- What is Doo Prime?
- Doo Prime Pros and Cons
- Is Doo Prime Safe or a Scam?
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about 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, 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 presents 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. 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.
|Multiregulated brokerage firm||Not comprehensive education and research|
|Trading instruments||Offshore licenses|
|MT4 and MT5|
|Good trading conditions|
|Competitive fees and spreads|
|24/7 customer support|
Doo Prime Review Summary in 10 Points
|🏢 Headquarters||Cayman Islands|
|🗺️ Regulation||FSC, SEC, FINRA, FCA, ASIC, FSA|
|🖥 Platforms||MT4, MT5, Doo Prime InTrade, TradingView, FIX API 4.4|
|📉 Instruments||Forex, CFDs, Securities, Futures, Precious Metals, Commodities, Stock Indices|
|💰 EUR/USD Spread||0.1 pips|
|🎮 Demo Account||Available|
|💳 Minimum deposit||$100|
|💰 Base currencies||USD, EUR, GBP|
|☎ Customer Support||24/7|
Overall Doo Prime Ranking
According to our analysis, Doo Prime offers good trading solutions with competitive fees, which is an advantage for all levels of Forex traders. Additionally, the broker’s extensive selection of financial products presents an appealing proposition to traders.
- Doo Prime Overall Ranking is 7 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry-leading brokers.
|Ranking||Doo Prime||AMP Global||ZFX|
|Advanatges||Trading Conditions||Trading Instruments||Regulation|
Doo Prime Alternative Brokers
Based on a thorough evaluation of several factors such as trading conditions, regulatory compliance, spreads, financial instruments, and user feedback, we have compiled a list of alternative brokers that could be considered as alternatives to Doo Prime.
We found that Doo Prime has received recognition and awards for its services over the years. Below is the screenshot that includes some of these awards.
Is Doo Prime Safe or Scam?
No, Doo Prime is not a scam. The broker 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.
Is Doo Prime Legit?
Yes, Doo Prime is a legit and regulated brokerage firm that follows the necessary regulations for offering Forex trading services.
However, the broker is also regulated and authorized in offshore zones. Therefore, you should conduct your research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy.
See our conclusion on Doo Prime Reliability:
- Our Ranked Doo Prime Trust Score is 7 out of 10 for its reputation and services provided. However, we recommended conducting your research, reviewing customer feedback, and considering personal factors before deciding to engage with the broker.
|Doo Prime Strong Points||Doo Prime Weak Points|
|Funds protection||Trading via offshore zone|
|Account balance protection|
Protection of Trading Activity
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.
However, thoroughly review 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.
Doo Prime Leverage
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 leverage 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.
Per our research, the broker offers Cent, STP, and ECN accounts that might suit the needs of different traders. The initial deposit required for the STP account is $100.
|Fast and easy account opening||None|
|Low minimum deposit|
|Variety of account types|
Opening Doo Prime Trading Account
Opening an account with a broker is quite an easy process, as you can log in and register with Doo Prime within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the “Register” page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by uploading documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.
Doo Prime provides access to a wide range of trading products, such as Forex, CFDs, Securities, Futures, Precious Metals, Commodities, and Stock Indices. We found that the broker enables traders to diversify their portfolios and participate in various markets according to their needs.
However, the availability of specific trading instruments may vary based on the entity or jurisdiction you are trading with.
- Doo Prime Markets Range Score is 8.5 out of 10 for a wide range of trading product selections.
Doo Prime Fees
After examining the broker’s fee offering, we found that the broker provides competitive pricing for its trading services. However, the firm charges for both deposits and withdrawals. Also, additional fees may be incurred during trading activities.
Therefore, carefully review the broker’s fee structure and terms and conditions to gain a comprehensive understanding of the associated charges and their potential impact on trading operations.
- Doo Prime Fees are ranked low or average with an overall rating of 7.8 out of 10 based on our testing and compared to over 500 other brokers.
|Fees||Doo Prime Fees||AMP Global Fees||ZFX Fees|
Based on our test trade, the broker provides competitive tight spreads, with an average spread of 0.1 pips for the EUR/USD currency pair in the Forex market. However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact customer support for detailed information on the spreads they offer for specific instruments and account types.
- Doo Prime Spreads are ranked low with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread lower than the industry average of 1.2 pips and the spreads for other instruments are competitive too.
|Asset/ Pair||Doo Prime Spread||AMP Global Spread||ZFX Spread|
|EUR USD Spread||0.1 pips||0.5 pips||1.3 pips|
|Crude Oil WTI Spread||3||2||2|
Deposits and Withdrawals
According to our research, the broker offers a variety of payment options for traders to instant deposit funds into their trading accounts including bank and wire transfers, credit/debit cards, and e-wallets such as Skrill, Neteller, Epay, etc.
However, certain funding methods may have specific requirements based on the client’s bank or other financial institutions involved.
- Doo Prime Funding Methods we ranked good with an overall rating of 8.5 out of 10. Fees are low, and also you can benefit from various account-based currencies.
Here are some good and negative points for Doo Prime funding methods:
|Variety of funding methods||None|
|Fast digital deposits|
Doo Prime Minimum Deposit
To open a live trading account with the broker, clients need to deposit $100 as an initial deposit amount for STP Accounts. For the Cent Account, the minimum deposit amount is USC 100, and for the ECN Account, it is $5,000.
Doo Prime minimum deposit vs other brokers
||Most Other Brokers
Doo Prime Withdrawals
Based on our analysis, the withdrawal process is both seamless and swift. The broker states that the recommended minimum withdrawal amount is $50.
Withdraw Money from Doo Prime Step by Step:
To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with the requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Traders have access to the popular MetaTrader 4 and MetaTrader 5, as well as TradingView, and FIX API 4.4 while trading at Doo Prime. These platforms are widely recognized for their robust features, user-friendly interface, advanced charting tools, and comprehensive trading capabilities.
- Doo Prime Platform is ranked good with an overall rating of 8.9 out of 10 compared to over 500 other brokers. We mark it as good since it offers advanced MT4 and MT5 trading platforms.
|Platforms||Doo Prime Platforms||AMP Global Platforms||ZFX Platforms|
We found that the broker provides traders with a suite of trading tools to enhance their market analysis and decision-making. From advanced charting tools to risk management features, the platform equips users with the necessary resources for informed trading. The inclusion of TradingView adds an extra dimension, offering a community-driven approach and collaborative tools for comprehensive market analysis.
The broker offers 24/7 customer support via phone, live chat, email, and social media channels. Also, the support team includes trading specialists who are available to assist with technical support, provide analysis recommendations, address general inquiries, and help resolve operational issues.
- Customer Support in Doo Prime is ranked good with an overall rating of 8.5 out of 10 based on our testing. The support team is responsive during working days and weekends, ensuring efficient assistance.
See our find and ranking on Customer Service Quality:
|Phone support, email, live chat||None|
|24/7 customer support|
Doo Prime Education
Finally, the broker 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.
- Doo Prime Education ranked with an overall rating of 6 out of 10 based on our research. For traders seeking comprehensive learning resources, considering other brokers with a more extensive range of educational offerings would be a sensible decision.
Doo Prime Review Conclusion
In conclusion, Doo Prime is a good Forex trading company that offers a diverse range of trading instruments, competitive fees, and access to advanced platforms like MT4, MT5, and TradingView. Another plus is the 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, we found that the broker provides a good trading environment. However, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements, also considering the regulatory environment and potential variations across jurisdictions.
Based on Our findings and Financial Expert Opinions Doo Prime is Good for:
- International traders
- Traders who prefer MT4 and MT5 trading platforms
- CFD and currency trading
- Traders from the US, UK, and Australia
- Professional traders
- STP execution
- Competitive pricing
- EA/Auto trading
- 24/7 customer support
- Good trading tools