Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets and DooPrime are well-regarded online brokers, each offering unique regulatory features for traders. IC Markets, founded in 2007, holds two Tier-1 licenses, considered highly trustworthy according to ForexBrokers.com, and boasts a Trust Score of 84, placing it firmly in the trusted category. Although not a publicly traded company or a bank, IC Markets has established itself as a reliable choice with its strong regulatory backing.
DooPrime, on the other hand, entered the market in 2014 and holds four Tier-1 licenses, signaling a high level of trustworthiness despite not being listed on a stock exchange or functioning as a bank. With a Trust Score of 83, DooPrime is also categorized as a trusted broker. Both platforms provide secure and reliable options for users looking to engage in online trading within a trusted regulatory framework.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Year Founded | 2007 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 4 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 3 |
When comparing online brokers IC Markets and DooPrime in terms of commissions and fees, IC Markets clearly stands out as a top choice for cost-conscious traders. IC Markets' trading costs are highly competitive, thanks to minimal effective spreads and a low deposit requirement for its commission-based accounts. This has earned them a five-star rating and a Best in Class accolade in the Commissions & Fees category, ranking them 5th out of 63 brokers. In contrast, DooPrime, with a three-star rating, ranks significantly lower at 59th, partially due to the lack of available average spread data.
IC Markets provides several account options to cater to different trading needs. These include the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. Spreads at IC Markets vary by platform and entity, with options under its European, Australian, and Seychelles entities. Notably, the cTrader Raw Spread account offers a slightly lower commission compared to the MetaTrader (MT4 or MT5) Raw Spread accounts, with a charge of $3.00 per side for 100,000 units, making it a highly competitive choice.
The effectiveness of spreads at IC Markets is demonstrated in its pricing on the EUR/USD, with an average spread listed at 0.02 pips, which when combined with commission remains highly competitive at 0.62 pips for cTrader accounts. Traders benefit from these low costs, especially active traders who can access discounts when trading over 100 standard lots per month. Overall, IC Markets' cost structure provides a significant advantage over DooPrime, whose limited data prevents it from achieving similar rankings and ratings.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments between IC Markets and DooPrime, both platforms offer forex trading as CFDs or spot contracts, catering to forex traders. IC Markets provides access to 3,583 tradeable symbols, whereas DooPrime takes a significant lead with 10,000 tradeable symbols, giving investors more options to choose from. In terms of specific forex pairs, IC Markets offers 61 pairs compared to DooPrime's 60. This makes both brokers fairly comparable for forex enthusiasts, though DooPrime holds a slight edge with its broader range of overall symbol offerings.
In the realm of exchange-traded securities, DooPrime outshines IC Markets by allowing clients to buy shares on U.S. exchanges, such as Apple, while both platforms provide access to international exchanges like the London Stock Exchange. Additionally, both brokers offer copy trading, catering to investors who prefer to mirror trades of seasoned traders. As for cryptocurrency trading, IC Markets supports cryptocurrency derivatives, whereas DooPrime does not. With these offerings taken into account, DooPrime receives a higher rating of 5 stars for its range of investments, compared to IC Markets' 4.5 stars. This is reflected in their rankings by ForexBrokers.com, where DooPrime stands at #12, while IC Markets is ranked #25.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 10000 |
| Forex Pairs (Total) | 61 | 60 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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 evaluating the trading platforms offered by IC Markets and DooPrime, both brokers provide essential features for traders, such as simulated trading with free virtual demo accounts. While IC Markets does not develop its own proprietary platform, DooPrime offers a unique in-house option for its users. Both brokers support Windows-based desktop platforms and web-based trading, while offering popular tools like MetaTrader 4 and MetaTrader 5. Copy trading is available with both brokers; however, IC Markets sets itself apart by supporting ZuluTrade, which DooPrime does not. When it comes to trading directly from charts, both brokers provide this functionality, along with 15 drawing tools for detailed analysis.
Regarding additional features like watch lists, both IC Markets and DooPrime provide the same number of fields for customization, with seven columns available. Although both brokers are rated four stars out of five for their trading platforms and tools, IC Markets has a slight edge in rankings, placing 16th out of 63 brokers compared to DooPrime's 25th place according to ForexBrokers.com. This difference may reflect the distinct offering of ZuluTrade by IC Markets, contributing to its slightly higher standing among competitors.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IC Markets and DooPrime offer comprehensive mobile trading apps for iPhone and Android users, providing tools needed for on-the-go trading. Each platform supports advanced features such as stock and forex price alerts, the ability to draw trendlines, multiple time frames for chart viewing, and auto-saving of chart drawings. Additionally, traders can create and manage watchlists with real-time quotes, making it easier to keep track of favorite stocks and forex pairs. While both apps support 30 technical studies for chart analysis, neither supports synchronized watchlist symbols between mobile apps and online accounts, which may be a concern for some traders needing seamless integration across devices.
When assessing the overall user experience, both IC Markets and DooPrime receive a respectable rating of 4 stars for their mobile trading apps. According to ForexBrokers.com, IC Markets ranks slightly higher in the Mobile Trading Apps category, holding the 22nd position out of 63 brokers, compared to DooPrime's 25th place. Overall, both brokers offer strong options for mobile trading, with equivalent toolsets to meet the needs of traders, though users may find slight differences in performance or feel that contribute to their personal preferences.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
Both IC Markets and DooPrime are strong options for traders seeking comprehensive market research. They each provide daily market commentary and access to top-tier forex news from credible sources like Bloomberg and Reuters. Furthermore, both brokers offer tools from Trading Central, such as Technical Analytics, as well as economic calendars that highlight key global events. Despite these similarities, IC Markets stands out with additional features like Autochartist tools and sentiment-based trading resources, something DooPrime does not provide.
While both brokers have earned a four-star research rating, IC Markets slightly edges ahead in the ForexBrokers.com rankings, placing 23rd out of 63 brokers compared to DooPrime's 29th place. However, neither broker offers tools from Acuity Trading or market research from TipRanks. Ultimately, the choice between IC Markets and DooPrime may come down to the specific research tools and features that align with a trader's personal strategy and preferences.
| Feature |
IC Markets
|
DooPrime
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IC Markets and DooPrime both provide a strong selection of materials on forex and CFDs, with each offering at least 10 educational pieces such as articles, videos, and archived webinars. IC Markets stands out with its monthly online educational webinars for clients and a searchable archive of past sessions, which gives learners an opportunity to revisit important topics at their convenience. DooPrime, on the other hand, does not offer these webinars or an archive, which might limit the interactive learning experience for some novices. Both brokers offer a solid collection of videos suitable for beginners as well as advanced traders, ensuring a comprehensive learning journey through various stages of expertise.
While IC Markets offers an investor dictionary that covers over 50 investing terms, helping new traders become familiar with essential terminology, DooPrime lacks this feature. Evaluating their educational strength, both brokers receive a 4-star rating, though IC Markets is ranked higher, sitting at #16 out of 63 brokers according to ForexBrokers.com, compared to DooPrime's #25 ranking. This indicates that while both are commendable options for educational content, IC Markets perhaps edges ahead by offering more diverse and accessible learning opportunities for those eager to deepen their understanding of trading.
| Feature |
IC Markets
|
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 IC Markets is better than DooPrime. IC Markets finished with an overall rank of #20, while DooPrime finished with an overall rank of #28.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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DooPrime
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 83 |
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While both IC Markets and DooPrime do not provide the option to purchase actual delivered cryptocurrencies, IC Markets enables traders to buy cryptocurrency derivatives, unlike DooPrime, which does not offer this facility.
Both IC Markets and DooPrime do not support ACH or SEPA transfers for deposits and withdrawals, yet they offer multiple options including PayPal, Skrill, Visa or Mastercard, and bank wires.
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.
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0 of 5| Overall Rating | IC Markets | DooPrime | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | DooPrime | |
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| Regulation | IC Markets | DooPrime | |
|---|---|---|---|
| Trust Score | 84 | 83 | |
| Year Founded | 2007 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 4 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 3 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | DooPrime | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | 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 | IC Markets | DooPrime | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 10000 | |
| Forex Pairs (Total) | 61 | 60 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | IC Markets | DooPrime | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | DooPrime | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | DooPrime | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | DooPrime | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | DooPrime | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | DooPrime | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review |
| Overall | IC Markets | DooPrime | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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