to open an account with a spread betting company.
2. Deposit funds into your spread betting account.
3. Start betting
Yes, as easy as that – you can get started with spread betting in less than 5 minutes.
Gamble responsibly – Good luck