When a need or interest arises for new ways to make money, one may consider becoming a Forex market trader. The Forex market is the foreign currency exchange market and it is the largest trading market worldwide. The Forex market is essentially a bartering system using currencies from all over the world. Globally, this market is the greatest liquid financial market and it deals in excess of billions of dollars daily. This market is very active and very unstable but that is due to a lack of regulation of the market. The foreign currency exchange market is considered an over the counter market because there is no central location, it is a virtual market.

Trading on the Forex market works by the simultaneous buying and selling of foreign currencies.  Trades can occur within a day's time while other can take up to several weeks depending on the particular trading strategy being implemented. Becoming a trader in the Forex is simple; you start an account based on your financial status. This market is not limited to the very wealthy there are smaller accounts for those wishing to trade but have smaller amounts of capital. 

The best type of account for a new trader is the Forex mini account. A Forex Mini account is a foreign currency trading account that is smaller than a regular foreign currency trading account. A mini account allows for much smaller trades and is used as an introductory account for beginning traders. The smaller trades mean less risk for the Forex trader. With a Forex mini account there is a guarantee of limited risk because there are safeguard features to keep investors from trading and losing more money than they have in their trading account.

To start a Forex mini account the requirements are a balance less than ten thousand dollars.  With this account a lower capital amount is needed to start, usually two hundred fifty dollars minimum. One of the important advantages of this account is you can develop your trading confidence and strategy by starting relatively small. A trader can Use this type of account to build up their lot size at a slow and cautious pace. Since less money is involved and the trader can focus on building trading strategy and not worry as much about the money at risk; potential loss is in smaller amounts. There are many brokers online that offer mini trading accounts and have incentives for starting new accounts of this type. Brokers may offer cash back, discounts or rebates as incentives. Use caution when starting a Forex account do not venture beyond your financial ability.