DooPrime vs Forex4you Comparison
Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare DooPrime vs Forex4you.
Can I trust DooPrime?
DooPrime has a trust score of 84, giving it a "Average Risk" trust label.
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Forex4you?
Forex4you has a trust score of 62, giving it a "High Risk" trust label. Here's what each trust score label means:
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. DooPrime is SFC Authorised (Hong Kong) and FCA Authorised (U.K.), while Forex4you is none of these. Both do not have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, unfortunately, neither DooPrime nor Forex4you are CBRC Authorised (China), CySEC Authorised (Cyprus), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). Both do not have DFSA / Central Bank Authorised (UAE).. When comparing tier-3 licenses DooPrime is FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu), while Forex4you is FSC Authorised (British Virgin Islands). Both do not have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda) and CIMA Authorised (Cayman Islands).
Which broker offers more trading platforms?
Both DooPrime and Forex4you offer a Proprietary Platform and Desktop Platform (Windows). Both do not have cTrader, DupliTrade and ZuluTrade
Does DooPrime offer MetaTrader? Does Forex4you offer MetaTrader?
Both DooPrime and Forex4you offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do DooPrime and Forex4you differ in terms of minimum deposit? What about average spreads and funding options?
DooPrime requires a minimum deposit of $100, while Forex4you requires a minimum deposit of $0. From our testing we found DooPrime offers spreads of -1, while Forex4you offers spreads of -1. Forex4you supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where DooPrime supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, DooPrime or Forex4you?
Forex4you offers a more diverse selection of investment options than DooPrime allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD). Both do not have Spread Betting. Looking at total tradeable symbols, DooPrime has 10000, compared to 150 from Forex4you.
Can I trade cryptocurrency with DooPrime or Forex4you?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither DooPrime nor Forex4you allow you to trade physical cryptocurrencies.
Who offers more research tools, DooPrime or Forex4you?
In terms of research and research tools Forex4you gives traders the following tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison DooPrime has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.