Doo Prime Forex broker review — Everything you need to know

Doo Prime is the company’s trade name, which is a group of several companies with similar names registered in several offshore jurisdictions. The broker has been around since 2018 and offers CFD trading experience on advanced platforms via several different trading accounts.

Let’s review Doo Prime in more detail and conclude how reliable it is after analyzing its safety, spreads, commissions, accounts, platforms, assets, leverage, support, profit withdrawal policy, and more.

Doo Prime Overview of the website

The website of Doo Prime has some parts in Chinese, making it difficult to see where it is based and traders need to translate the bottom parts of the page to see where the broker offers its services. Otherwise, the web page is well-ordered and responsive, enabling traders to quickly navigate around to find out about important information about accounts, platforms, assets, and so on. The live chat, built inside the website, requires a phone number and email to start chatting with the support personnel, which is also an inconvenience. The design looks modern and is not crowded with different colors and unnecessary information.

Overall, the website of Doo Prime is satisfactory but still needs some minor improvements to ensure everyone reads some critical information easily.

Doo Prime Safety

Despite being around since 2018, which gives the broker years of experience, Doo Prime is still not licensed, meaning it is an unregulated securities trading company. This is a major red flag, especially because the company is based in Vanuatu where it is relatively easy to get a local license.

The broker, while advertising itself as a safe alternative, lacks segregated accounts. This is because it is not regulated and therefore not required to implement this crucial safety policy.

Doo Prime does offer negative balance protection, meaning traders’ accounts can’t go below zero, which is a crucial policy. This NBP policy applies to the broker’s Cent accounts,

STP accounts (Standard/ECN), and ECN accounts.

Overall, the safety of Doo Prime is questionable due to a lack of regulatory oversight and the possible absence of segregated bank accounts.

Doo Prime Accounts Reviewed

Doo Prime’s approach to account types is very simplistic. The broker offers cent, ECN, and STP accounts. Each of these accounts is fundamentally different from others with its trading conditions like execution model, spreads, commissions, and minimum deposit requirements. Let’s review each of these accounts briefly to evaluate whether the broker is truly competitive in this aspect.

Doo Prime CENT Account

The Cent account is an entry-level account for beginners and traders who want to trade with micro lot sizes. Here are its main specifications:

• Minimum deposit – 0 USD
• Maximum leverage – 1:1000
• Spreads from – 1 pip
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

As we can see, the conditions are very competitive here. For a cent account, this account has a very competitive spread of 1 pip without commissions.

Doo Prime STP Account

The STP account offers standard account trading conditions as it enables commission-free trading and the standard lot is 100,000 units. Here are its main offerings:

• Minimum deposit – 1 USD
• Maximum leverage – 1:1000
• Spreads from – 1 pip
• Commissions – 0 USD
• Minimum lot size – 0.01 lots (1,000 units)

Doo Prime ECN Account

The ECN account is where the broker offers 0 pips spread trading for trading commissions with fast execution speeds. Here main specs for the ECN account:

• Minimum deposit – 100a USD
• Maximum leverage – 1:1000
• Spreads from – 0.0 pips
• Commissions – Unknown
• Minimum lot size – 0.01 lots

The broker does not disclose exact commissions for its zero-spread account, which is a serious drawback and indicates it might be expensive. Overall, the accounts are competitive with low spreads, high leverage, and low minimum deposit requirements.

Deposit and withdrawal options at Doo Prime

The broker accepts several payment methods such as bank wire transfer, PayPal, Epay (Perfect Money, Advcash, Payeer, FasaPay), ThunderXPay, Visa, Mastercard, American Express, UnionPay, and several cryptos.

There are no fees charged for deposits and withdrawals. Deposits are mostly instant while withdrawals take 2=4 business days for processing.

Doo Prime Assets — What can you trade?

Doo Prime allows traders to access diverse markets such as FX pairs, commodities, indices, cryptos, futures, and stock CFDs. The leverage starts at 1:1 and can be up to 1:1000 which is very flexible, allowing traders to select their leverage depending on their preferences. Spreads are also competitive from 1 pip on standard and cent and 0 pips on ECN accounts.

Trading platforms of Doo Prime

Trading platform diversity is stellar at Doo Prime. For an unregulated broker, Doo Prime offers access to a multitude of popular advanced platforms such as MT4, MT5, and TradingView. However, there are other platforms provided as well such as Doo Prime InTrade, which is a custom in-house developed trading platform, enabling access to thousands of assets. Mobile trading is available as well, accessible on Android and iOS devices.

Education at Doo Prime

The broker provides very limited educational resources. There is only one trading blog where traders can find various market news and other similar news pieces. However, it is not useful for complete beginners to start from zero and develop trading skills. As for the tools, there are various market analysis and trading tools such as copy trading accounts, VPS services, and more.

Doo Prime Customer Support

Doo Prime’s customer support experience relies on three main channels including live chat, email, and phone support. The live chat requires users to enter personal information which is lengthy and inconvenient. The website as well as support options are multilingual, available in more than five languages, which is flexible. However, the website presents some parts in Chinese even though English is selected.

Doo Prime bonuses and promotions

The broker offers several promos including bonuses, trader of the month, and many more. To be exact, there are swap-free promotions, GoldBack Rewards, Deposit Bonus, 50% Margin Bonus,

DP Trader of the Month, Doo Prime Trading Super Cup, and Global Explorer- IB Competition.

The deposit bonus provides 25% on deposited funds and traders can get up to 2,000 dollars in a trading bonus. The margin bonus is 50% with up to 5,000 dollars in a tradable margin, which amplifies traders’ position size capabilities.

Overall, Doo Prime offers plenty of bonuses and promotions.

Is Doo Prime your broker? Final verdict

Doo Prime offers high leverage, diverse account types, zero minimum deposit, and multiple advanced trading platforms. However, it is unregulated and lacks transparency on key details like ECN commissions and segregated bank accounts. Bonuses are generous but safety risks are too high to recommend this broker to anyone.

FAQs on Doo Prime broker

Where is Doo Prime based?

Doo Prime is based in multiple offshore jurisdictions, primarily in Vanuatu.

Can you withdraw from Doo Prime?

Yes, withdrawals are available via bank cards, crypto, PayPal, and more, typically processed in 2–4 business days.