Most popular Forex brokers offer Forex mini trading accounts. Mini accounts are great for traders new to the Forex market and for those who have limited funds. Forex mini accounts can be opened with as little as $250, whereas standard accounts generally require $2,500.

In a mini account, the size of each contract is 10,000 units of the base currency (often USD), whereas in standard Forex accounts the size of each contract is 100,000. So, a Forex mini account allows you to trade 1/10th the size you could trade in a standard contract.

Another advantage of a Forex mini account is if compounding is part of your strategy you will be able to begin compounding earlier than you would if you had a standard account.

Most Forex brokers will give you the same tools and services regardless of what account type you have, so you really can’t lose by choosing a mini account.