Until recently trading foreign exchange was exclusively controlled by large monetary organizations. The huge popularity of word wide web and Atomated Forex Systems had changed this. Mini forex accounts are ideal for abobody who is interested in forex trading. You need to be very rich or very self-assured to begin directly with a standard currency trading account if you are a small trader. A forex mini account lets anyone to get started without risking so much cash and this makes it an extremely attractive option for lots of men and women.

Check out this well written tutorial on mini forex accounts with very good info.

Mini currency trading accounts commonly allow you to trade with just 1/10th of the regular size of the lot. That is 10k units of foreign exchange instead of regular 100,000 lot size.
Certainly you do not have to have that much in your broker account. We know currency trading works with leverage. Suppose you are trading with 100 times leverage then you just need $100 to control $10k in your forex mini account or thousand dollars to control $100K for a standard forex account.

USD100 or 100 units of other currency per trade is enough to commit to a trade when they are starting out and that is the reason the mini forex account is so popular.

The size of the pip is also typically smaller in a mini forex account. pips are units in which you will determine your gains, losses and costs (the spread). Their dollar value can change depending on the fx pair in your trade, the lot size and other characteristics of yourforex broker, but a common standard pip size is Ten dollars and forex mini accounts pip size is $1.
Some currency trading brokers are now quoting prices to 5 decimal places which mathematically will make one pip 0.00001 of the quoted price, however let us continue to use the regular 4 decimal place pip for this example.

So if you got a standard trading account you may have to commit $1,000 on each trade, to trade lots of $100K and calculate your profits in $10 units.
In case you have a mini trading account you can expect to place $100 on each trade, for trading lots of $10,000 and calculate your gains in $1 units.

Of course you can place stop losses so that you need not have to risk all of the money that is committed for trading. But your losses will be measured in terms of pips so these too will be 10 times bigger on the standard account.

When you make lot of profits and your investment grows, you might be interested in trading bigger sums. We can still do this in your mini forex account by trading a number of lot simultaneously. So if you want to trade a standard lot size you would just trade 10 mini lots. Keep in mind that this could be a tough process without the help of program like Forex Autopilot Robot.