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DooPrime vs Trade Nation 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between DooPrime and Trade Nation? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, DooPrime ranks more highly than Trade Nation.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall Rating expand_moreexpand_less DooPrime Trade Nation XTB
Overall Rating 7.7 / 10 7.1 / 10 8.7 / 10
Account Type expand_moreexpand_less DooPrime Trade Nation XTB
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account No No Yes
Copy Trading expand_moreexpand_less DooPrime Trade Nation XTB
Social Trading / Copy Trading Yes No Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less DooPrime Trade Nation XTB
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) No No Yes
Bitcoin No No Yes
ethereum No No Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less DooPrime Trade Nation XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less DooPrime Trade Nation XTB
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less DooPrime Trade Nation XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No Yes No
Social Trading / Copy Trading Yes No Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF Yes No No
U.S. Stocks (CFD) Yes No Yes
Trading Platforms expand_moreexpand_less DooPrime Trade Nation XTB
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes No No
Regulatory Licenses expand_moreexpand_less DooPrime Trade Nation XTB
Tier-1 Licenses 2 2 1
ASIC Authorised (Australia) No Yes No
IIROC Authorised (Canada) No No No
FCA Authorised (U.K.) Yes Yes Yes
SFC Authorised (Hong Kong) Yes No No
MAS Authorised (Singapore) No No No
FINMA Authorised (Switzerland) No No No
CFTC Registered (USA) No No No
Tier-2 Licenses 0 1 3
Tier-3 Licenses 2 1 1
Research, Education expand_moreexpand_less DooPrime Trade Nation XTB
Trading Central (Recognia) Yes No No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes No Yes
Autochartist No No No
Investor Dictionary (Glossary) No Yes No
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) No No Yes
Trading Costs expand_moreexpand_less DooPrime Trade Nation XTB
Minimum Initial Deposit $100 $0 $0
Average Spread EUR/USD - Standard -1 0.6 0.9 (Q3 2021)
All-in Cost EUR/USD - Active -1 0.6 0.9 (Q3 2021)
Active Trader or VIP Discounts No No Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less DooPrime Trade Nation XTB
Watchlists - Total Fields 7 12 8
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 30 35 39
Mobile Charting - Indicators / Studies 30 95 39
Trust Factors expand_moreexpand_less DooPrime Trade Nation XTB
Year Founded 2014 2014 2002
Publicly Traded (Listed) No No Yes
Bank No No No
Authorised in European Union No No Yes
Trust Score 84 83 95
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DooPrime vs Trade Nation 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 Trade Nation.

Can I trust DooPrime?

DooPrime has a trust score of 84, giving it a "Average Risk" 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust Trade Nation?

Trade Nation has a trust score of 83, giving it a "Trusted" trust label.

Is DooPrime a good broker?

Is Trade Nation a good broker?

Trade Nation offers an innovative platform suite that is optimized for ease-of-use, and great for beginners. That being said, the lack of advanced trading features may leave experienced traders wanting more.

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 Trade Nation is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have 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, DooPrime is none, while Trade Nation is FSCA Authorised (South Africa)., neither have CBRC Authorised (China), CySEC Authorised (Cyprus), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses DooPrime is FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu), while Trade Nation is SCB Authorised (Bahamas)., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands) and CIMA Authorised (Cayman Islands).

Which broker offers more trading platforms?

Both DooPrime and Trade Nation offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does DooPrime offer MetaTrader? Does Trade Nation offer MetaTrader?

For MetaTrader DooPrime provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do DooPrime and Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?

DooPrime requires a minimum deposit of $100, while Trade Nation requires a minimum deposit of $0. From our testing we found DooPrime offers spreads of -1, while Trade Nation offers spreads of 0.6. DooPrime supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, DooPrime or Trade Nation?

DooPrime offers a more diverse selection of investment options than Trade Nation allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, DooPrime has 10000, compared to 601 from Trade Nation.

Can I trade cryptocurrency with DooPrime or Trade Nation?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither DooPrime nor Trade Nation allow you to trade physical cryptocurrencies.

Who offers more research tools, DooPrime or Trade Nation?

In terms of research and research tools DooPrime gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Trade Nation has the tools listed here: Stock Charts and Forex News (Top-Tier Sources)., neither have Autochartist




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