For under £200, you'll struggle to get any proper stabilisation system worth having, imho.
Yes, you will
get a bit of stabilisation from a system like that, but they're built very cheaply, and won't last particularly long. I've never used the Flycam system myself, but I've read reports of its construction being a little bit shoddy. To me, that seems like a waste of money.
So, I'd suggest that either:
For under £20 you can get a simple shoulder mount like this
, which will help steady your handheld shots, and costs a tenth of the price.
Save up some more, until you can afford a proper system like a Steadicam Merlin
, which will give you vastly superior results.
Hope this helps!