Online broker Selftrade is to repay net losses of up to £200 to anyone opening a Contracts For Difference (CFD) or Spreadbetting account before 20 October 2010.

The deal is subject to a minimum of £500 deposit and carrying out three closing trades within 30 days of opening the account.

Stephen Walsh, product manager at Selftrade said the company is keep in raise awareness of the benefits of CFDs and spreadbetting by encouraging first time traders to try their skills.

He explained, ‘This is a new type of offer that we are introducing and means that investors can trade, safe in the knowledge that they can recoup up to £200, should they make any net losses.

‘We believe this represents a good opportunity for investors to try CFDs or Spread betting for the first time.’

CFDs and spreadbets offer the potential to make profits (or losses) in both bull and bear markets, with the opportunity to go 'long' or 'short' and trade online or over the phone.

Both investment vehicles are exempt from UK Stamp Duty and SB profits are exempt from Capital Gains Tax, although CFD profits are chargeable.

CFDs and Spreadbetting also give you access to a range of investments including UK and international equities, indices, sectors, currency pairs, commodities and precious metals.

Those interested in learning more about CFDs and Spreadbetting can register for one of Selftrade’s webinars taking place on the 11 October 2010.