Doo Prime Review

1. What is Doo Prime?
2. Doo Prime Pros and Cons
3. Regulation and Security Measures
4. Account Types and Benefits
5. Cost Structure and Fees
6. Trading Platforms and Tools
7. Trading Instruments
8. Deposit and Withdrawal Options
9. Customer Support and Responsiveness
10. Research and Education
11. Portfolio and Investment Opportunities
12. Account Opening
13. Additional Tools And Features
14. Doo Prime Compared to Other Brokers
15. Full Review of Broker Doo Prime

What is Doo Prime?

Doo Prime, an online Forex and CFD trading company headquartered in the Cayman Islands, is a part of the Doo Group company.

Operating under the name Doo Prime Vanuatu Limited, it is regulated and authorized by the Vanuatu Financial Services Commission (FSC), with additional licenses in Seychelles, Mauritius, and Malaysia. The broker provides access to a wide range of trading products including Securities, Futures, Forex, Precious Metals, Commodities, and Stock Indices.

Based on our research, now also the Doo Group includes other entities like Elish & Elish Inc in the USA, Doo Clearing Limited in the UK, and Doo Financial Australia Limited in Australia.

Overall, the broker offers competitive trading conditions and a variety of trading instruments through the popular MetaTrader trading platforms, however, the main entities operate under offshore regulations. Therefore, we recommend conducting thorough research before choosing Doo Prime as your trading broker.

Doo Prime Pros and Cons

Per our findings, the broker has both pros and cons that are important to consider. On the positive side, the broker offers competitive trading solutions and fees along with a diverse array of trading instruments, and access to the widely recognized MT4 and MT5 trading platforms. Besides, the Broker is quite widely presented, previously it operated only via an offshore entity which is why was placed by us under Scam List, yet now things have changed since Doo Prime obtained various licenses and opened entities around the world making them now a reliable choice for international trading including those traders like Doo Prime Myanmar Thailand, Indonesia, and other countries. Additionally, the firm provides 24/7 customer support, which is also an advantage, particularly for those new to trading.

For the cons, the research and educational resources are limited, so novice traders might better look for more suitable offerings. Also, the availability of offshore licenses could be a concern for traders who prioritize brokers with higher regulatory credentials.

Doo Prime Features

Doo Prime is a Forex and CFD broker with a reliable trading environment, competitive costs, convenient funding methods, and 24/7 multilingual support. Here you can find the main points about the broker’s services to help you assess Doo Prime offerings and determine if it is suitable for your trading needs:

Who is Doo Prime For?

Based on our research and Financial Expert Opinions Doo Prime offers favorable services for different levels of traders. The broker is also good for International trading due to its multiple entities availability. Doo Prime is good for the following:

• International traders
• Traders who prefer MT4 and MT5 trading platforms
• CFD and currency trading
• Traders from the UK, and Australia
• Beginners
• Professional traders
• STP execution
• Competitive Pricing
• EA/Auto trading
• 24/7 customer support
• Good trading tools

Doo Prime Summary

Doo Prime is a Forex trading company that offers a diverse range of trading instruments, competitive fees, and access to advanced platforms like MT4, MT5, and TradingView, also, it stands out for its low minimum deposit requirement and 24/7 customer support. However, the broker has limited educational resources and research materials, which may not be ideal for beginner traders.

Overall, the broker provides a good trading environment, yet it is advisable to conduct your own research and evaluate whether the broker’s offerings suit your specific trading requirements, especially considering the regulatory environment and potential variations across jurisdictions. Previously the broker operated only via offshore entities which wasn’t the safe option, yet currently trading under reliable entities of Doo Prime is considered safe.

55brokers Professional Insights

We find Doo Prime a good choice for traders with different levels of experience since there is good offering of the platforms including popular choices in addition Free access to TradingView so is choice suitable for various strategies either intraday or holding. Doo Prime is truly widely presented and is quite popular among traders worldwide, while previously we had concerns about its regulations, as trading with solely offshore Brokers is indeed very risky, for now due to additional licenses Doo Prime is considered safer choice.

All in all, the proposal is great for diverse instrument selection, yet all on CFD basis, while the cost structure is in line with the market average, and the provided account types come with good conditions, also considered a great choice for traders who want to start small, as there is 0$ deposit requirement at the start and quite balanced conditions provided for beginning traders. Yet, education is indeed limited, if you’re complete beginner looking for Brokers with free education you might check then XM, FP Markets or HFM.

Consider Trading with Doo Prime If:

Avoid Trading with Doo Prime If:

Regulation and Security Measures

Score – 4.5/5

Doo Prime Regulatory Overview

Doo Prime holds multiple licenses from regulatory bodies such as FSC in Vanuatu and FSA in Seychelles. Additionally, other entities within the Doo Group carry Top-Tier licenses, including FCA in the UK, SEC and FINRA in the USA, and ASIC in Australia. However, before engaging in trading activities, you should consider the variations that can arise when trading in different jurisdictions, even if you are using the same broker.

• Note that the broker is regulated and authorized in offshore zones, too. Therefore, you should conduct your research, to assess the broker’s reputation and legitimacy.

How Safe is Trading with Doo Prime?

Doo Prime demonstrates adherence to industry standards and compliance requirements. These include measures to protect client funds, such as segregation from company funds to keep client funds separate from the broker’s operational funds. Due to various regulation each entity apply different rules of traders protection, while overall the level of security is considered good.

• We also advise reviewing the broker’s documentation, legal agreements, and policies to gain a comprehensive understanding of the specific trading protections they offer. This will help you make an informed decision before engaging in any trading activities.

Consistency and Clarity

Doo Prime, starting as an offshore broker, has later acquired licenses from some of the top-tier authorities, such as FCA, establishing itself as a safe and reliable broker, with safety measures in place and favorable trading conditions offered.

At present Doo Prime offers its services in more than 190 countries, having a 400,000+ community of traders and loyalty and trust of clients, which speaks volumes about the broker’s standing in the market. Overall, Doo Prime offers quality and comprehensive services, equipped with industry innovations, good technological infrastructure, and safe trading environment. In the years of its operation Doo Prime has stayed consistent in its development and advancement, while for now the reviews of traders are mostly positive, which also reflect in good trading clarity.

Account Types and Benefits

Score – 4.6/5

Which Account Types Are Available with Doo Prime?

Doo Prime offers different types of accounts suitable for different trading needs and levels of experience. The three main account types of Doo Prime are Cent Account, STP Account, and ECN Account. The broker also offers additional accounts – Doo Prime CopyTrading account and FOLLOWME Account. Below see the comparison of the account types, to see which one is more suitable for your trading style, also note conditions on various entities may vary.

Cent Account

Those who choose Doo Prime’s Cent account will conduct their trades through one of the following platforms –  MT4 / MT5, Doo Prime InTrade, and TradingView. Actually, across the account types the trading platform availability is the same, so there are no platform limitations based on the account type. For the Cent account, the available currency is the US Cent. Traders can access to Forex, Precious Metals, and Commodities market, depositing $0. With the Cent accounts all the costs are built into spreads, which start from 1 pips, and there is no additional transaction fee applied. At last, Cent accounts enable access to Expert Advisors and Hedging strategies, but not in the US Trading, also note that Cent accounts are not available for Demo Trading.

STP Account

Through the STP Accounts traders gain access to larger range of DooPrime including Securities, Futures, Currency, Metals, Commodities, and Stock Indices. The minimum deposit to start trading is just $1. Spreads start from 1 pips, with no additional transaction fees/commissions so all costs are based on spreads. The minimum lot size is 0.01 again, but the maximum lot size is 100, which is different from the Cent accounts. With this account type, a Demo option is available.

ECN Account

Doo Prime’s ECN account provides competitive costs, ideal for scalping, day trading, and high-frequency trading strategies. This account type charges commission as Broker fee, which can be beneficial for traders making frequent or high-volume trades. Typically, ECN accounts commission ranges around $3 to $7 per lot per side, though it’s best to check directly with Doo Prime relevant entity exactly the commission applied. With this account option, traders gain access with a minimum deposit of $100. Traders can also try Demo, before engaging in trading with real funds, to practice their skills and avoid financial loss.

Regions Where Doo Prime is Restricted

Based on the information from the Doo Prime website on restrictions of certain countries due to regulatory and legal requirements, below you can see a list of countries where Doo Prime services are unavailable:

• Afghanistan
• Canada
• Congo (Kinshasa)
• Cuba
• Cyprus
• Hong Kong
• Indonesia
• Iran
• Malaysia
• North Korea
• Singapore
• Spain
• Sudan
• Syria
• United Arab Emirates
• United States
• Yemen

Cost Structure and Fees

Score – 4.2/5

Doo Prime Brokerage Fees

The fee structure with Doo Prime is mostly based on the account type chosen. For two of its account types (Cent and STP) the trading costs are calculated into spreads, and only for the ECN accounts there are interbank spreads plus commission.

Besides the main trading fees, Doo Prime clients should consider other costs as well to understand fee structures, such as withdrawal fees, overnight fees, and other costs that will be applied while trading.

• Doo Prime Spreads

Doo Prime spreads depend on the account type and the instrument traded. For Cent and STP accounts spreads start from 1 pips, and there is no additional fee applied, which is overall considered competitive. For the ECN accounts there are no spreads as Broker fees but all costs are charged via the commission. However, before start of trading, it is advisable to check all the applicable costs with the account manager or your relevant entity based on registration.

• Doo Prime Commissions

For the ECN account, a commission fee applies as it represents Doo Prime Commission based account. The fee varies depending on the instrument traded and other factors, so it’s advisable for traders to confirm the exact charges with their assigned account manager. Typically, the commission fee ranges from $3 to $7 per side per lot. However, the final rate may depend on your specific trading needs and circumstances. Doo Prime does not charge commissions for its main accounts, as all costs are integrated into the spreads.

• Doo Prime Rollover/Swaps

Actually, Doo Prime does charge overnight fees, which are applied for holding a position in certain markets overnight. For EUR/USD swaps we found that the long swaps are -5.753 (Points/USD), while the short positions are 0.702 (Points/USD). Precious metals (XAUUSD) long swaps are -35.721 (Points/USD), and 25.801 (Points/USD) for the short ones respectively. However, remember, that swaps fees might change, and it is important that traders research them beforehand.

How Competitive Are Doo Prime Fees?

Based on our research we found that Doo Prime fees are rather competitive, but real rates and quotes we see on our tests are in line with the market average, starting from 1 pips. However, we also noticed that the broker does not provide fixed transaction/commission fees for its commission-based account as it vary based on the entity rules and instrument traded, and traders should find that out by contacting their account manager. All the additional fees, too, might be subject to earlier specifications, to avoid unexpected and extra costs after engaging with the broker.

Doo Prime Additional Fees

In addition to the already mentioned main costs, traders should also consider some additional fees Doo Prime charges. While the broker does not have internal fees for deposits or withdrawals, the broker warns about external fees depending on the payment method or bank. For deposits above $1,000 through wire transfer, Doo Prime has a reimbursement policy for intermediary bank fees. Also, note that Conversion fees may be applied for transactions conducted in a currency that differs from the account’s base currency.

For those who engage in Copy Trading with the broker, there is a performance fee applied, which means that traders pay a certain amount of remuneration to the signal sources they subscribe to, yet it is a typical conditions all Copy Trading Platforms apply.

Trading Platforms and Tools

Score – 4.6/5

Doo Prime clients have a selection of trading platforms to conduct their trades, including the industry-popular MT4/MT5 platforms, TradingView, the broker’s proprietary InTrade mobile platform, and the FIX API 4.4, ideal for professional or institutional traders. All the platforms are available via web, mobile, and desktop, giving traders flexibility and ease of use.

Doo Prime Web Platform

Doo Prime provides its traders with several web-based trading platforms that suit different trading styles and experience levels, from the well-established MT4 and MT5 to TradingView‘s robust charting features and social trading options all right from you browser. In fact, TradingView enables users to build complex technical analyses with functions such as custom alerts, smart drawing tools, and access to Pine Scripts for personalized strategies.

Main Insights from Testing

We found the broker’s web platforms intuitive and easy to use, with neat layouts, and easy navigation, which is especially suitable for beginners, especially the TradingView and MT4 platform, while the MT5 web platform provides more analytical tools and advanced features excellent for experienced traders. All in all, the Doo Prime web platform provides traders with a consistent trading experience, simple, yet equipped with advanced features favorable for profitable and hassle-free trading. 

Doo Prime Desktop MetaTrader 4 Platform

The broker’s MT4 platform provides a first-class trading experience by combining advanced technical analysis and an all-rounded trading system. The platform offers many advanced features and typicall tools like pending orders, stop orders, and trailing stops. There is powerful analysis, including analysis of price volatility, and helps to strategize the trades ahead with nearly 3,000 indicators, 24 analysis objects, and customizable exclusive dynamic charts.

Besides, traders can advantage of automated trading and execute the orders via Doo Prime MT4’s dedicated VPS trading server. In addition, the MT4 desktop platform enables traders to adjust their trading strategies through backtesting to achieve the best trading decisions. At last, the MQL4 traders can develop a fast and efficient programming language for automatic trading with essential functions for analysis, and fundamental technical indicators.

Doo Prime Desktop MetaTrader 5 Platform

By downloading the Doo Prime MT5 desktop version through Windows or MacOS, traders gain access to currencies, stocks, futures, and other financial products. The platform enables traders to explore and create custom indicators or access up to 80 technical indicators and analysis tools in 21 timeframes. Also, there are 100+ charts available for identifying trends in the market, comprehensive technical analysis, copy trading, EAs, 44 graphical objects, and ultra-fast execution of trades.

Doo Prime In Trade Platform

Doo Prime InTrade is a proprietary trading platform that provides great trading experience across various devices, including mobile phones and tablets. The platform seamlessly integrates with MT4 and MT5, allowing traders to manage their accounts, execute trades, and monitor market movements in real-time. It enables access to a diverse range of trading products and supports thousands of stocks, futures, CFD products, and other transactions around the world. The platform enables comprehensive real-time trading data, including symbols, order types, volumes, and open prices. The ultra-fast execution speed is 0.05 seconds with trading as low as 0.0 spreads and no slippage points.

Doo Prime MobileTrader App

Doo Prime Mobile app supports MT4/MT5 and the InTrade platforms, enabling traders to get real-time market data and charts, push notifications, and price alerts. Especially the proprietary platform InTrade is specifically optimized for mobile devices, giving flexibility and access to the market just under the fingertips. With its simplicity, clear interface, and ease of navigation, the mobile app is an ideal solution for both beginner and professional traders who want to access the market at all times.

Main Insights from Testing

The Doo Prime MobileTrader app brings perfect trading to both Android and iOS users, at the same time preserving  all the essential capabilities of the desktop platforms, with access to real-time market data, advanced charting tools, technical indicators, and customized notifications. Yet, traders should consider that there might still be certain limitations compared to the desktop platform.

Trading Instruments

Score – 4.7/5

What Can You Trade on Doo Prime’s Platform?

The Broker provides access to a very wide range of trading products, such as Forex, CFDs, Securities, Futures, Precious Metals, Commodities, and Stock Indices, with access to more than 10,000 CFDs. We found that the broker enables traders to diversify their portfolios and is great for traders looking extensive range of Trading products, allowing to participate in various markets according to needs. Doo Prime offers more than 60 popular currency pairs, 300+ featured US and Hong Kong stocks CFDs, and other popular instruments.

• However, the availability of specific trading instruments may vary based on the entity or jurisdiction you are trading with.
• Besides, the available leverage ratio is also varying depending on the instrument and entity regulations applied, ranging up to 1:1000.

Main Insights from Exploring Doo Prime’s Tradable Assets

Doo Prime enables users to experience a wide range of trading tools, fitted to all styles of trading and strategies. More than 10,000 financial products are available for traders across six major asset classes, including forex, precious metals, commodities, indices, and stocks.

Besides, Doo Prime offers CFDs on international stock indexes, more than 300 US and Hong Kong-listed stocks. Doo Prime gives traders opportunities to good diversification of their portfolios and explore the market. So overall range is good and much better than majority of Brokers, yet still there are some Brokers like FP Markets who offer even wider selection.

Leverage Options at Doo Prime

Leverage is a useful tool that enables traders to enter the market with limited capital. However, its use can lead to substantial profits or losses as well. As such, you should have a comprehensive understanding of how multiplier works and its possible consequences before engaging in any trading activities that involve leverage.

Doo Prime leverage is offered according to FSC, SEC, FINRA, FCA, ASIC, and FSA regulations:

• International traders may use higher leverage of up to 1:1000, so understanding the implications and risks associated with leverage is crucial before making decisions about its use in trading.
• US traders may use a maximum of up to 1:50 for major currency pairs.
• UK traders are eligible to use low leverage up to 1:30 for major currency pairs.
• The traders that hold ASIC-regulated accounts are entitled to up to 1:30.

Deposit and Withdrawal Options

Score – 4.7/5

Deposit Options at Doo Prime

According to our research, the broker offers more than 20 payment options for instant deposits of funds into trading accounts including the following:

• bank and wire transfers
• credit/debit cards
• Skrill
• Neteller
• Epay
• Apple Pay
• Google Pay
• fasapay
• epay

Doo Prime Minimum Deposit

To open a live trading account with the broker, there is 0$ for the Cent accounts, only $1 for the STP account, and $100 for the ECN accounts.

• However, certain funding methods may have specific requirements, and there might be additional fees applied by third parties.

Withdrawal Options at Doo Prime

Doo Prime offers two withdrawal options, international wire transfer, and local bank transfer. For International wire transfers, the available currency is USD, EUR, or GBP. For the local bank transfers the available currency is CNY, THB, VND, IDR, and JPY. The currency for the e-wallets is USD, and the processing time of the withdrawals is 1 working day. While range is rather limited these are in fact more common and safe methods most of traders use, also funding options aligned with entity rules alike.

Customer Support and Responsiveness

Score – 4.7/5

Testing Doo Prime’s Customer Support

The broker offers 24/7 customer support via phone, live chat, email, and social media channels. Also, the support team includes account managers who are available to assist with technical support, provide analysis recommendations, address general inquiries, and help resolve operational issues. Besides, the broker also has a Help Center, where traders can find many trading-related topics and answers to their common questions.

Contacts Doo Prime

All in all, Doo Prime provides quality multilingual support. Several contact methods, such as live chats, emails, and phone lines are available:

• The Live Chat has 24/7 availability right from the Doo Prime website, providing instant answers.
• Telephone support is available 24/7: +61 2 9128 0800 (Global clients),  +86 400 666 0143 (Asia – China), +84 28 4458 2674 (Asia – Vietnam), +66 020260620 (Asia – Thailand), +82 0234837246 (Asia – Korea).

Research and Education

Score – 4.2/5

Research Tools Doo Prime

Doo Prime offers traders several research tools to aid market analysis and the making of informed decisions. Despite  Doo Prime MT4 and MT5 trading platforms being fully equipped with research and trading functionality, traders can also use additional tools to enhance their trading strategies. Among them is the Trading Calendar, a useful tool that keeps clients updated about the market movements and provides global market closing dates, trading product information, etc. 

• Besides, Doo Prime has a Trading Central, where traders can get Analyst Views, providing the latest professional analysis, allowing traders to uphold their trading decisions with various benchmarks and strategies from real-time charts. Through Trading Central, clients get consistent updates on the opinions of senior analysts, to assist traders in creating orders based on the prices provided by the analysts.

Education

At present, Doo Prime offers a blog section, where traders can find various educational articles, market news, insights, analysis, and updates on significant market developments. Also, in its Help Center Doo Prime provides answers to some of the basic topics and trading-related common questions. However, Doo Prime’s education lacks in-depth courses or beginner-friendly educational content. Instead, the available learning materials are better suited as supplementary resources, primarily designed for traders with some experience or an understanding of trading concepts.

• Doo Prime falls short in providing educational and research materials, seminars, or webinars to its clients. This limited access to educational resources could be viewed as a disadvantage for traders who value extensive learning materials to improve their skills and knowledge in the financial markets.

Is Doo Prime a good broker for beginners?

Doo Prime has a demo account that is great for new traders who need to practice trading before engaging in real trading with real funds. However, besides the demo account and a few basic educational materials, the broker does not provide extensive resources with courses, webinars, glossaries, and other important learning materials that would support beginners precisely. Thus, new traders need to find a broker with a better educational offering or look for additional education somewhere else.

Portfolio and Investment Opportunities

Score – 4/5

Investment Options Doo Prime 

Doo Prime primarily offers FX and CFD products and does not provide any long-term and traditional investment options, such as real stocks, bonds, etc. However, Doo Prime does offer certain investment opportunities which include the following:

• Doo Prime offers Social Trading to its clients, enabling traders to choose an account to follow and replicate all trades automatically. It is ideal for those with limited market knowledge who want to benefit from professional expertise.
• Also, Doo Prime has a PAMM account that is suitable for both investors and professional traders to connect and benefit from collective trading expertise. The PAAM account offers detailed performance reports to help investors monitor their accounts and the Manager’s trading activity.

Account opening

Score – 4.5/5

How to open Doo Prime Demo Account?

Opening a Demo account with the broker is a quick and straightforward process. The broker offers a demo option for only two of its account types – STP and ECN. Here are the steps to follow for starting:

• Log in to the Client Portal
• Click on the “Accounts” menu and select “Open a Demo Account”
• Choose the preferred settings, including the account type, platform, leverage, currency, initial balance, etc.
• Finalize the registration and receive account details via email or the Client Portal
• Sign in and explore the market

How to open a Doo Prime Live account?

To open a Doo Prime live account clients need to complete a few simple steps and provide the necessary documents required:

• Enter into the Client Portal
• Click on the “Accounts” menu and select “Open a Live Account”
• Select the preferred settings
•  Confirm your choice and the account will be automatically created.
• Verify Your Identity by providing a passport, National ID, or Driver’s License
• Receive the account log-in details on the Client Portal or via email

Additional Tools and Features

Score – 4.2/5

We also found a few additional features Doo Prime provides to enhance trading performance and open more opportunities to advanced, and innovative experiences.

• FIX API is a set of clearly defined rules to effectively exchange trading information and transfer financial data with other servers. Clients can directly access FIX API by holding a live Doo Prime account and depositing 50,000 USD or more. It grants brokers and companies access to automatic exchange and hedging currency pairs. Also diversifies trading, provides customized trading procedures, and up to 250 quote updates per second.

• FOLLOWME Social trading grants access to the community of 730.000 active users, 170+ countries and regions, with more than 58 Million orders. It encourages global trading experts to connect and share trading strategies within the community. It has many functions that support traders with content collection for the entire network in the industry, including CFD trading and margin trading, connection with 3,000 brokers, delivery of millions of real-time visual statistical analyses, and trade history data, with accurate backtesting of net value fluctuations.

• The VPS trading of Doo Prime is equal to a virtual computer running independently 24 hours a day so that the connection time between the virtual platform and the broker’s server can reach 99.99%, allowing expert advisors to run uninterrupted. During market fluctuations, VPS provides traders with a stable trading environment, excluding obstacles such as computer viruses and power outages.

Doo Prime Compared to Other Brokers

Doo Prime offerings are mainly in-line with the industry standards, enabling traders to immerse into a safe, tightly-regulated trading environment. The broker’s fee structure is quite transparent, with an average of 1 pips. In comparison, brokers like Exness offer much lower spreads just from 0.2 pips. For its low deposits starting just from $0 funding, Doo Prime is excellent for those who choose to start small, in comparison to IC Markets with $200 initial deposit.

The Instrument offering is also quite large with access to 6 asset types with over 10.000 available instruments, offering considerably more diversity than AvaTrade with its 250+ instruments. The multilingual Customer support is also very good, providing clients with instant answers. The only aspect that actually is behind such brokers as XM or FBS is the limited educational resources, which makes the broker not very suitable for beginners, who look for extensive education and research tools.

Full Review of Broker Doo Prime

We concluded that Doo Prime is a Forex trading company with favorable and diverse offerings, including a wide range of trading instruments (10.000+), competitive fees that are in line with the market average, access to MT4/ MT5, TradingView, and its proprietary platform InTrade. What we found great about Doo Prime is its $0 initial funding opportunity and the dedicated customer support available 24/7 via various options. However, the broker has limited educational resources and research materials, which may not be ideal for beginner traders.

Doo Prime also has some additional features to enhance the trading experience of traders, it also provides Social and Copy trading opportunities and access to PAAM accounts. All in all the broker is a good solution for those who prioritize diversity and advanced trading.