DooPrime vs Trade Nation 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 DooPrime vs Trade Nation.
Can I trust DooPrime?
DooPrime has a trust score of 83, giving it a "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 Trade Nation?
Trade Nation has a trust score of 83, giving it a "Trusted" trust label.
Is DooPrime a good broker?
DooPrime is primarily a MetaTrader broker that offers both MT4 and MT5, along with several copy trading platforms and its proprietary In Trade platform. Founded in 2015, DooPrime is a relatively new forex broker regulated in multiple Tier-1 jurisdictions, like Hong Kong and the U.K., boosting the broker's overall Trust Score. DooPrime also provides nearly 10,000 tradeable symbols, but we were unable to obtain average spread data when evaluating the broker's trading costs.
Is Trade Nation a good broker?
Trade Nation is a trusted broker that offers an innovative, easy-to-use proprietary trading platform suite alongside MetaTrader 4. Trading signals powered by Acuity are also available within Trade Nation's Signal Centre. That being said, a lack of advanced trading features may leave experienced traders wanting more.
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. DooPrime is Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised), while Trade Nation is Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
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, DooPrime is none, while Trade Nation is South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses DooPrime is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised), while Trade Nation is Bahamas (SCB Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Cayman Islands (CIMA Authorised).
Which broker offers more trading platforms?
Both DooPrime and Trade Nation offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does DooPrime offer MetaTrader? Does Trade Nation offer MetaTrader?
For MetaTrader DooPrime provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do DooPrime and Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?
DooPrime requires a minimum deposit of $100, while Trade Nation requires a minimum deposit of $0. From our testing we found DooPrime offers spreads of N/A, while Trade Nation offers spreads of 0.6. DooPrime supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).
Which broker offers more tradeable asset classes, DooPrime or Trade Nation?
DooPrime offers a more diverse selection of investment options than Trade Nation allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, DooPrime has 10000, compared to 601 from Trade Nation.
Can I trade cryptocurrency with DooPrime or Trade Nation?
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 DooPrime nor Trade Nation allow you to trade physical cryptocurrencies.
Who offers more research tools, DooPrime or Trade Nation?
In terms of research and research tools DooPrime gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Trade Nation has the tools listed here: Stock Charts and Forex News (Top-Tier Sources).. Neither have Autochartist
Overall winner: DooPrime
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.