Doo Prime Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- In Trade
- FCA UK
- ASIC
- SEC
- VFSC
- TCSP Hong Kong
- FSC Mauritius
- FSA Seychelles
- 2015
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- In Trade
- FCA UK
- ASIC
- SEC
- VFSC
- TCSP Hong Kong
- FSC Mauritius
- FSA Seychelles
- 2015
Our Evaluation of Doo Prime
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Doo Prime is a broker with higher-than-average risk and the TU Overall Score of 3.45 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Doo Prime clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Doo Prime is a broker suitable for active and social trading, as well as investing in managed accounts.
Brief Look at Doo Prime
Doo Prime is a brokerage company that has been providing financial instruments for trading since 2014. The company offers clients access to the Forex market, CFDs on indices, stocks, futures, metals, and commodities. Doo Prime operates under licenses from the U.K.'s FCA (Financial Conduct Authority), Hong Kong's TCSP (Trust or Company Service Providers), the U.S. SEC (Securities and Exchange Commission), Mauritius' MU FSC (The Financial Services Commission), Vanuatu's VFSC (Vanuatu Financial Services Commission), Australia's ASIC (Australian Securities and Investment Commission), and Seychelles' FSA (Financial Services Authority). The company has offices in Dallas, Texas, Ho Chi Minh City (Vietnam), Dubai (U.A.E), and ten other cities.
- Operations are based on licenses from seven different financial regulatory organizations.
- Broker offers over 10,000 various financial instruments.
- There are three trading account types for both beginners and professionals.
- Availability of PAMM and MAM accounts for passive investing.
- Cent accounts for trading with reduced risks.
- The broker does not offer cryptocurrency trading.
- There is no first-deposit bonus for new clients.
- There is a limited variety of deposit and withdrawal methods.
TU Expert Advice
Financial expert and analyst at Traders Union
Doo Prime has been operating in the financial markets for almost 10 years. Over this time, the company has demonstrated high rates of development and rightfully earned a reputation as one of the most client-oriented brokers. Doo Prime offers comfortable trading conditions, allowing users to choose based on their experience. For beginners, there's the CENT account, while professionals can trade on an STP or ECN account. Spread sizes depend on the account type, with the highest on the CENT account and the lowest on the ECN account. Doo Prime collaborates with over 20 liquidity providers, ensuring traders always receive favorable and competitive quotes.
Doo Prime provides classic MT4 and MT5 trading platforms, as well as its proprietary mobile trading software, In Trade. The leverage ratio goes up to 1:1000 depending on the trading instrument. Spreads start from 0.1 pips, but their size also depends on the account type. The minimum deposit for CENT and STP accounts is $100, while for ECN accounts, it's $5,000.
Doo Prime offers multiple communication channels for client support, and the operators respond quickly, guiding all inquiries. The company's website contains essential legal information, including details about the organizations that have granted licenses to Doo Prime. Additionally, the broker regularly publishes financial news, along with educational and analytical materials.
Doo Prime Summary
Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Doo Prime Ltd and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | МТ4, МТ5, In Trade |
|---|---|
| 📊 Accounts: | Demo, cent, STP, ECN, Followme, and Myfxbook |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfer, credit and debit cards, electronic systems such as Skrill, EPay, FasaPay, and HWGC |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | Floating (from 0.1 pips) |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, futures, indices, metals, and commodities. |
| 💹 Margin Call / Stop Out: | Stop out — 30% |
| 🏛 Liquidity provider: | More than 20 international banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | Free VPS server on a deposit of 5,000 USD or more |
| 🎁 Contests and bonuses: | Yes |
Doo Prime offers trading in over 10,000 instruments, with CENT, STP, and ECN accounts available. Traders can use MetaTrader 4/5 trading platforms and the proprietary mobile platform, In Trade. Clients have trading leverage ranging from 1:1 to 1:1000, and they can expect quick order execution within 50 milliseconds. Beginners can practice on a demo account, while experienced market participants can use it to test conditions and refine trading strategies.
Doo Prime Key Parameters Evaluation
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Trading Account Opening
To begin trading with Doo Prime, register on the broker's website and open a trading account. The registration process looks as follows:
On the Doo Prime company website, click on "Register" or "Join us."
Fill out a brief registration form, where you provide your phone number or email, create a password, agree to the rules and privacy policy, and click “Sign Up.”
Features of Doo Prime’s user account:
Your Doo Prime user account also allows you to:
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Fund and withdraw funds, and transfer between accounts.
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Change personal information and passwords.
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Transaction history on trading accounts, statistics for social trading, and the partner program.
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Download installation files for trading platforms.
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Contact client support through tickets.
Regulation and safety
Doo Prime has branches in 13 cities, including Dubai, Dallas, and Sydney. The activities of the broker's branches comply with the laws of the countries in their jurisdiction. The company holds seven different licenses: FCA in the U.K., ASIC in Australia, SEC in the U.S., VFSC in Vanuatu, TCSP in Hong Kong, MU FSC in Mauritius, and FSA in Seychelles. The company has a professional indemnity insurance (PII) policy to protect its clients and ensure a secure trading environment.
Advantages
- The company's capital is segregated from client funds, and all investor funds are kept also in segregated accounts.
- Protection against a negative balance is provided.
- The broker holds multiple licenses from various financial organizations, enhancing client trust.
Disadvantages
- Without verifying their account, clients have limited access to the user account features.
- Opening an account is possible after uploading all necessary documents.
- There is no option to set up two-factor authentication to enhance account security.
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| CENT | $0.19 | No |
| STP | $12 | No |
| ECN | $1 | No |
Swap rates (fees for carrying over open orders to the next day) are applicable. Traders Union specialists compared the average spreads of Doo Prime, RoboForex, and Pocket Option. Since the information on the website was not present, Forex data from tables provided by the broker's manager was used.
| Broker | Average commission | Level |
|---|---|---|
|
$4.4 | |
|
$1 | |
|
$8.5 |
Account types
Doo Prime offers three trading account types, including ECN with direct access to liquidity providers. Leverage on all accounts is up to 1:1000, and trading can be done on any version of the broker-provided trading platform. In addition to the main accounts, Doo Prime has two additional ones, one for social trading and the other for diversified portfolios.
Account types:
Demo accounts can be opened on any trading platform. Doo Prime is a broker with a good selection of accounts for active trading, making it suitable for both novice and professional traders.
Deposit and Withdrawal
Withdrawal options. Funds can be withdrawn to electronic wallets and domestic and international bank transfers.
Minimum withdrawal amount. The minimum withdrawal amount is equivalent to 50.
Currency options. Depending on the withdrawal method, funds can be withdrawn in USD, EUR, GBP, CNY, THB, VND, and IDR.
Foreign currency withdrawal. Foreign currencies are withdrawn with conversions at the USD exchange rate.
Withdrawal Time. The withdrawal time depends on the amount: up to $50,000 takes 2 days; $50,000 to $200,001 takes 3 days; over $200,001 takes 5 days.
Investment Options
Doo Prime collaborates with traders who engage in independent trading, use social trading, and are passive investors. The broker provides clients with the opportunity to earn by investing in MAM and PAMM accounts. Additionally, Doo Prime has an extensive service where users can choose successful traders and subscribe to their signals. Doo Prime offers cooperation to Introducing Brokers (IBs), granting them access to various marketing materials and software for tracking referrals' activity and calculating potential profits.
PAMM and MAM accounts are passive earnings through investments.
Doo Prime offers clients managed accounts such as MAM and PAMM. To open or close these accounts, clients need to contact the account manager. If a closure is necessary, and there are open orders, consent to close them at the current price is required.
Features of PAMM and MAM accounts:
PAMM accounts support profit distribution, conducted monthly and every other weekend.
Investors can withdraw funds at any time, but it's not recommended to leave a zero balance to avoid going negative after profit redistribution.
Managers have access to functional software for simultaneous management of multiple PAMM and MAM accounts.
Anyone can invest in managed accounts, but becoming a manager is reserved for professional traders who have proven their experience and understanding of financial markets.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Doo Prime's partner program:
Introducing Broker. It is a program with a multi-level reward system for bringing in new clients. Partners receive special In Trade software, access to promotional materials, and dedicated landing pages.
Introducing brokers can withdraw commissions once every two days. Doo Prime partners gain access to a large pool of potential clients, regularly receive gifts, and are eligible for bonuses.
Customer support
The client support team is available 24/7.
Advantages
- You can reach out to support at any time.
- There is a feedback form available on the website.
Disadvantages
- The online chat does not provide detailed information about trading conditions.
- There is no option to request a callback.
You can contact Doo Prime’s support via:
Phone.
Feedback form.
Tickets in the user account.
Email.
Online chat.
Doo Prime provides seven phone numbers for contacting consultants in different regions, allowing many clients to communicate.
Contacts
| Foundation date | 2015 |
|---|---|
| Registration address |
Doo Prime Vanuatu Ltd, Govant Building, Po Box 1276, Port Vila, Vanuatu Doo Prime Limited, Fifth Floor, Zephyr House, 122 Mary Street, George Town, P.O. Box 31493, Grand Cayman KY1-1206, Cayman Islands |
| Regulation | FCA UK, ASIC, SEC, VFSC, TCSP Hong Kong, FSC Mauritius, FSA Seychelles |
| Official site | https://www.dooprime.com/en/ |
| Contacts |
Education
The Doo Prime website offers an extensive education section, accessible only after registration in the user account. The broker provides information about financial markets that is beneficial for both beginners and professionals.
The broker offers cent accounts, making it recommended for novice traders to start trading on them. After consolidating acquired knowledge, traders can transition to a standard account.
Comparison of Doo Prime with other Brokers
| Doo Prime | RoboForex | Exness | TeleTrade | Markets4you | FxGlory | |
| Trading platform |
In Trade, MT4, MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MT4, MobileTrading, MT5 | MT4, MobileTrading, MT5 |
| Min deposit | $100 | $10 | $10 | $10 | No | $1 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:10 to 1:2000 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | 8.00% |
| Spread | From 0.1 points | From 0 points | From 1 point | From 0.8 points | From 0.1 points | From 2 points |
| Level of margin call / stop out |
No / 30% | 60% / 40% | 60% / No | 70% / 20% | 100% / 20% | 20% / 10% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Instant Execution, Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Detailed review of Doo Prime
Doo Prime strives to create the most comfortable and transparent conditions for its clients. Throughout its existence, the company has developed and implemented new technologies aimed at improving the quality of services and adding various useful options. The broker's website features a "Help Centre" with answers to the most frequently asked questions. In the user account, clients have access to MTE Media, a section with news, analytics, and a wealth of useful information.
Doo Prime by the numbers:
There are over 10,000 trading instruments.
The broker has been 10 years in the brokerage services industry.
Leverage is up to 1:1000.
There are over 90,000 clients worldwide.
More than 250 institutional partners.
Doo Prime is a broker for active trading and investment in PAMM and MAM accounts
Doo Prime offers several account types suitable for both beginners and professional traders. The company provides ECN accounts for experienced market participants with the ability to trade directly with liquidity providers. On these accounts, the most favorable conditions are offered due to reduced spreads and better quotes. Doo Prime clients have access to six groups of financial assets. For those who prefer passive investments, there are PAMM and MAM accounts, as well as access to copy trading from successful traders. The company does not restrict the use of advisors and or other trading strategies.
Doo Prime clients trade on the classic MT4 and MT5 trading platforms, as well as in the proprietary mobile application, In Trade. The In Trade software is optimally adapted for the simultaneous management of multiple accounts, making it frequently used by PAMM and MAM managers.
Doo Prime’s analytical services:
VPS (Virtual Private Server) for uninterrupted trading in case of internet or power issues.
Outrade. It is a social trading network with over 100,000 traders and 140,000 profitable orders.
FIX API. It is a protocol for fast and secure exchange of financial information.
Daily reporting for all client types: traders, investors, and partners.
Economic calendar for predicting events that may impact the market and prices.
Advantages:
A social trading platform is available for copying trades.
A user account with access to analytical and educational materials.
Both classic and proprietary trading platforms are provided.
Client funds are stored in segregated accounts.
A demo account is available for trading with virtual funds.
Account funding can be done in 23 currencies with conversion to USD.
In the company's user account, a ticket system is available to all clients, allowing them to reach out to Doo Prime staff for assistance and consultations.
User Satisfaction i