Flat Earth Forex staff have a long history with Oanda. We first opened our account in 2014(?). This is an interesting broker as it is generally only allowed to offer services in Canada, Singapore and a few other countries, where margin leverage is restricted to 50:1 (2% of equity per account). In our opinion, one of the reasons we have become profitable on a daily basis with Oanda, is because it has been forced by regulators to offer margin leverage at a maximum of 50:1. This restriction helps prevent customers like you and me from blowing up our accounts through overleveraging and undercapitalizing.

Our recommendation is that even novice traders can comfortably trade with Oanda, as longas they never expose themselves to margin leverage above 50:1 (2%) which is enforced anyway on Oanda, by government regulation, in most jurisdictions (such as Canada or Singapore).