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 the online brokers IC Markets and DooPrime, IC Markets stands out as a top performer in terms of commissions and fees. Rated with 5 stars, IC Markets offers highly competitive trading costs, earning it the #5 rank among 62 brokers in the Commissions and Fees category according to ForexBrokers.com. IC Markets provides three account types, including a commission-free Standard account and two commission-based Raw Spread accounts. For those trading on cTrader, the commission is $3.0 per side for every 100,000 units, while MetaTrader users pay $3.5 per side. This results in effective spreads as low as 0.62 pips on cTrader, placing IC Markets alongside leading low-cost forex brokers.
On the other hand, DooPrime receives a 3-star rating for commissions and fees, ranking much lower at #58 out of 62 brokers. Accurate spread data is unavailable, which can make it difficult for potential traders to fully assess the cost-effectiveness of this broker. Despite this, DooPrime is an alternative for traders seeking different features that may suit their trading needs more than cost efficiency.
Overall, while both IC Markets and DooPrime offer options for forex trading, IC Markets appeals more to traders prioritizing low-cost trading conditions. With its competitive spreads, account diversity, and top-tier ranking, IC Markets provides traders with a cost-efficient and flexible trading experience compared to DooPrime.
| 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 available with IC Markets and DooPrime, significant differences emerge. IC Markets provides access to a substantial 3583 tradeable symbols, along with 61 forex pairs, emphasizing its strength in forex trading available as CFDs or spot contracts. However, it falls short of offering exchange-traded securities on US exchanges and lacks the ability to buy actual cryptocurrencies, limiting its scope to cryptocurrency derivatives. Despite these limitations, IC Markets offers compelling options for international securities and copy trading, earning a solid 4.5-star rating for its range of investments.
In contrast, DooPrime impresses with an extensive offering of 10,000 tradeable symbols, slightly fewer forex pairs at 60, and the same option for forex trading as CFDs or spot contracts. Notably, DooPrime allows investors to purchase exchange-traded securities on both US and international exchanges, including giants like Apple. While it does not offer actual or derivative cryptocurrency trading, the platform's expansive investment options, including copy trading, position it favorably with a 5-star rating. In the ForexBrokers.com rankings for investment range, DooPrime's broad capabilities place it at an impressive #12 out of 62 brokers, while IC Markets holds the #25 spot.
| 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.
Both IC Markets and DooPrime shine as online brokers offering a suite of trading platforms and tools tailored for various trader needs. They each provide free virtual demo accounts for simulated trading, ensuring that traders can practice strategies without financial risk. While IC Markets does not feature a self-developed platform, DooPrime provides a proprietary platform, giving it a unique touch. Both brokers support Windows-based desktop downloads and web-based trading platforms, ensuring flexibility and accessibility for traders. Additionally, they offer popular platforms like MetaTrader 4 and MetaTrader 5, while IC Markets stands out with ZuluTrade options for those interested in copy trading.
Charting capabilities are a significant consideration for traders, and both IC Markets and DooPrime offer 15 drawing tools and the convenience of trading directly from stock charts. Their watch lists are similarly robust, each offering 7 fields for better trading oversight. With these tools, both brokers have demonstrated their commitment to catering to the diverse needs of traders, earning a 4-star rating for trading platforms and tools. However, when ranked against 62 brokers, IC Markets claims a competitive edge at #16, compared to DooPrime's #25, highlighting its slightly stronger reputation among the trading community.
| 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.
IC Markets and DooPrime both offer convenient mobile trading apps for iPhone and Android users, making it easy to trade on the go. Both platforms allow users to set up stock or forex price alerts and provide the tools needed for effective chart analysis with 30 technical studies available. The apps support drawing trendlines on charts and viewing multiple time frames, whether daily, weekly, or intraday, with the added benefit of auto-saving your drawings. Moreover, both IC Markets and DooPrime allow creating watchlists with real-time quotes, although neither offers watchlist symbol syncing between the mobile app and online account.
When it comes to user ratings, both IC Markets and DooPrime receive a commendable 4 out of 5 stars for their mobile trading apps. They are closely ranked by ForexBrokers.com with IC Markets coming in at #22 and DooPrime at #25 out of 62 brokers. Whether you're monitoring stock alerts or engaging in in-depth chart analysis, both platforms ensure a seamless trading experience that caters to the needs of modern traders. While offering similar features, IC Markets has a slight edge in rankings, making it a slightly more favorable option for users seeking a well-rounded mobile trading app experience.
| 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.
When comparing IC Markets and DooPrime for market research offerings, both brokers shine in providing daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. They each provide access to extensive economic calendars, keeping traders informed of global events. However, IC Markets distinguishes itself with additional tools, including technical and fundamental analysis from Autochartist and a sentiment-based trading tool that shows the ratio of long and short positions across currency pairs. In contrast, DooPrime provides technical analysis via Trading Central, but does not offer the Autochartist tools or sentiment-based trading resources.
Both IC Markets and DooPrime share a 4-star research rating, yet they differ slightly in their rankings by ForexBrokers.com, with IC Markets at #23 and DooPrime at #29 out of 62 brokers. Neither broker offers market research from TipRanks or Acuity Trading tools like Signal Centre. The choice between these platforms may ultimately come down to the extra analytical tools offered by IC Markets, which might give traders seeking comprehensive insights an edge in their trading strategies.
| 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 comparing the educational resources for beginners at IC Markets and DooPrime, both online brokers provide a solid foundation for forex and CFDs learning with a minimum of ten educational pieces, including articles and videos. IC Markets stands out with its commitment to offering monthly online webinars, giving clients a dynamic way to engage with the content and ask questions in real-time. They also provide a searchable archive of past webinars, offering a rich resource for those who wish to learn at their own pace. Additionally, both platforms deliver at least ten beginner and advanced trading videos, catering to users at various stages of their trading journey.
Although both platforms are rated four stars for education, IC Markets takes a further step by offering an investor dictionary with definitions of over 50 terms, which is absent from DooPrime's offerings. This makes it a handy resource for beginners who are becoming familiar with trading jargon. IC Markets ranks slightly higher in the education category, holding the 16th spot compared to DooPrime's rank of 25 out of 62 brokers according to ForexBrokers.com. For a complete educational experience, IC Markets provides additional tools that can greatly benefit those starting in the trading world.
| 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 62 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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