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 is renowned for its competitive pricing in the forex market, garnering a 5-star rating and securing the #2 rank among 62 brokers in the Commissions and Fees category by ForexBrokers.com. While they don't publish average spreads for forex, third-quarter 2024 data reveals an average spread of 0.19 pips for EUR/USD, culminating in an all-in spread of 0.59 pips when including commissions. Their commission structure begins at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order, and can drop to 0.08 basis points for highly active traders.
Interactive Brokers charges commissions ranging from $16 to $40 per million round turn, positioning themselves alongside brokers offering commission-based forex trading. They aggregate prices from top interbank forex dealers, deploying a transparent commission model instead of marking up spreads. For frequent traders, interactive discounts apply, dropping fees significantly once specific trading volume thresholds are met. For instance, if volumes exceed $1 billion monthly, the minimum charge decreases to $1.5 per order, with potential reductions to $1 per order at $5 billion per month.
In contrast, DooPrime, absent average spread data, receives a more modest 3-star rating and is ranked #58 in the Commissions and Fees category by ForexBrokers.com. While direct comparisons with Interactive Brokers are challenging due to these missing data points, the stark difference in ratings and rankings underscores Interactive Brokers as a more favorable choice for traders focused on minimizing forex trading costs.
| 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.
Interactive Brokers and DooPrime both offer a comprehensive range of investment options for traders globally. Both platforms allow users to trade forex either as a CFD or spot contract, providing flexibility for different trading strategies. With 8,500 tradeable symbols, Interactive Brokers offers a wide selection, although DooPrime exceeds this with 10,000 symbols available. However, Interactive Brokers stands out with 90 tradeable forex pairs compared to DooPrime's 60 pairs. Both brokers enable trading of exchange-traded securities on U.S. and international exchanges, allowing clients to invest in companies like Apple and Vodafone directly. A significant distinction lies in cryptocurrency trading; Interactive Brokers supports both delivered cryptocurrencies and derivatives, whereas DooPrime does not offer these options.
While both brokers are highly rated—each receiving 5 stars for their range of investments—Interactive Brokers occupies the top rank in this category according to ForexBrokers.com, out of 62 brokers. DooPrime, though offering a solid portfolio, ranks at number 12 by the same source. This ranking reflects Interactive Brokers' superior offerings and flexibility, especially in the areas of forex pairs and cryptocurrency options. While DooPrime offers the added advantage of copy trading, allowing new investors to mirror more experienced traders' strategies, Interactive Brokers provides a broader range of actual asset ownership opportunities, which might appeal to more seasoned investors seeking to diversify.
| 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 provide comprehensive trading platforms and tools suitable for traders of various experience levels. Each broker offers a proprietary platform, downloadable desktop software for Windows, and a web-based trading platform. They also allow simulated trading with free virtual demo accounts, making it easy for beginners to practice without financial risk. However, a notable distinction lies in DooPrime's provision of MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside the popular copy trading feature absent from Interactive Brokers. Interactive Brokers, in contrast, stands out with an impressive array of drawing tools, totaling 85, compared to DooPrime's 15.
In terms of user experience enhancements, Interactive Brokers allows traders to work with a highly detailed watch list featuring 659 fields, which significantly surpasses DooPrime's offering of 7 fields. Both brokers allow trading directly from stock charts, easing the transition from analysis to execution. Ratings reflect these differences, with Interactive Brokers receiving a stellar 5-star rating for its trading platforms and tools, ranked 3rd among 62 brokers by ForexBrokers.com. Meanwhile, DooPrime earned 4 stars and is positioned at the 25th spot in the same category. Overall, while both brokers provide essential trading services, Interactive Brokers generally leads in advanced functionalities, especially for traders seeking detailed analytical tools.
| 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.
Interactive Brokers and DooPrime both provide feature-rich mobile trading apps available on iPhone and Android devices. Each platform offers essential tools like stock and forex price alerts, the ability to draw trendlines, and options to view multiple time frames on charts. However, Interactive Brokers stands out with its advanced charting capabilities, boasting 97 technical studies—more than triple what DooPrime offers. While both apps support real-time quote watchlists, Interactive Brokers enables seamless syncing with a user’s online account, something DooPrime lacks.
For traders who prioritize customizability and in-depth analysis, Interactive Brokers may be the better choice, despite its lack of auto-saving for chart drawings—a feature that DooPrime supports. In terms of user satisfaction, Interactive Brokers earns a commendable 5-star rating, ranking 4th out of 62 brokers for mobile trading apps. In contrast, DooPrime receives a 4-star rating and ranks 25th. This makes Interactive Brokers a top contender for those seeking a reliable and comprehensive mobile trading experience.
| 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.
Both Interactive Brokers and DooPrime provide daily market commentary and access to top-tier forex news sources like Bloomberg, Reuters, and Dow Jones. When it comes to technical analysis tools, both brokers offer resources from Trading Central, though neither integrates tools from Autochartist. Interactive Brokers stands out by offering a sentiment-based trading tool, showing trader positions across currency pairs—a feature DooPrime does not offer.
Interactive Brokers also provides unique research tools from Acuity Trading and market insights from TipRanks, which are not available with DooPrime. Both brokers include an economic calendar for global events, but Interactive Brokers garners a higher research rating of five stars, compared to DooPrime's four stars. According to ForexBrokers.com, Interactive Brokers ranks third for research among 62 brokers, while DooPrime holds the 29th spot, emphasizing the former's stronger market research offerings.
| 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 resources for beginners, Interactive Brokers and DooPrime both provide a range of materials to help new traders get started with forex and CFDs. Both offer a minimum of 10 educational pieces, such as articles and videos, aimed at these financial instruments. However, Interactive Brokers goes further by offering monthly online educational webinars, which are absent in DooPrime’s offerings. Not only does Interactive Brokers provide live interactive sessions, but it also maintains a searchable archive of past webinars, allowing learners to access a wealth of information at their convenience.
Moreover, while both brokers offer at least 10 beginner and 10 advanced educational videos each, Interactive Brokers surpasses DooPrime with an added resource: a comprehensive investor dictionary featuring over 50 investing terms. This helps demystify complex concepts for novices. Reflecting their comprehensive educational services, Interactive Brokers is ranked third among 62 brokers by ForexBrokers.com, boasting a 5-star rating for education. In comparison, DooPrime carries a 4-star rating and is ranked 25th in the education category, indicating that while it is a solid choice, Interactive Brokers provides a more enriching learning experience for budding investors.
| 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 62 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
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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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