if i want to start my account with $500 what leverage is good to use???
This post from earlier today - and [U]especially[/U] its first sentence - should help you.
The issue you’re asking about shouldn’t really be relevant, and [U]doesn’t depend on your account-size[/U], and certainly shouldn’t be anything you use as the basis of determining anything else.
What matter are your [I]risk-management parameters and position-sizing[/I], not your leverage. And that’s just as true with a $500 account as it is with a $500,000 account. Clarity over this point can only help you, before trading a real-money account.
Apologies indeed if it sounds like something of a criticism (not my intention at all), but I suspect that you may be asking your question from a perspective regarding leverage which might not quite be an appropriate or relevant one … and I think (and hope!) that you may also find a slow, careful read through this thread helpful.
Yeah definitely read the threads which lexys referred to. However, using too high leverage for example 1:1000 may give you the illusion that you can open new trades at any time without closing/hedging because it only requires a tiny part of your account. That could expose you to overtrading so you might want to read also this thread 
For being a new Forex trader you should go with low trading leverage facility, so I seem 1:100 would be a good selection for you! Besides, you need to select your trading lot size consciously as your trading balance is below 1K, Market is always here; so don’t be rush! Try to gather your experience first then profits will come automatically! Best of luck for your trading!
Oh you make it sound so easy
I am use 1:50 for these capital and I felt enough already, but if I am use smallest capital less than hundred dollar usually will prefer use 1:500 although this is included as high leverage and maybe many trader not suggested this leverage
As a starter trader, you can choose 1 : 400 or even 1 : 200 if you are a bit bad with money management control.
You DO NOT accommodate mismanagement, as the hole gets deeper, faster failure will be evident at a rapid pace with this type of leverage.
Your thinking backwards in a sense with your post.
Interesting to see the customary wide range of Babypips opinion offered in this thread: so far, suggestions of 1:50, 1:100, 1:200 and 1:400 have been mentioned.
It seems that even in answering “I’m opening my account with $500 - what size leverage should I use with that?”, everyone here is completely oblivious to the fact that the leverage selected [U][B]isn’t[/B][/U] related to the size of account being opened.
The OP is asking a question clearly based on a substantial misunderstanding, guys: don’t you think it might actually be [B][U]helpful[/U][/B] to him to point that out, rather than simply plucking arbitrary figures out of the air? 
It all depends how diversified are you. How many pairs and so on. If your broker is good it can allow you with about $100 be diversified. But not all of them have what it says. Would not be going over 100:1 leverage if just few pairs and correlation.