IC Markets vs DooPrime 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

IC Markets has a Trust Score of 84, giving it a "Trusted" Trust Score Label.

DooPrime has a Trust Score of 83, giving it a "Trusted" Trust Score Label.

IC Markets' low spreads, competitive pricing, and scalable execution policies make it a great choice for algorithmic traders. A trusted broker licensed in multiple Tier-1 regulatory jurisdictions, IC Markets boasts support for a variety of social copy trading apps, including its IC Social mobile app. IC Markets consistently ranks near or at the top of our ratings for MetaTrader brokers (and was our top pick for MetaTrader brokers in 2023). Traders at IC Markets gain access to MetaTrader 4 and MetaTrader 5, as well as the Advanced Trading Tools package for desktop and support for third-party plugins from Autochartist and Trading Central. It's worth noting that the broker's research and educational offerings still have room to improve.

DooPrime is primarily a MetaTrader broker that offers both MT4 and MT5, along with several copy trading platforms and its proprietary In Trade platform. Founded in 2015, DooPrime is a relatively new forex broker regulated in multiple Tier-1 jurisdictions, like Hong Kong and the U.K., boosting the broker's overall Trust Score. DooPrime also provides nearly 10,000 tradeable symbols, but we were unable to obtain average spread data when evaluating the broker's trading costs.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. IC Markets holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised). DooPrime, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised). Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, IC Markets is Cyprus (CySEC Authorised), while DooPrime is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses IC Markets is Bahamas (SCB Authorised) and Mauritius (FSC Authorised), while DooPrime is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Cayman Islands (CIMA Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that IC Markets offers a Desktop Platform (Windows), cTrader and ZuluTrade, whereas DooPrime supports a Proprietary Platform and Desktop Platform (Windows). Neither have DupliTrade

Both IC Markets and DooPrime 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.

IC Markets requires a minimum deposit of $200, while DooPrime requires a minimum deposit of $100. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both IC Markets and DooPrime offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both IC Markets and DooPrime offer Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; IC Markets offers 3583, and DooPrime offers a total of 10000 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither IC Markets nor DooPrime allow you to trade physical cryptocurrencies.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. IC Markets delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. DooPrime, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading

Broker Reviews