FOREX.com vs DooPrime Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs DooPrime.
Can I trust FOREX.com?
FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust DooPrime?
DooPrime has a trust score of 84, giving it a "Trusted" trust label.
Is FOREX.com a good broker?
Is DooPrime a good broker?
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while DooPrime is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while DooPrime is none., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses FOREX.com is CIMA Authorised (Cayman Islands), while DooPrime is FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda) and FSC Authorised (British Virgin Islands).
Which broker offers more trading platforms?
Both FOREX.com and DooPrime offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does FOREX.com offer MetaTrader? Does DooPrime offer MetaTrader?
Both FOREX.com and DooPrime offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do FOREX.com and DooPrime differ in terms of minimum deposit? What about average spreads and funding options?
FOREX.com requires a minimum deposit of $100, while DooPrime requires a minimum deposit of $100. From our testing we found FOREX.com offers spreads of 1.0 (July 2022), while DooPrime offers spreads of -1. FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where DooPrime supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, FOREX.com or DooPrime?
FOREX.com offers a more diverse selection of investment options than DooPrime allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FOREX.com has 5500, compared to 10000 from DooPrime.
Can I trade cryptocurrency with FOREX.com or DooPrime?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor DooPrime allow you to trade physical cryptocurrencies.
Who offers more research tools, FOREX.com or DooPrime?
In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison DooPrime has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Autochartist