Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs DooPrime, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Charles Schwab, founded in 1971, stands as a highly trusted online broker with a top-tier ForexBrokers.com Trust Score of 99 out of 99. As a publicly traded company and a recognized bank, Charles Schwab holds 5 Tier-1 licenses, signaling its strong regulatory standing in the financial industry. On the other hand, DooPrime, established in 2014, offers trust with a ForexBrokers.com Trust Score of 83. Although not publicly traded and not a bank, DooPrime still maintains a solid regulatory framework with 4 Tier-1 licenses.
Both brokers are supported by their regulatory clearances, with Charles Schwab demonstrating a longer history and broader recognition as a financial institution, while DooPrime provides a reliable option for those seeking a trusted online brokerage. Neither company holds Tier-2 licenses, focusing instead on their stronger Tier-1 regulatory assurances.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 4 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Charles Schwab and DooPrime are two brokers that differ in their approach to commissions and fees, making them suitable for different types of traders. Charles Schwab stands out with its lack of a minimum deposit requirement and a wide range of account types. For forex traders, two accounts offer access to the thinkorswim platform where trades can be settled in U.S. dollars. Schwab also allows access to international markets through the Schwab Global account, although currency conversion fees apply. While Schwab doesn’t charge commissions directly, trading costs emerge from the bid/ask spreads, with the EUR/USD spread averaging 1.35 pips. Schwab also provides a calculator to estimate overnight carry charges, offering transparency in trading costs.
On the other hand, DooPrime lacks available data on average spread, which might pose a consideration for potential traders. This limited transparency could make it challenging for traders to precisely gauge trading costs, particularly when compared to Schwab's detailed approach. DooPrime may appeal to those who prioritize other aspects of trading beyond cost transparency.
When evaluated, Charles Schwab receives a commendable 4-star rating out of 5 for its commissions and fees from ForexBrokers.com, placing it 23rd among 63 brokers. In contrast, DooPrime earns a 3-star rating, ranking 59th. These ratings reflect Schwab's broader appeal to traders who value detailed cost transparency, whereas DooPrime might be more suited to traders seeking different features or services.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of Charles Schwab and DooPrime, both brokers provide a wide scope of opportunities, yet they cater to different investor preferences. Charles Schwab stands out with an impressive 40,000 tradeable symbols, including 73 forex pairs, along with exchange-traded securities on both U.S. and international exchanges. It also offers the ability to trade cryptocurrency derivatives, making it an attractive choice for those seeking diverse investment options. Although Charles Schwab doesn't provide copy trading, its comprehensive range of investments earns it a stellar five-star rating and a #5 ranking in the Range of Investments category by ForexBrokers.com.
DooPrime, on the other hand, offers 10,000 tradeable symbols and a selection of 60 forex pairs, which, while less than Schwab, is still substantial. Just like Charles Schwab, DooPrime allows trading of exchange-listed securities from U.S. and international markets but does not support the purchase of cryptocurrency derivatives. A key feature of DooPrime's offering is its copy trading option, appealing to investors who prefer a more hands-off approach. With a five-star rating for its range of investments and a #12 ranking by ForexBrokers.com, DooPrime remains a strong contender for investors focused on strategic, automated investment methods.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 10000 |
| Forex Pairs (Total) | 73 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of Charles Schwab and DooPrime, both brokers provide an impressive array of features tailormade for traders. Charles Schwab stands out with its in-house developed platform and offers the flexibility of both desktop and web-based trading options. It also provides a free virtual demo account for simulated trading. DooPrime similarly matches these offerings with a proprietary platform and a virtual trading option. However, DooPrime takes the lead in versatility by supporting popular third-party trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are favored by many traders for their advanced features.
When digging deeper into specific functionalities, Charles Schwab offers traders 24 drawing tools for charting, while DooPrime provides 15. Additionally, Schwab excels with a remarkable 580 fields for watch lists compared to DooPrime's seven. Notably, DooPrime offers copy trading, a feature that Schwab lacks. These differences contribute to Schwab's superior rating of five stars for trading platforms and tools compared to DooPrime's four stars. In rankings by ForexBrokers.com, Charles Schwab takes the fifth spot out of 63 brokers, whereas DooPrime is ranked at 25. Overall, traders looking for well-rounded platforms may find Schwab more compelling, while those prioritizing third-party platform support might lean towards DooPrime.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and DooPrime provide traders with mobile apps for both iPhone and Android devices, making it easy to trade on the go. They offer essential features like stock and forex price alerts, the ability to draw trendlines, and viewing different time frames on charts. However, Charles Schwab stands out with its more advanced features, including syncing watchlist symbols across devices, which is not available with DooPrime. Charles Schwab also offers a wider array of technical studies for charting—374 compared to DooPrime's 30, providing users with more detailed analysis options.
When it comes to user ratings and rankings, Charles Schwab's mobile trading app is highly rated at 5 stars, ranking 6th among 63 brokers according to ForexBrokers.com. In comparison, DooPrime's app is rated 4 stars and holds a ranking of 25th. Both apps offer the ability to create watchlists with real-time quotes and auto-save drawings, but Charles Schwab's app appears to cater more comprehensively to the needs of technically inclined traders. This thorough feature set might explain its higher user rating and ranking.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When considering Charles Schwab and DooPrime for market research, both brokers provide daily market commentary and deliver forex news from established sources like Bloomberg and Reuters. However, their offerings diverge in specialized tools and additional features. Notably, Charles Schwab lacks technical analysis tools from Trading Central, while DooPrime fills this gap by providing such resources. Yet, neither broker offers sentiment-based trading tools or research through companies like TipRanks or Acuity Trading. For those prioritizing comprehensive analytical tools, DooPrime may have a slight edge due to its Trading Central support, although both companies maintain useful economic calendars to track global events.
In terms of overall research quality, Charles Schwab is highly rated with five stars, securing the fourth position among 63 brokers by ForexBrokers.com, demonstrating its strong reputation for research. Meanwhile, DooPrime earns a respectable four-star rating but is positioned lower at 29th in the same category. This suggests that while DooPrime offers competitive market insights and essential news, Charles Schwab stands out for its broader and possibly more effective research capabilities, making it a preferred choice for those seeking top-tier research resources.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by Charles Schwab and DooPrime, both brokers provide a solid foundation with at least 10 educational pieces focusing on forex and CFDs. This comprises articles, videos, and archived webinars, essential for those new to trading. However, Charles Schwab stands out with its commitment to continuous learning through monthly online educational client webinars, something DooPrime does not offer. Furthermore, Charles Schwab provides a searchable archive of previously recorded webinars, giving users the flexibility to learn at their own pace, while DooPrime lacks this feature. Both brokers cater to varied learning styles by offering numerous beginner and advanced videos specifically tailored for traders at different experience levels. However, Charles Schwab enriches the learning experience with an investor dictionary, enhancing understanding through clear definitions of over 50 investing terms, a resource not provided by DooPrime.
In terms of ratings and rankings, Charles Schwab scores a full 5-star rating in the education category, reflecting the breadth and accessibility of its resources. In contrast, DooPrime receives a respectable but lower rating of 4 stars. ForexBrokers.com further highlights this distinction, ranking Charles Schwab at an impressive #6 out of 63 brokers for educational offerings. Meanwhile, DooPrime holds a #25 rank, indicating room for growth when it comes to educating traders. For beginners prioritizing comprehensive educational support in their trading journey, Charles Schwab seems to offer an edge with its diverse learning resources and strong industry ratings.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than DooPrime. Charles Schwab finished with an overall rank of #6, while DooPrime finished with an overall rank of #28.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
|
DooPrime
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
While Charles Schwab provides the option to buy cryptocurrency derivatives but not actual cryptocurrencies, DooPrime does not offer either the ability to purchase actual cryptocurrencies or their derivatives.
When comparing the online brokers Charles Schwab and DooPrime, Schwab supports ACH and SEPA transfers along with bank wires for account fund transactions but lacks options like PayPal, Skrill, Visa, and Mastercard, while DooPrime enables deposits and withdrawals via PayPal, Skrill, Visa, Mastercard, and bank wires, yet it does not offer ACH or SEPA transfers.
Please note:
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | DooPrime | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | DooPrime | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Charles Schwab | DooPrime | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 4 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | DooPrime | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | DooPrime | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | DooPrime | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 10000 | |
| Forex Pairs (Total) | 73 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Charles Schwab | DooPrime | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | DooPrime | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | DooPrime | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | DooPrime | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | DooPrime | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | DooPrime | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | DooPrime | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | DooPrime | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review |
| Overall | Charles Schwab | DooPrime | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill