# Your first wager

> From sign-up to your first settled wager, step by step.

Source: https://help.sportsxapp.com/ca/getting-started/your-first-trade/

1. **Create your account** in the app or at [stxapp.ca](https://stxapp.ca), and complete [identity verification](https://help.sportsxapp.com/ca/account/verifying-your-identity/).
2. **Deposit funds.** Go to **Transactions** and choose **Deposit Funds**. The minimum deposit is $10. See [Depositing funds](https://help.sportsxapp.com/ca/payments/depositing-funds/).
3. **Pick a market.** Each market is a YES or NO question, such as whether the home team wins. In most markets, buying is a wager on the home team (or the OVER for totals) and selling is a wager on the away team (or the UNDER).
4. **Place an order.** Choose buy or sell, the number of contracts and a price.
   - A **market order** fills right away at the best price available in the order book.
   - A **limit order** fills only at your price or better, and waits in the order book until someone matches it. See [How to place a limit order](https://help.sportsxapp.com/ca/using-the-exchange/how-to-place-limit-order/).
5. **Watch or close your position.** You can sell (or buy back) contracts at any time before the market expires to lock in a gain or cut a loss.
6. **Settlement.** When the market expires, each contract pays $1 if the result is YES and $0 if it is NO, and the money goes back to your available balance.

## How much can I win or lose?

If you buy 10 contracts at 40¢, you risk $4. If the market settles YES, they are worth $10, so you gain $6 before fees. If it settles NO, you lose the $4. Fees depend on whether your order was a maker or taker order and on your loyalty tier; see the [Fee Schedule](https://stxapp.ca/info/fee-schedule/).

Only wager what you can afford to lose. You can set deposit, loss and wager limits at any time; see [Responsible gaming](https://help.sportsxapp.com/ca/responsible-gaming/responsible-gaming-resources/).