A new type of vibrating sample magnetometer (VSM) was designed for measuring the magnetic properties of soft and hard magnetic materials is described. The developed instrument differs from the traditional Foner type because in our system the motion of the specimen is parallel with the lines of the external magnetic field. Therefore, this instrument can be called parallel motion vibrating sample magnetometer (PMVSM). The special vibrating system contains a vibrating rod which holds the specimen. This arrangement can make the sample replacement and positioning fast and convenient. Because of the versatility of the PMVSM instrument it could be a useful measuring device for materials science laboratory and educational purposes as well.