Written by ForexBrokers.com
In this head to head comparison of DooPrime vs LegacyFX, 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.
Founded in 2014, DooPrime has established itself as a reliable choice among online brokers, holding four Tier-1 licenses, which indicates a high level of trustworthiness according to ForexBrokers.com. Despite not being publicly traded or a bank, DooPrime has managed to secure a Trust Score of 83, placing it in the trusted category of brokers. This score reflects its endeavor to provide a trustworthy trading environment for its clients.
LegacyFX, established in 2012, holds one Tier-1 license, signaling a level of trust but comparatively less than that of DooPrime. Like DooPrime, LegacyFX is not listed on a stock exchange and is not a banking institution. With a ForexBrokers.com Trust Score of 67, LegacyFX falls into the high-risk category, which suggests that potential clients might need to exercise additional caution when considering its services.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Year Founded | 2014 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commissions and fees of online brokers DooPrime and LegacyFX, both brokers have their unique structures, yet neither provides average spread data to clearly define trading costs. DooPrime has a star rating of 3 out of 5 in terms of commissions and fees, placing it at #59 out of 63 brokers according to ForexBrokers.com. Unfortunately, further detailed information on their spread or fee structure is not available.
LegacyFX offers a more diversified account range depending on your location. EU residents can choose from Silver, Gold, and Platinum accounts with minimum deposits of $500, $5,000, and $25,000, respectively. Trading costs decrease with higher-tier accounts, with the Silver account starting at 1.6 pips for EUR/USD. International clients through LegacyFX's Vanuatu entity have access to seven account types, ranging from Standard to VIP, with varying levels of client support and access to trading tools. LegacyFX receives a slightly better commission and fees rating of 3.5 stars, ranking it at #57 out of 63 brokers on ForexBrokers.com.
In summary, while LegacyFX offers more account options and slightly lower spread ranges for higher-tier accounts, both DooPrime and LegacyFX could benefit from greater transparency in providing average spread data to prospective clients. Neither broker stands out dramatically in the industry rankings for commissions and fees, indicating that both might not be the most cost-effective choices for traders focusing on minimizing trading expenses.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 it comes to the range of investment options, DooPrime and LegacyFX cater to diverse trading needs, yet they offer quite different experiences. DooPrime impressively stands out with access to 10,000 tradeable symbols, providing traders with a wide scope for investment strategies. In the forex market, DooPrime presents a choice of 60 forex pairs available as CFDs or spot contracts. Additionally, DooPrime extends its range by allowing direct purchase of exchange-traded securities, not just in the U.S. markets but also internationally. Copy trading is another feature both platforms share, allowing users to follow and mimic successful traders' strategies.
LegacyFX, while proficient, offers more limited options in comparison, with 425 tradeable symbols and 44 forex pairs. Although it does provide CFD forex trading, LegacyFX does not offer direct investments in U.S. or international exchange-traded securities. However, LegacyFX diversifies its portfolio by offering cryptocurrency derivatives, which DooPrime does not include. Reflecting these differences, DooPrime holds a commendable 5-star rating for its range of investments, placing at #12 in ForexBrokers.com's rankings, whereas LegacyFX receives a 3.5-star rating and stands at #48.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 425 |
| Forex Pairs (Total) | 60 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | Yes |
| 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.
DooPrime and LegacyFX both provide traders with simulated trading through free virtual demo accounts, allowing users to practice and enhance their skills without financial risk. While both offer Windows-based desktop and web-based platforms, DooPrime distinguishes itself with its proprietary platform. In contrast, LegacyFX does not provide a platform developed in-house. However, both brokers support MetaTrader 5, and DooPrime additionally offers MetaTrader 4, giving it a more expansive platform offering. Both brokers deliver copy trading features, but neither supports DupliTrade or ZuluTrade. For charting tools, users will find a satisfactory set of drawing tools from both brokers, although specific numbers for technical indicators are not provided.
When it comes to watch lists, both DooPrime and LegacyFX offer a similar configuration, providing seven columns for customization. Traders can conveniently execute trades directly from stock charts with each broker. Despite these similarities, DooPrime has the edge with a higher rating of four stars for its trading platforms and tools compared to LegacyFX’s 3.5 stars. Additionally, DooPrime is ranked significantly higher on ForexBrokers.com, securing the 25th spot out of 63 brokers, whereas LegacyFX is positioned at 60th in the same category. This ranking suggests that users might find DooPrime's overall trading experience more favorable in terms of platform variety and capabilities.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
When it comes to mobile trading apps, both DooPrime and LegacyFX have a lot to offer on the surface. Users of both platforms can access trading apps on iPhone and Android devices. They also provide essential features such as price alerts and the ability to draw trendlines on charts. Each app offers a suite of 30 technical studies for charting, and users can view multiple time frames such as daily, weekly, or intraday. Real-time quotes for watchlists are available, and the apps automatically save chart drawings. However, neither DooPrime nor LegacyFX supports watchlist symbol syncing between the mobile app and online accounts.
Despite similarities, DooPrime seems to have a slight edge. With a user rating of 4 stars compared to LegacyFX's 3.5 stars, DooPrime is considered more favorably overall. ForexBrokers.com ranks DooPrime at #25 out of 63 for mobile trading apps, whereas LegacyFX is ranked at a lower #61. These rankings suggest that while both apps cover the basics well, DooPrime might cater more effectively to the needs of mobile traders.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| 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.
Choosing between DooPrime and LegacyFX for market research involves several key considerations. Both brokers provide daily market commentary and deliver forex news from reputable sources such as Bloomberg and Reuters, ensuring traders have access to up-to-date information. While DooPrime integrates tools from Trading Central, LegacyFX stands out by offering resources from Autochartist, making it a choice for those who prefer specific technical analysis tools. However, neither broker presents a sentiment-based trading tool or market research insights from TipRanks and Acuity Trading, indicating a potential limitation for traders seeking these specific features.
Both DooPrime and LegacyFX provide an economic calendar to track global news events, essential for keeping pace with market movements. Overall, DooPrime scores slightly higher in research with a 4-star rating compared to LegacyFX's 3.5 stars. As per ForexBrokers.com rankings, DooPrime also holds a higher position at #29, suggesting a more favorable evaluation of its research capabilities than LegacyFX, which ranks #46. Traders seeking a more comprehensive suite of research tools might lean toward DooPrime, but those prioritizing Autochartist's features might favor LegacyFX.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| 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 it comes to educational resources for beginners, both DooPrime and LegacyFX provide a wealth of materials to help new traders get started in the world of forex and CFDs. Each broker offers more than ten educational pieces, such as articles and videos focused on these trading options. For users preferring video content, DooPrime and LegacyFX both meet the needs of beginners, with at least ten videos tailored specifically to newcomers in trading. However, for those interested in live learning sessions, only LegacyFX offers monthly webinars, enhancing the real-time educational experience. Additionally, LegacyFX provides access to an archived collection of past webinars, allowing clients to catch up on topics they may have missed.
While both DooPrime and LegacyFX offer numerous advanced educational videos, DooPrime lacks some of the extra features that LegacyFX provides. LegacyFX includes an investor dictionary containing over 50 investing term definitions, which can be a valuable tool for building foundational knowledge. Despite these differences, DooPrime slightly edges out LegacyFX with a 4-star education rating compared to LegacyFX's 3.5 stars. According to ForexBrokers.com, DooPrime is ranked #25 for education out of 63 brokers, ahead of LegacyFX, which stands at #35. This ranking might reflect the overall satisfaction with the broader range of educational options DooPrime offers, despite its fewer interactive learning opportunities.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that DooPrime is better than LegacyFX. DooPrime finished with an overall rank of #28, while LegacyFX finished with an overall rank of #63.
DooPrime is mainly regulated in the UK, as well as two offshore locations (Vanuatu and Mauritius), and offers 10,000 investment products, and multiple platforms including the full MetaTrader suite, and social copy trading platforms. That said, DooPrime trails behind the best brokers in key categories.
| Feature |
DooPrime
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 67 |
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While both DooPrime and LegacyFX do not offer the ability to purchase actual delivered cryptocurrencies, LegacyFX provides an option to buy cryptocurrency derivatives, unlike DooPrime which does not.
Both DooPrime and LegacyFX offer Skrill, Visa, Mastercard, and bank wire options for depositing or withdrawing funds, but only DooPrime supports PayPal, while neither provides 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.
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0 of 5| Overall Rating | DooPrime | LegacyFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | DooPrime | LegacyFX | |
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| Regulation | DooPrime | LegacyFX | |
|---|---|---|---|
| Trust Score | 83 | 67 | |
| Year Founded | 2014 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | DooPrime | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | DooPrime | LegacyFX | |
|---|---|---|---|
| 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 | DooPrime | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 425 | |
| Forex Pairs (Total) | 60 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | Yes | |
| 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 | DooPrime | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | DooPrime | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | DooPrime | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | DooPrime | LegacyFX | |
|---|---|---|---|
| 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 | DooPrime | LegacyFX | |
|---|---|---|---|
| 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 | DooPrime | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | DooPrime | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | DooPrime | LegacyFX | |
|---|---|---|---|
| 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 | LegacyFX Review |
| Overall | DooPrime | LegacyFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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