TD Ameritrade vs DooPrime 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 TD Ameritrade vs DooPrime.
Can I trust TD Ameritrade?
TD Ameritrade has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "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 DooPrime?
DooPrime has a trust score of 84, giving it a "Average Risk" trust label.
Is TD Ameritrade a good broker?
TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research, trading tools, and comprehensive educational resources for investing.
Is DooPrime a good broker?
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. TD Ameritrade is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while DooPrime is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)
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 TD Ameritrade nor DooPrime are CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE)., neither have DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses TD Ameritrade is none, while DooPrime is FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands) and CIMA Authorised (Cayman Islands).
Which broker offers more trading platforms?
Both TD Ameritrade and DooPrime offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does TD Ameritrade offer MetaTrader? Does DooPrime offer MetaTrader?
For MetaTrader TD Ameritrade provides neither of these, while DooPrime provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do TD Ameritrade and DooPrime differ in terms of minimum deposit? What about average spreads and funding options?
TD Ameritrade requires a minimum deposit of $0, while DooPrime requires a minimum deposit of $100. From our testing we found TD Ameritrade offers spreads of 1.26 pips (August 2021), while DooPrime offers spreads of -1. TD Ameritrade supports Bank Wire (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, TD Ameritrade or DooPrime?
TD Ameritrade offers a more diverse selection of investment options than DooPrime allowing you to trade Forex Trading and Trading - Forex or CFDs., neither have Spread Betting Looking at total tradeable symbols, TD Ameritrade has 0, compared to 10000 from DooPrime.
Can I trade cryptocurrency with TD Ameritrade or DooPrime?
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 TD Ameritrade nor DooPrime allow you to trade physical cryptocurrencies.
Who offers more research tools, TD Ameritrade or DooPrime?
In terms of research and research tools TD Ameritrade gives traders the following tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). 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., neither have Autochartist