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 emerges as a strong contender for traders seeking competitive commissions and fees. Schwab does not require a minimum deposit for its primary brokerage accounts, lowering the entry barrier for forex trading. The broker offers 18 different financial account types but highlights the Schwab One and Schwab Global accounts for accessing the thinkorswim platform for forex trading. Notably, Schwab does not charge commissions for forex trades; instead, costs stem from the bid/ask spread, with the EUR/USD spread averaging 1.35 pips—a bit higher than the industry average. Schwab also provides a calculator on the thinkorswim platform to estimate overnight carry charges. Schwab receives a commendable four-star rating for commissions and fees and ranks 23rd out of 62 brokers according to ForexBrokers.com.
DooPrime's approach to commissions and fees, in contrast, lacks detailed average spread data, making direct comparisons a bit challenging. However, they receive a three-star rating for commissions and fees. In the overall ranking by ForexBrokers.com, DooPrime falls significantly lower, securing the 58th position out of 62 brokers. This suggests that while DooPrime might offer certain advantages, it does not match the competitive pricing or comprehensive reporting found with Charles Schwab.
Overall, traders interested in forex trading might find Charles Schwab's fee transparency and trading flexibility more appealing, particularly given their higher ranking and ratings. Those considering DooPrime might need to weigh potential advantages outside of the commissions and fees category when making their decision.
| 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 range of investments offered by Charles Schwab and DooPrime, both platforms present appealing options for diverse investors. Charles Schwab provides access to an impressive 40,000 tradeable symbols, significantly more than DooPrime's 10,000. In terms of forex trading, Schwab offers 73 currency pairs, outmatching DooPrime's 60 pairs. Both brokers allow trading in forex as either CFDs or spot contracts, and offer opportunities to invest in exchange-traded securities, letting clients purchase shares in major U.S. companies like Apple, as well as international firms such as Vodafone. Notable differences include Schwab's lack of a copy trading feature, which DooPrime provides, as well as Schwab’s offering of cryptocurrency derivatives, a feature not available with DooPrime.
While neither broker offers the ability to purchase actual cryptocurrencies, Charles Schwab still garners top marks with a five-star rating for its range of investments, ranking fifth out of 62 brokers according to ForexBrokers.com. DooPrime also receives a five-star rating but ranks lower at 12th place. The broader variety of investments and higher rating suggest Charles Schwab might better serve investors seeking access to a more extensive suite of options, while DooPrime may appeal to those interested in copy trading and a more straightforward portfolio of assets.
| 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.
Charles Schwab and DooPrime both offer extensive trading platforms with unique features. Charles Schwab stands out with its highly-rated proprietary platform, accessible on both desktop and web browsers. It provides 580 fields for watch lists, supports trading directly from stock charts, and offers 24 drawing tools for charting. Schwab’s platform comes with a virtual demo account, allowing users to practice strategies risk-free. Despite not offering MetaTrader options or copy trading, Schwab’s platform receives high praise, earning five stars and a top-five ranking from ForexBrokers.com.
Similarly, DooPrime offers diverse trading tools with a proprietary platform available for Windows and web use. DooPrime excels by supporting copy trading and providing access to MetaTrader 4 and 5, catering to traders who seek these popular platforms. It also offers a virtual demo account for practice. Although its charting options include fewer drawing tools, with 15 available, and only 7 fields for watch lists, DooPrime’s platform is user-friendly and effective. With a four-star rating and a 25th-place ranking from ForexBrokers.com, it is a solid choice for traders looking for flexible platform options.
| 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.
Charles Schwab and DooPrime both offer fully functional mobile trading apps for iPhone and Android devices, providing essential tools for traders on the go. While both apps allow users to receive stock or forex price alerts, Charles Schwab's app stands out by offering synchronized watchlist capabilities. This means any changes made to watchlists are automatically updated between the mobile app and online account, a feature not available with DooPrime. Charles Schwab also excels in technical charting options, providing users with 374 technical studies compared to DooPrime's 30, enhancing the ability to perform in-depth analysis directly from your mobile device.
When it comes to charting tools, both mobile apps allow drawing trendlines and viewing multiple time frames, with auto-saving of chart drawings for seamless user experience. Both apps also provide the ability to create watchlists with real-time quotes, an essential feature for active traders. According to ForexBrokers.com, Charles Schwab's mobile app garners a higher user satisfaction with a 5-star rating, ranking it #6 out of 62 brokers, whereas DooPrime maintains a solid 4-star rating and is ranked #24 in the same category. These rankings highlight Charles Schwab's mobile trading app as a more highly-rated choice among users seeking comprehensive features and seamless integration.
| 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 evaluating the market research capabilities of Charles Schwab and DooPrime, both platforms offer daily market commentary and provide forex news sourced from leading agencies like Bloomberg and Reuters. Charles Schwab and DooPrime also feature economic calendars that keep traders informed about crucial global events. However, when it comes to research tools, these brokers diverge. DooPrime stands out by offering technical analysis tools from Trading Central, whereas Charles Schwab does not. Both brokers lack tools from Autochartist and Acuity Trading, and neither provides market research from TipRanks or sentiment-based trading tools for position ratios across currency pairs.
In terms of industry recognition, Charles Schwab holds a distinct edge with a five-star research rating and a commendable fourth-place ranking among 62 brokers on ForexBrokers.com. In comparison, DooPrime is rated slightly lower with four stars and is ranked 29th in the same category. This discrepancy highlights Charles Schwab's superior standing in the research domain, despite both platforms offering some similar market commentary and news features.
| 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 available to beginners, Charles Schwab stands out in a few key areas against DooPrime. Both platforms provide over ten educational pieces focused on forex and CFDs, including articles and videos. However, Charles Schwab offers a continuous monthly schedule of online educational webinars and an easily accessible archive of previously recorded sessions, which DooPrime does not provide. This makes it easier for new traders to engage and learn at their own pace, with consistently updated content available at their fingertips.
Moreover, both Charles Schwab and DooPrime provide a substantial selection of over ten beginner trading videos, as well as advanced videos for more experienced traders. Yet, only Charles Schwab offers an extensive investor dictionary with a comprehensive list of investing terms—a feature absent from DooPrime’s offerings. With a top-tier rating of 5 stars for education and a ranking of #6 out of 62 brokers, Charles Schwab's educational resources are highly acclaimed. Although DooPrime delivers solid learning materials with a 4-star rating, its overall educational ranking is #24, indicating that Charles Schwab may be the better choice for those prioritizing educational support.
| 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 62 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
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DooPrime
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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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.
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0 of 5| Overall Rating | Charles Schwab | DooPrime | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | DooPrime | |
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| 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 | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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