Written by ForexBrokers.com
In this head to head comparison of FP 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.
FP Markets and DooPrime, both established online brokers, offer a range of investment services, yet differ in their regulatory credentials. FP Markets, founded in 2005, boasts a ForexBrokers.com Trust Score of 89, making it a trusted choice for investors. This broker secures 2 Tier-1 licenses and 1 Tier-2 license, indicating a high regard for safety and compliance. Although FP Markets is not publicly traded and does not function as a bank, its regulatory certifications provide a layer of reassurance for clients.
On the other hand, DooPrime entered the scene in 2014 and holds a Trust Score of 83, also marking it as a trusted entity but with a slightly higher risk compared to FP Markets. With 4 Tier-1 licenses under its belt, DooPrime demonstrates a solid foundation in reliable regulatory standards, although it lacks Tier-2 licenses. Like FP Markets, DooPrime is neither publicly traded nor a banking institution. Both brokers' commitment to regulatory compliance offers peace of mind, albeit with distinctions in their licensing credentials and trust ratings.
| Feature |
FP Markets
|
DooPrime
|
|---|---|---|
| Year Founded | 2005 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 4 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing FP Markets and DooPrime in terms of commissions and fees, FP Markets stands out with highly competitive pricing, particularly through its ECN account offering on MetaTrader and cTrader platforms. With a stellar 5-star rating for commissions and fees, FP Markets has been recognized as Best in Class in this category for 2024, ranking #6 out of 62 brokers on ForexBrokers.com. The broker provides Direct Market Access (DMA) on its share CFD offering via the Iress platform, which includes full market depth. While FP Markets’ Raw ECN account offers competitive spreads averaging 0.1 pips, its Standard account is more expensive due to higher spreads. Additionally, FP Markets offers a cTrader platform that can be paired with either a spread-only standard account or a commission-based Raw account, charging a flat rate of $6 per round-trip standard lot.
FP Markets offers various account options through its Iress platform in Australia, catering to different levels of trader activity and account balances. The Iress ViewPoint account, suitable for active traders with higher balances, features premium services but at a higher cost. Alternatively, the Iress Investor account presents a more basic, low-cost alternative with some feature limitations. On the other hand, DooPrime’s lack of available average spread data and a 3-star rating for commissions and fees reflects its less competitive standing in this domain, ranking #58 out of 62 brokers according to ForexBrokers.com.
In summary, FP Markets differentiates itself with a strong lineup of account options and competitive fees, making it a favored choice for traders looking for cost-effective solutions, while DooPrime trails behind, offering fewer incentives when it comes to commissions and fees. For those prioritizing competitive costs in their trading journey, FP Markets remains a clear leader compared to DooPrime.
| Feature |
FP Markets
|
DooPrime
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | 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.
FP Markets and DooPrime both excel in offering a vast selection of trading opportunities to their clients, with each providing access to 10,000 tradeable symbols. For forex trading enthusiasts, FP Markets stands out more by offering 71 tradable forex pairs compared to DooPrime's 60 pairs. Both brokers support forex trading as CFDs or spot contracts and provide copy trading options, making them appealing choices for traders keen on diverse strategies.
DooPrime distinguishes itself by allowing clients to invest in exchange-traded securities on both U.S. and international markets, offering direct access to stocks such as Apple and Vodafone. In contrast, FP Markets does not provide this feature but does offer cryptocurrency derivatives, unlike DooPrime. Both brokers do not facilitate the purchase of actual cryptocurrencies. DooPrime earns a higher rating of five stars for its range of investments compared to FP Markets' 4.5 stars, ranking #12 and #18 respectively on ForexBrokers.com out of 62 brokers. This positions DooPrime as a slightly more versatile option for investors seeking a diverse portfolio.
| Feature |
FP Markets
|
DooPrime
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 10000 |
| Forex Pairs (Total) | 71 | 60 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | 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 comparing FP Markets and DooPrime for their trading platforms and tools, both brokers cater to various trader needs. They each offer the essential features of simulated (paper) trading through free virtual demo accounts, and a variety of trading platforms that include proprietary options developed in-house. Investors have access to Windows-based desktop platforms, browser-based solutions, and the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). While neither broker supports DupliTrade or ZuluTrade, they both provide copy trading, appealing to those who are interested in mirroring the trades of seasoned investors.
Charting tools and functionalities are similar between FP Markets and DooPrime, with FP Markets offering 17 drawing tools compared to DooPrime's 15. Both brokers allow direct trading from stock charts and provide watch lists with seven customizable columns. Rated four out of five stars for their trading platforms and tools, FP Markets ranks slightly higher at #23 compared to DooPrime's #25 in ForexBrokers.com's evaluation of 62 brokers. This suggests that while both brokers offer comprehensive trading solutions, FP Markets might have a minor edge in platform rankings.
| Feature |
FP Markets
|
DooPrime
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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 | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing FP Markets and DooPrime for their mobile trading apps, both brokers offer apps for iPhone and Android users. They provide stock or forex price alerts and allow the drawing of trendlines on charts, offering a seamless charting experience with the capability to view multiple time frames and auto-save drawings. Creating watchlists with real-time quotes is also a feature available on both platforms. However, neither broker offers watchlist symbol syncing, meaning that changes made on mobile devices won't automatically sync with the online account.
In terms of charting capabilities, FP Markets utilizes the MetaTrader default studies, while DooPrime offers 30 technical studies to analyze trading trends. Both brokers are similarly rated with four out of five stars for their mobile trading apps. Despite this equal rating, FP Markets is ranked slightly higher at #18 compared to DooPrime's #24 position by ForexBrokers.com, reflecting a marginal preference by the reviewing platform.
| Feature |
FP 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 | MetaTrader (Default) | 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 comparing FP Markets to DooPrime in terms of market research, both entities provide daily market commentary and access to top-tier forex news from prestigious sources like Bloomberg and Reuters. However, FP Markets takes a lead with its inclusion of technical analysis tools from Autochartist, which DooPrime does not offer. Both brokers provide advanced analysis tools from Trading Central, ensuring that traders have access to comprehensive market data.
FP Markets further distinguishes itself with its sentiment-based trading tool, allowing traders to gauge market sentiment through metrics that display the ratio of long and short positions. DooPrime currently lacks this feature. Despite these differences, both FP Markets and DooPrime offer economic calendars to keep traders informed on global news events. Each broker holds a respectable four-star rating for research, but FP Markets slightly edges out DooPrime in the rankings by ForexBrokers.com, coming in at #25 compared to DooPrime's #29 out of 62 brokers assessed.
| Feature |
FP 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.
FP Markets and DooPrime both provide a range of educational materials for traders eager to learn about forex and CFD trading. They each offer more than 10 educational pieces such as articles, videos, and archived webinars that cater to both beginner and advanced traders. However, FP Markets stands out by offering monthly online client webinars and maintaining a searchable archive of past webinars, features not available with DooPrime. Additionally, FP Markets includes an investor dictionary with over 50 terms, enriching the learning experience for beginners.
In terms of video content, both FP Markets and DooPrime offer at least 10 beginner and advanced educational videos, making them strong contenders for anyone looking to develop their trading skills. Despite having similar offerings, FP Markets and DooPrime are both rated 4 out of 5 stars for education. Nonetheless, according to ForexBrokers.com rankings, FP Markets edges slightly ahead, securing the 23rd position among 62 brokers, while DooPrime follows closely at 24th place.
| Feature |
FP 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 62 of the best forex brokers, our research and account testing finds that FP Markets is better than DooPrime. FP Markets finished with an overall rank of #19, while DooPrime finished with an overall rank of #28.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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DooPrime
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 83 |
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While FP Markets allows investors to trade cryptocurrency derivatives, actual cryptocurrencies are not available for purchase on its platform, whereas DooPrime does not offer the option to buy either actual cryptocurrencies or their derivatives.
Both FP Markets and DooPrime provide similar options for depositing and withdrawing account funds, including PayPal, Skrill, Visa or Mastercard, and bank wires, but neither offers 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 | FP Markets | DooPrime | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | DooPrime | |
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| Regulation | FP Markets | DooPrime | |
|---|---|---|---|
| Trust Score | 89 | 83 | |
| Year Founded | 2005 | 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 | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | FP 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) | FP Markets | DooPrime | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | DooPrime | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 10000 | |
| Forex Pairs (Total) | 71 | 60 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | 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 | FP Markets | DooPrime | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | DooPrime | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | FP Markets | DooPrime | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | No | No |
| Trading Tools | FP 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) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP 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 | MetaTrader (Default) | 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 | FP 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 | FP 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 | FP 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 | FP Markets Review |
| Overall | FP Markets | DooPrime | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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