Written by ForexBrokers.com
In this head to head comparison of OANDA vs DooPrime, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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OANDA and DooPrime, both established online brokers, exhibit different levels of trustworthiness as per ForexBrokers.com ratings. Founded in 1996, OANDA holds a notable Trust Score of 93 out of 99, indicating a high level of trust. This is supported by its possession of seven Tier-1 licenses, the most prestigious type of regulatory approval. On the other hand, DooPrime, established in 2014, has a Trust Score of 83, reflecting a solid level of trust but slightly lower than that of OANDA. DooPrime holds four Tier-1 licenses, which still indicate strong regulatory compliance, yet not as extensive as OANDA's.
Neither OANDA nor DooPrime are publicly traded entities, nor are they banks, keeping their structures more straightforward for potential investors. However, their reliability in terms of regulatory approval underlines their commitment to compliance and security for customers. With both brokerages sharing no Tier-2 licenses, prospective clients might view the breadth of Tier-1 licenses as a key differentiator. OANDA's longer market presence and higher Trust Score might appeal to those prioritizing an extensive regulatory framework, while DooPrime presents a robust trusted option with solid credentials.
| Feature |
OANDA
|
DooPrime
|
|---|---|---|
| Year Founded | 1996 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
OANDA and DooPrime differ significantly in their approach to commissions and fees, catering to various needs of traders. OANDA's forex trading costs tend to be on the higher side, with spreads (the fees clients pay to trade) that compete closely with platforms like FOREX.com and FxPro. The minimum spread cost at OANDA can be higher compared to brokers advertising sub-pip spreads. In July 2024, the average spread for OANDA's non-core pricing on the EUR/USD pair was 1.61 pips. However, OANDA offers a core pricing scheme with reduced spreads that include a per-side commission, resulting in an overall slightly lower cost compared to their commission-free pricing. For example, with core pricing, a EUR/USD trade might incur costs as low as 1.4 pips when considering both spread and commission.
OANDA distinguishes itself by offering flexibility in contract sizes and an attractive Elite Trader program. Traders can execute trades as small as one unit or 0.001 micro lot, allowing for more precise trading strategies. Additionally, OANDA rewards active traders with rebates for high-volume trading, which can increase cost efficiency over time. Moreover, OANDA emphasizes pricing transparency, frequently updating its average spread data, although it lacks fixed-term average spread data for more accurate comparisons. Despite these features, OANDA receives a 4-star rating for commissions and fees and is ranked 34th out of 62 brokers by ForexBrokers.com.
On the other hand, DooPrime's commission and fee structure is less detailed, with average spread data unavailable for comparison, resulting in a slightly lower ranking. DooPrime's overall effectiveness is reflected in its 3-star rating in commissions and fees, placing it at the 58th position out of 62 brokers in this category. While DooPrime might not provide the same level of transparency and detailed information regarding its commissions and fees, it may still cater to traders seeking straightforward options without the additional frills offered by platforms like OANDA.
| Feature |
OANDA
|
DooPrime
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 it comes to the available range of investments, OANDA and DooPrime cater to traders with different needs and preferences. Both platforms allow users to trade forex either as CFDs or spot contracts. OANDA offers 3,928 tradeable symbols and 68 forex pairs, whereas DooPrime provides a more extensive selection with 10,000 tradeable symbols and 60 forex pairs. For those interested in exchange-traded securities, DooPrime offers clients the ability to purchase shares on U.S. and international exchanges, which OANDA does not provide. Moreover, both brokers support copy trading, appealing to those who prefer to replicate the trades of successful investors. OANDA stands out by allowing users to buy actual cryptocurrencies, while DooPrime focuses more on CFDs and does not offer delivered cryptocurrency options.
When evaluated for the range of investments, OANDA earns a respectable 4-star rating, securing the 27th position out of 62 brokers on ForexBrokers.com. DooPrime, on the other hand, receives a higher 5-star rating, placing 12th in the same ranking. This indicates a broader selection of investment options provided by DooPrime compared to OANDA, making it a potentially more attractive choice for investors seeking a wide array of tradable assets and direct stock purchases. However, traders who are interested in trading actual cryptocurrencies may find OANDA's offerings more aligned with their interests. Each platform presents distinct advantages, and choosing between them largely depends on individual investment goals and preferences.
| Feature |
OANDA
|
DooPrime
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 10000 |
| Forex Pairs (Total) | 68 | 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) | 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.
When it comes to trading platforms and tools, both OANDA and DooPrime offer a range of features that cater to traders of all levels. Each broker provides a free virtual demo account for simulated trading, allowing newcomers to practice without risks. They also boast proprietary platforms developed in-house, along with Windows-based desktop applications and web-based options accessible via a browser. For those interested in popular trading software, both OANDA and DooPrime support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as offer opportunities for copy trading, enabling users to emulate the trades of successful investors.
While neither broker supports DupliTrade or ZuluTrade, there are distinct differences in their charting tools. OANDA stands out with its extensive suite of 431 drawing tools compared to DooPrime's 15. Both platforms allow trading directly from stock charts, an efficient feature for swift traders. In terms of watch lists, DooPrime offers slightly more customization with 7 columns compared to OANDA's 6. Rated four stars in trading platforms and tools by users, OANDA ranks #16 out of 62 brokers, slightly ahead of DooPrime's #25 ranking. This positions both brokers as reputable choices, with particular strengths that cater to varied trading needs.
| Feature |
OANDA
|
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) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and DooPrime offer comprehensive services for their users. Available for both iPhone and Android devices, these apps provide traders with the tools they need, including price alerts for stocks and forex, creation of watchlists with real-time quotes, and the ability to draw trendlines on charts. Each app supports 30 technical studies and multiple time frames for analyzing markets, along with automatically saving any drawings made on charts. However, a limitation of both apps is in their lack of watchlist symbol syncing, which means changes made on the mobile app do not sync with online accounts.
Despite these similarities, OANDA stands out with a mobile trading app rating of five stars compared to DooPrime's four. According to ForexBrokers.com, OANDA is ranked #7 out of 62 brokers for its mobile trading experience, while DooPrime is positioned at #24. This suggests that users find OANDA's app more effective and reliable for mobile trading, cementing its position as a preferred choice for those seeking efficient and easy-to-use mobile trading platforms.
| Feature |
OANDA
|
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 the market research capabilities of OANDA and DooPrime, traders looking for daily insights will find that both brokers provide regular market commentary. Both platforms keep clients informed with forex news from well-known sources such as Bloomberg and Reuters. However, where they differ is in the type of analytical tools they offer. OANDA provides tools from Autochartist and a sentiment-based trading tool that indicates the ratio of long or short positions across currency pairs, which can be invaluable for traders looking to align their strategies. On the other hand, DooPrime lacks Autochartist but compensates with tools from Trading Central, which includes various technical analytics to aid decision-making.
Both OANDA and DooPrime offer economic calendars that highlight global news events, helping traders keep track of upcoming economic changes. However, neither broker provides research tools from TipRanks or Acuity Trading. In terms of research ratings, OANDA stands out with a perfect 5-star rating and holds a high rank of #5 among 62 brokers on ForexBrokers.com. Meanwhile, DooPrime, though equipped with its own set of tools, scores a solid 4-star rating and is ranked #29. This comparison showcases OANDA's edge in market research offerings, particularly for traders who prioritize a diverse set of analytical tools.
| Feature |
OANDA
|
DooPrime
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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.
OANDA stands out as a compelling choice for beginners seeking comprehensive educational resources in the forex and CFDs trading space. The broker not only provides a wide array of educational materials, including articles, videos, and archived webinars, but also offers the added advantage of live monthly webinars. This interactive feature allows beginners to engage directly and deepen their understanding of trading concepts. Additionally, OANDA offers a rich library of previously recorded webinars that can be easily searched, enabling learners to access valuable insights at their convenience. Further, its educational offerings include a diverse collection of both beginner and advanced trading videos, ensuring that traders at different skill levels find relevant content. An added resource is OANDA’s investor dictionary, which covers over 50 investing terms, equipping traders with essential vocabulary needed for trading.
DooPrime, on the other hand, provides a solid foundation for beginners with its range of educational materials, including articles and videos focused on forex and CFDs. While it matches OANDA in offering more than 10 educational videos each for beginner and advanced traders, it falls short in the area of live webinars. DooPrime does not provide monthly webinars or a searchable archive of recorded webinars, limiting opportunities for real-time learning and interaction. This broker also does not offer an investor dictionary for those looking to bolster their trading terminology. Despite these limitations, DooPrime earns a commendable 4-star rating for its educational resources, ranking only a couple of spots behind OANDA among 62 brokers, showing that it remains a strong contender in supporting beginners on their trading journey.
| Feature |
OANDA
|
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 OANDA is better than DooPrime. OANDA finished with an overall rank of #12, while DooPrime finished with an overall rank of #28.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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DooPrime
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|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 83 |
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OANDA allows users to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas DooPrime does not provide options for purchasing either actual cryptocurrencies or cryptocurrency derivatives.
OANDA supports ACH and SEPA transfers, unlike DooPrime, but both platforms offer multiple deposit and withdrawal options, including PayPal, Skrill, Visa, Mastercard, and bank wires, making them versatile choices for online trading.
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 | OANDA | DooPrime | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review |
| Broker Screenshots | OANDA | DooPrime | |
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| Regulation | OANDA | DooPrime | |
|---|---|---|---|
| Trust Score | 93 | 83 | |
| Year Founded | 1996 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | OANDA | DooPrime | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | 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). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | 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 | OANDA | DooPrime | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 10000 | |
| Forex Pairs (Total) | 68 | 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) | 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 | OANDA | DooPrime | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | DooPrime | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Yes | No |
| Trading Platforms | OANDA | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | DooPrime | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | DooPrime | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review |
| Overall | OANDA | DooPrime | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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