Doo Prime is a multi-regulated online forex and CFD broker that offers trading on a variety of financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies. They offer tight spreads, a variety of trading platforms, and 24/7 customer support.
Doo Prime Review 2024
Updated:
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by
Doo Prime
Broker :
Doo Prime
Founded :
2014
Headquarters :
Vanuatu
Trading Desk :
ECN/STP
Regulation
FCA, ASIC, SEC, FINRA, FSA in Seychelles, FSC in Mauritius and FSC in Vanuatu
Email :
en.support@dooprime.com
Website :
dooprime.com
Forex margin trading involves substantial risks. 72.12% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.
Accounts :
Cent, ECN and STP Account
Max Leverage :
1:1000
Min Deposits :
$0
Base Currencies :
USD
Swap Free :
✅
Demo Trade :
✅
Copy Trading :
✅
Commission :
✅
Hedging :
✅
Scalping :
✅
Platform :
MT4, MT5, Doo Prime InTrad, TradingView
Regulation :
FCA, ASIC, SEC, FINRA, FSA in Seychelles, FSC in Mauritius and FSC in Vanuatu
Products :
Securities, Futures, Currency, Metals, Commodities, Stock Indices
Language :
English, Chinese, Japanese, Korean, Portuguese, Arabic, Spanish, Thai, Uyghur, Vietnamese
Support :
24/7
Address :
Govant Building, Po Box 1276, Port Vila, Vanuatu
Funding Methods :
Pros
Multiple Strict Regulations
Ultra-Low Spreads
10,000+ Trading Products
Ultra Low Latency
Flexible Fund Access
Multiple Trading Accounts
Cons
Limited education and research
No Crypto trading
Regulation Details
Doo Prime Seychelles Limited
Company registered office address at Room B11, 1st Floor Providence Complex, Providence, Mahe, Seychelles and the company registration number is 8427202-1.
Doo Prime Seychelles Limited is a licensed securities dealer, authorized and regulated by the Seychelles Financial Services Authority (SC FSA), and the regulatory number is SD090.
Doo Prime Mauritius Limited
Doo Prime registered office address at The Cyberati Lounge, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebene, Republic of Mauritius and the company registration number is 172054.
Doo Prime Mauritius Limited is a licensed investment dealer, authorized and regulated by the Mauritius Financial Services Commission (MU FSC), and the regulatory number is C119023907.
Doo Prime Vanuatu Limited
Doo Prime registered office address at Govant Building, Po Box 1276, Port Vila, Vanuatu and the company registration number is 700238. Doo Prime Vanuatu Limited is a licensed financial dealer, authorized and regulated by the Vanuatu Financial Services Commission (VU FSC), and the regulatory number is 700238.
Tradable Instruments
Doo Prime offers a wide variety of tradable instruments across several asset classes. Here’s a breakdown:
- Securities: This includes Contracts for Difference (CFDs) on stocks. Doo Prime offers a limited selection, with around 10+ US and Hong Kong stocks available for trading.
- Futures: You can trade CFDs on futures contracts.
- Forex: Doo Prime offers a large selection of currency pairs, with over 1,749+ available for trading.
- Precious Metals: Trade CFDs on precious metals like gold and silver.
- Commodities: Doo Prime allows trading CFDs on various commodities like oil and natural gas.
- Stock Indices: Gain exposure to a basket of stocks through CFDs on major stock indices like S&P 500 and Nasdaq.
Overall, Doo Prime boasts a vast selection with over 10,000 financial products to trade. You can access these instruments through a single integrated account, making it convenient to manage your portfolio.
Trading Accounts
Doo Prime offers various trading accounts to suit different needs:
Cent Account: This is a good option for beginners who want to practice trading with minimal capital. It uses a cent denomination, so the risk per trade is much smaller.
STP Standard Account: This account offers standard Straight Through Processing (STP) execution, with tight spreads and commission fees.
ECN Professional Account: This account is designed for experienced traders who prefer Electronic Communication Network (ECN) execution. It offers the lowest spreads and more transparency into order execution.
- The minimum deposit amount varies depending on the account type.
- Doo Prime offers high leverage, but keep in mind that high leverage can amplify both your profits and losses.
- Doo Prime supports popular platforms like MetaTrader 4, MetaTrader 5, and TradingView.
Account Opening
Steps to register with Doo Prime
- Navigate to our Doo Prime Official Website.
- Click on the Register button on the upper right corner.
- Then you will be redirected to Registration Page where you will need to fill in your contact details to create an account.
- You are also required to create a password which will be your password for your Doo Prime Client Account.
- After filling out the form and clicking Continue, you will receive a 4-digit verification code via email. You need to enter this verification code in the relevant box and you will be redirected to the client area.
Commission and Fees
Doo Prime’s commission structure involves a combination of spreads and commission fees:
Spreads: These vary depending on the instrument you trade but can be competitive, starting from 1 pip. The spread represents the difference between the bid and ask price, essentially the cost you incur when entering a trade.
Commission Fee: Doo Prime charges a fixed commission fee per trade, typically around USD $10. This fee applies regardless of the trade size.
Important to Note:
These are general figures. Doo Prime doesn’t explicitly list their commission fees on their main website.
Commission fees might differ depending on the Doo Prime entity you choose to establish a business relationship with, as they have offices in various jurisdictions.
Trading Platform
Doo Prime offers a variety of trading platforms to cater to different trader preferences:
MetaTrader 4 (MT4): A widely popular and user-friendly platform known for its extensive technical analysis tools, charting capabilities, and automated trading (bots) functionality.
MetaTrader 5 (MT5): The successor to MT4, offering a more advanced platform with additional features like hedging and a wider range of order types.
Doo Prime InTrade: Doo Prime’s own platform, designed for a smooth and user-friendly experience. It boasts features like real-time market data, technical analysis indicators, and integration with social trading.
TradingView: A popular web-based charting platform known for its advanced charting tools and social networking features. Doo Prime offers integration with TradingView.
FIX API 4.4: For institutional investors or experienced traders who prefer a more customizable solution, Doo Prime provides a FIX API for direct access to their trading platform.
Customer Support
Doo Prime offers international customer support through phone calls and email. Here’s how to reach them:
Phone:
- Europe: +44 11 3733 5199
- Asia: +852 3704 4241
- Asia – Singapore: +65 6011 1415
- Asia – China Region: +86 400 8427 539
- Asia – Vietnam: +84 28 4458 2674
- Asia – Thailand: +66 020260620
- Asia – Korea: +82 0234837246
Email:
- General Inquiries: es.sales@dooprime.com
Additional Resources:
You can also visit Doo Prime’s Help Center for answers to frequently asked questions and other helpful resources. Their contact information is also available on their website under Contact Us page.
Deposit and Withdrawals
Doo Prime offers a variety of convenient methods for depositing and withdrawing your funds. Here’s a breakdown of what you need to know:
Funding Methods:
Multiple Options: You can choose from various methods like international bank transfer, local bank transfer, cryptocurrency, e-wallets (including NganLuong and PayPal), and even credit/debit cards (Visa/Mastercard).
Minimum Deposit: The recommended minimum deposit is USD 100, but it can vary depending on your chosen method.
Supported Currencies: Doo Prime supports over 20 currencies for deposits, offering flexibility for international investors.
Final Thoughts
Doo Prime offers a tempting spread of features for forex and CFD traders. With account options for beginners and veterans alike, they cater to various experience levels. Whether you prefer standard STP execution or more transparent ECN, Doo Prime has you covered. They boast tight spreads starting from 1 pip (variable) and a diverse selection of assets for trading, including forex, CFDs on stocks, indices, commodities, and even cryptocurrencies. For those who enjoy the social aspect of trading, Doo Prime’s “Outrade Trading Community” facilitates copy trading and highlights top performers through leaderboards.
However, some potential drawbacks need consideration. Doo Prime’s regulation status has received mixed reviews, and a scarcity of user reviews makes it difficult to gauge real-world experiences. Additionally, while they waive deposit/withdrawal fees, commission fees on top of spreads can add to trading costs.
Overall, Doo Prime presents attractive features but also some reasons for caution. If you’re an experienced trader comfortable with high leverage and social aspects, or someone seeking ECN execution, Doo Prime might be worth exploring.
FAQs
Where is Doo Prime based?
Doo Prime Limited is a company with the registered office address at Fifth Floor, Zephyr House, 122 Mary Street, George Town, P.O. Box 31493, Grand Cayman KY1-1206, Cayman Islands and the company registration number is SI-334856.
Is Doo Prime regulated?
Doo Prime is strictly regulated by global financial regulatory authorities such as Seychelles FSA, Mauritius FSC and Vanuatu FSC.
What is the minimum deposit for Doo Prime?
Doo Prime recommends a minimum deposit of USD 100 to get started with your trading journey.
What is Doo Prime maximum leverage?
Doo Prime provides leverage up to 1:1000 for all account types.
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