Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, stands out with a top-tier Trust Score of 99, making it one of the most reliable online brokers according to ForexBrokers.com. It is publicly traded, fully transparent, and holds an impressive nine Tier-1 licenses, signifying its standing as a highly trusted entity in the financial world. Moreover, Interactive Brokers is equipped with two Tier-2 licenses, further supporting its reputation as a trusted platform for investors worldwide.
In contrast, DooPrime, founded in 2014, offers a respectable alternative with a Trust Score of 83, indicating a trusted status. While not publicly traded, DooPrime maintains its credibility with four Tier-1 licenses, setting a solid foundation for investors. However, it does not hold any Tier-2 licenses, marking a difference in regulatory reach compared to Interactive Brokers. Neither broker functions as a bank, but both provide robust platforms for online trading.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Year Founded | 1977 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 4 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Interactive Brokers and DooPrime both cater to forex traders, but they differ significantly in their commissions and fees. Interactive Brokers stands out with a 5-star rating for its competitive pricing, especially for active traders. Although average spread data for Q3 2024 was found to be 0.19 pips for EUR/USD, the effective all-in spread is 0.59 pips. Commissions per side start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. For high-volume traders, fees can reduce even further, offering an attractive pricing model. As a result, Interactive Brokers ranks #2 out of 63 brokers in the Commissions and Fees category.
In contrast, DooPrime’s commission and fee structure is less transparent, lacking available average spread data. Rated 3 stars for commissions and fees, it doesn't offer the same level of cost-effectiveness for forex traders. DooPrime's less favorable ranking of #59 indicates that it may not be the best choice for those looking for cost-efficient trading solutions.
For traders considering their options, Interactive Brokers provides a clear advantage with its competitive pricing and high ranking, while DooPrime trails with less transparency and a lower star rating. These factors make Interactive Brokers a preferred choice for those prioritizing commission and fee efficiency in their trading strategy.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | 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 it comes to the range of available investments, both Interactive Brokers and DooPrime offer extensive opportunities for traders. Interactive Brokers provides access to a broad spectrum of tradeable symbols, with 8,500 options available, including 90 forex pairs. It supports both CFD and spot forex trading, and clients can purchase exchange-traded securities on U.S. and international exchanges. Notably, Interactive Brokers also allows investors to buy actual (delivered) cryptocurrencies and cryptocurrency derivatives. In contrast, DooPrime steps up with 10,000 tradeable symbols but offers just 60 forex pairs. It similarly supports forex trading via CFDs and spot contracts and allows the purchase of exchange-traded securities from both U.S. and international exchanges. However, DooPrime does not support direct cryptocurrency purchases, nor cryptocurrency derivatives, though it does offer the feature of copy trading, which Interactive Brokers does not.
Both platforms have been rated five stars for their range of investments, highlighting their extensive offerings. Yet, Interactive Brokers stands out in rankings by ForexBrokers.com, securing the top position among 63 brokers in the Range of Investments category, whereas DooPrime is ranked 12th. This distinction indicates that while both brokers offer substantial investment options, Interactive Brokers may provide a slightly broader array of choices, particularly in cryptocurrency trading.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 10000 |
| Forex Pairs (Total) | 90 | 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) | Yes | 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.
Interactive Brokers and DooPrime both offer traders the option to explore simulated trading through free virtual demo accounts, providing an entry-level experience without financial risk. Both brokers have developed their own in-house platforms and cater to users who prefer a Windows-based desktop experience or a web-based trading environment. While Interactive Brokers doesn't support MetaTrader 4 or MetaTrader 5, DooPrime accommodates both, making it a suitable choice for those who favor these popular trading platforms. Additionally, DooPrime offers copy trading, setting itself apart in this aspect, though neither supports DupliTrade or ZuluTrade.
When it comes to charting capabilities, Interactive Brokers outshines with 85 drawing tools compared to DooPrime's 15, providing more extensive options for technical analysis. Both brokers allow trading directly from stock charts, adding convenience for active traders. When managing watch lists, Interactive Brokers offers significantly more columns, with 659 available fields versus DooPrime's 7, allowing for more detailed customization. As a result, Interactive Brokers earns a higher rating for trading platforms and tools with 5 stars, ranked #3 out of 63 brokers, while DooPrime holds 4 stars and is ranked #25.
| Feature |
Interactive Brokers
|
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) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Interactive Brokers and DooPrime offer apps for iPhone and Android users, keeping accessibility high for traders on the go. Both apps allow users to set stock and forex price alerts, ensuring you never miss a significant market move. Interactive Brokers stands out with its extensive range of 97 technical studies available for charting, compared to 30 offered by DooPrime. While both platforms allow drawing trendlines and viewing multiple time frames on charts, only DooPrime's app automatically saves your drawings, adding extra convenience for users focusing on chart analysis.
Interactive Brokers provides a seamless experience by syncing watchlist symbols between the mobile app and the online account, a feature that DooPrime lacks. Nevertheless, both platforms enable creating watchlists with real-time quotes, crucial for active traders. Overall, Interactive Brokers has a higher user satisfaction with a 5-star rating for its mobile trading app, compared to DooPrime's 4 stars. This higher satisfaction is reflected in Interactive Brokers' ranking as the 4th best among 63 brokers in the Mobile Trading Apps category by ForexBrokers.com, while DooPrime ranks at 25th.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and DooPrime both offer strong market research tools, but there are distinct differences worth noting for those considering either platform. Both brokers provide daily market commentary and access to top-tier forex news from renowned sources like Bloomberg and Reuters. While neither broker offers analysis tools from Autochartist, both platforms provide technical analytics via Trading Central. However, Interactive Brokers goes further by providing a sentiment-based trading tool, showing trader positioning across different asset classes, a feature that's missing from DooPrime's offerings.
The difference in research capabilities between the two brokers is further highlighted by Interactive Brokers' inclusion of market insights from TipRanks and Acuity Trading tools like Signal Centre, adding depth to their research suite. DooPrime does not offer these specialized insights. Both brokers include an economic calendar to keep users updated on global news events, but overall ratings reflect the difference in research offerings. Interactive Brokers is rated at 5 stars for research compared to DooPrime's 4 stars, with Interactive Brokers ranked #3 compared to DooPrime's #29 out of 63 brokers in the research category by ForexBrokers.com.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational offerings for beginners, Interactive Brokers distinguishes itself with a comprehensive suite aimed at enhancing traders' skills. They provide more than ten educational resources dedicated to Forex and CFDs, supplemented by monthly online webinars. These sessions are archived and easily accessible for later viewing, ensuring that users can learn at their own pace. Furthermore, Interactive Brokers supports newcomers with beginner-friendly tutorials and a valuable investor dictionary containing over 50 essential investing terms, all of which contribute to their top-tier educational offerings acknowledged by a 5-star rating and a number 3 rank out of 63 brokers.
DooPrime also caters to beginner traders by offering over ten educational resources focused on Forex and CFDs, plus a series of videos aimed at both novice and advanced traders. However, the absence of monthly webinars and a searchable archive of past sessions slightly limits the depth of their educational approach. While DooPrime does not include an extensive investor dictionary, their educational provisions have still earned them a respectable 4-star rating and a rank of 25 in the education category. Though they cover the basics effectively, those looking for a more comprehensive learning experience might find Interactive Brokers to be the more suitable choice.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than DooPrime. Interactive Brokers finished with an overall rank of #2, while DooPrime finished with an overall rank of #28.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
DooPrime
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Interactive Brokers provides options for buying both actual delivered cryptocurrency and cryptocurrency derivatives, whereas DooPrime does not offer the ability to purchase either actual cryptocurrencies or cryptocurrency derivatives.
Interactive Brokers supports ACH/SEPA transfers and bank wires, while DooPrime offers more diverse payment options including PayPal, Skrill, Visa/Mastercard, and also supports bank wire transfers for depositing or withdrawing funds.
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 | Interactive Brokers | DooPrime | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
| Broker Screenshots | Interactive Brokers | DooPrime | |
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| Regulation | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1977 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 4 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | 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). | Yes | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 10000 | |
| Forex Pairs (Total) | 90 | 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) | Yes | 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 | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | DooPrime | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review |
| Overall | Interactive Brokers | DooPrime | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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