Doo Prime review and ratings

Established 2014
Location Mauritius Vanuatu
Regulation FSC, VFSC
Offices Ebene, Port Vila, Dallas, Hong Kong, Singapore, Kuala Lumpur, Taipei, Ho Chi Minh, Mahe
Broker type STP | ECN
Leverage up to 1:400
Deposit from 100 USD
Spreads low  low
Platforms MetaTrader 4 MetaTrader 5 Specific
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards PayPal UnionPay Bitcoin Ethereum Tether

Company information

Doo Prime group includes 2 related companies.

Doo Prime MU - located in Mauritius, regulated by the Financial Services Commission (FSC).
Doo Prime VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).

Availability

Doo Prime group accepts clients from all over the world, excluding USA, Afghanistan, Austria, Azerbaijan, Belgium, Bosnia and Herzegovina, Bulgaria, Burma, Canada, Congo, Croatia,Cuba, Cyprus, Czech Republic, Denmark, Estonia, Ethiopia, Finland, France, Germany, Greece, Guyana, Haiti, Hong Kong, Hungary, Ireland, Indonesia, Iran, Iraq, Israel, Italy, Japan, Latvia, Lebanon, Lithuania, Luxembourg, Malaysia, Mali, Malta, Netherlands, North Korea, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Sri Lanka, Somalia, Spain, Sudan, Sweden, Trinidad and Tobago, Tunisia, Venezuela.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

35+ Currency Pairs Based on major and minor world currencies.
7 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, EOS, UST.
11 Indice Cash CFDs Based on baskets of different blue-chip stocks and US Dollar Index.
14 Indice Futures Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
4 Metal Futures Based on Gold, Silver and Copper.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
2 Energy Futures Based on Crude Oil (WTI, Brent).
6 Soft Futures Based on Corn, Soybean, Wheat.
200+ Stock CFDs Based on shares of US and HK companies.

Comprehensive review

Regulated in both Mauritius and Vanuatu, Doo Prime is a global forex and CFD broker that offers trading in nearly all asset classes on the legendary MetaTrader 4 and 5 platforms, as well as on its own web-based InTrade platform. In addition to the two main branches of the broker mentioned above, Doo Prime also has offices under locally registered companies in Hong Kong, Singapore, Malaysia, Taiwan, Vietnam, the Seychelles, the United States and the United Kingdom. Thanks to this global footprint, Doo Prime is able to accept clients from most countries in the world.

A special thing about Doo Prime is the social trading experience it has facilitated through what it calls the “Outrade Trading Community.” This is essentially a web-based platform that allows users to copy the trades made by other traders, while also giving those who are sharing their trades a change to earn commissions for doing so. Further, the broker also makes a leaderboard of the platform’s top traders public on its website, giving everyone the chance to see and copy these top performing traders.

As far as trading instruments goes, Doo Prime should have most traders covered with its very wide selection of instruments across multiple asset classes. This includes more than 35 major and minor forex pairs, various cryptocurrencies, precious metals and a number of other commodities, stock indices, and individual US-listed stocks - all traded in the form of leveraged CFDs.

As always with forex brokers that are registered offshore, trading leverage with Doo Prime can be set quite high for users. At the time of this review, the maximum leverage is 1:400 on the most liquid currency pairs, 1:100 on precious metals, and 1:20 on individual shares. Although this is slightly lower than the 1:500 maximum leverage we sometimes see at other brokers, it should still be more than enough for most traders to make sizable gains (and losses) with even small amounts of available capital.

Before signing up with Doo Prime, new clients will have to choose whether to open an ECN (electronic communications network) account with commissions on trades and low spreads, or a commission-free STP (straight through processing) account with wider spreads.

As usual, the STP account is the best option for new traders and others who trade with small amounts of money, while larger traders will usually be better off by choosing the ECN account. With Doo Prime, the ECN account is known as the “Quantum Account,” and the STP account is called the “Classic Account.”

Once registered with either a STP or ECN trading account, it’s time to fund it. For STP accounts, the minimum deposit requirement to start trading is just 100 USD, while it is 5,000 USD for the ECN account. As a result of the rather high minimum deposit amount for the ECN account, this account type is obviously out of reach for many ordinary retail traders.

To fund the account, payment methods like international or local bank transfers, China UnionPay cards, PayPal, and cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) are all available.

For customer service needs, Doo Prime can be contacted via local phone numbers in the UK, Hong Kong and China, as well as via online live chat, the Chinese messaging app WeChat, and email. Unfortunately, the broker has not disclosed its support team’s working hours, which makes us doubt whether 24 hour support is really available here.

In summary, we can see how Doo Prime appears to be an attractive option for traders interested in CFD and forex trading with high leverage. It is perhaps especially attractive for traders based in one of the countries where the broker has a local support team, such as China. Further, this could also be an interesting broker to trade with for EU-based traders who need to use offshore-registered brokers in order to avoid the strict regulations on trading leverage in Europe, and who are happy to trade on either the MT4, MT5 or InTrade platforms.

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