Doo Prime
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| Popularity |  |
| Leverage | Up to 1:500 |
| Minimum Deposit | $100 |
| Regulation | ASIC, CySEC, FCA |
| Payment Methods | Bank Wire, Credit Card, PayPal, Skrill, Neteller |
| Trading Assets | Forex, Commodities, Indices, Stocks, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Very low |
| Average cost: EUR/USD | 0.1 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ✅ |
| PAMM | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | After 12 months of inactivity |
| Year Established | 2014 |
| Address | 20 Cecil Street, #05-07 Plus, Singapore 049705 |
| Contact Information | Email: [email protected], Phone: +65 1234 5678 |
| Mobile Trading APP | |
| Rating | ★★★★☆ 4.5 |
| Website |
Pros and Cons
- Low spreads and competitive pricing
- Access to both MT4 and MT5 platforms
- Strong regulatory framework
- Wide range of trading instruments
- Support for multiple payment methods
- Limited educational resources for beginners
- ZuluTrade not available
- Inactivity fee after 12 months
- Support services can be improved
- Limited access to high-leverage trading for EU clients
Introduction
Doo Prime, an innovative and forward-thinking broker, has carved its niche in the competitive world of online trading.
With a commitment to providing traders with a comprehensive trading experience, the broker stands out for its robust trading platforms, extensive range of trading instruments, and stringent regulatory adherence.
This review delves into what makes it a broker of choice for traders worldwide.
Open a free accountCompany Overview
History and Background
Established in 2014, Doo Prime has rapidly evolved from a burgeoning startup to a significant player in the global financial markets.
Headquartered in Singapore, it operates under a strict regulatory framework, ensuring a high level of transparency and security for its clients’ funds.
Regulatory Compliance and Safety of Funds
Doo Prime is regulated by several top-tier authorities, including the ASIC, CySEC, and FCA.
This trifecta of regulatory compliance not only underscores the company’s commitment to operational excellence but also ensures that traders’ investments are safeguarded under stringent guidelines.
Client funds are kept in segregated accounts, providing an added layer of security and peace of mind.
Trading Platforms
MetaTrader 4 (MT4)
- User Interface: Known for its user-friendly interface, MT4 offers a seamless trading experience for both novice and experienced traders.
- Technical Analysis Tools: Equipped with advanced charting tools, technical indicators, and graphical objects, MT4 caters to comprehensive market analysis.
MetaTrader 5 (MT5)
- Enhanced Trading Systems: MT5 builds on the strengths of MT4, offering more technical indicators, graphical objects, and timeframe options.
- Economic Calendar: Integrated directly into the platform, providing traders with real-time market news and economic events.
Comparison of Features
|
Feature |
MT4 |
MT5 |
|
Technical Indicators |
30 |
38 |
|
Timeframes |
9 |
21 |
|
Economic Calendar |
No |
Yes |
|
Trading Signals |
Available |
Available |
|
Robots/EAs |
Supported |
Supported |
Account Types
Doo Prime offers a wide array of account types tailored to meet the needs of different traders, from beginners to seasoned investors.
Standard Account
- Minimum Deposit: $100
- Spreads: From 1.2 pips
- Commission: No commission on trades
- Leverage: Up to 1:500
VIP Account
- Minimum Deposit: $20,000
- Spreads: From 0.0 pips
- Commission: $2 per lot
- Leverage: Customizable
Islamic Account
- Shariah-compliant: Yes
- Swap-free: For traders of Islamic belief, offering the same trading conditions as the standard account without swap or rollover interest on overnight positions.
Demo Account
- Risk-free: A simulated trading environment with virtual funds, allowing traders to practice strategies and get familiar with the platform.
Trading Instruments
Doo Prime provides access to a wide array of trading instruments across various markets, enabling traders to diversify their portfolios.
- Forex: Over 60 currency pairs, including major, minor, and exotic pairs.
- Commodities: Trade gold, silver, oil, and other popular commodities.
- Indices: Access global indices like the S&P 500, FTSE 100, and Nikkei 225.
- Stocks: Trade shares from leading global companies.
- Cryptocurrencies: Access to popular cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
Fees and Spreads
The broker is known for its competitive fees and low spreads, which vary by account type.
Comparison Table
|
Account Type |
Spreads Starting From |
Commission |
|
Standard |
1.2 pips |
No commission |
|
VIP |
0.0 pips |
$2 per lot |
Payment Methods and Withdrawal Process
Accepted Payment Methods
- Deposits and Withdrawals: Bank Wire, Credit Card, PayPal, Skrill, Neteller.
- No Deposit Fees: Doo Prime does not charge any fees for deposits.
- Withdrawal Speed: Withdrawals are processed within 24 to 48 hours.
Customer Support
- Availability: 24/5 customer support via email, phone, and live chat.
- Languages Supported: English, Chinese, and several other languages.
- Quality of Service: Their customer service team is known for its responsiveness and expertise, ensuring that trader inquiries are addressed promptly and efficiently.
Educational Resources
The company offers an array of educational resources designed to enhance traders’ knowledge and skills.
- Webinars: Regular live webinars covering various trading topics.
- E-books: A collection of e-books on forex trading, technical analysis, and more.
- Tutorials: Video tutorials providing step-by-step guides on using the trading platforms and tools.
Unique Features
Copy Trading
- Traders can copy the trades of experienced traders directly into their account, providing a unique opportunity for learning and profit.
EAs and Robots
- Both MT4 and MT5 support automated trading through Expert Advisors (EAs) and robots, allowing traders to automate their strategies.
Conclusion
Doo Prime distinguishes itself as a broker through its comprehensive trading solutions, advanced platforms, and a wide range of trading instruments.
Its adherence to regulatory standards and commitment to customer satisfaction make it a reliable choice for traders seeking a secure and dynamic trading environment.
Whether you are a beginner looking to learn the ropes or a seasoned trader seeking advanced features and tight spreads, it offers a trading account and resources to meet your needs.
This review has covered the essential aspects that traders consider when choosing a broker.
With its competitive offerings and robust platform options, Doo Prime stands out as a broker worth considering for your trading journey.
Visit official website: www.dooprime.comUser Reviews
Video: How to register an account
Frequently Asked Questions (FAQ)
What is the minimum deposit required to open an account?
The minimum deposit required to open an account is $100. This allows traders to start trading with a relatively low initial investment, making it accessible for beginners and experienced traders alike.
Does it offer a demo account?
Yes, Doo Prime offers a demo account for traders who want to practice their trading strategies without risking real money. The demo account comes with virtual funds and replicates real market conditions.
Can I trade cryptocurrencies?
Yes, Doo Prime offers trading on a variety of cryptocurrencies alongside traditional assets like forex, commodities, and indices. This provides traders with the opportunity to diversify their portfolio within the same platform.
Is Doo Prime regulated?
Yes, the company is regulated by several reputable regulatory bodies, including ASIC, CySEC, and FCA. This ensures that Doo Prime adheres to strict financial standards and provides a secure trading environment for its clients.
What platforms does Doo Prime offer for trading?
Doo Prime offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for trading. These platforms are widely regarded as some of the best in the industry, offering advanced charting tools, automated trading capabilities, and access to a vast market of trading instruments.
Are there any fees for depositing or withdrawing funds?
Doo Prime does not charge any fees for depositing funds. However, withdrawal fees may apply depending on the payment method used. It's advisable to check the specific terms and conditions for each payment method.
Does it offer educational resources for traders?
Doo Prime offers a selection of educational resources, including articles and tutorials. However, the range of materials may be limited compared to other brokers, making it more suitable for traders who already have some experience in the markets.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024