Doo Prime
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| Leverage | 1:500 |
| Minimum Deposit | $100 |
| Regulation | FCA, ASIC, VFSC |
| Year Established | 2014 |
| Payment Methods | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, Cryptocurrencies |
| Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Very Low |
| Average cost: EUR/USD | 0.3 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Contact Information | Email: [email protected], Phone: +44 20 8123 9088 |
| Address | 55 Baker Street, London, W1U 7EU, United Kingdom | Rating | ★★★★☆ 4.5 |
| Website |
Pros and Cons
- Wide range of trading instruments
- Competitive spreads
- Multiple regulatory bodies
- Comprehensive customer support
- Advanced trading platforms
- Higher leverage can increase risk
- Limited educational resources
- No ZuluTrade integration
- Withdrawal process can be slow
- Occasional platform downtimes
Introduction
Doo Prime is a well-known online trading broker that has garnered attention for its innovative platform, diverse trading instruments, and strong regulatory framework.
This detailed review will provide an in-depth analysis, focusing on its background, regulatory status, trading platforms, account types, fees, customer service, and more.
This comprehensive guide is designed to help both novice and intermediate traders make an informed decision about using Doo Prime as their trading broker.
Create a Free AccountBackground and Overview
Company History
Doo Prime was established in 2014 and is part of the Doo Group, which provides a wide range of financial services globally.
The broker’s headquarters are in London, United Kingdom, with additional offices in Hong Kong, Malaysia, and the United States.
Over the years, the company has expanded its services and enhanced its platform to cater to the needs of traders worldwide.
The company’s mission is to deliver high-quality trading services and innovative financial solutions to its clients.
Mission and Vision
Doo Prime aims to empower traders by providing cutting-edge technology, comprehensive trading tools, and exceptional customer service.
The broker’s vision is to become a leading global financial services provider, recognized for its reliability, innovation, and client-centric approach.
Regulation and Safety
Regulatory Bodies
Doo Prime is regulated by several reputable financial authorities, ensuring a high level of security and transparency for its clients.
These regulatory bodies include:
- Financial Conduct Authority (FCA) in the United Kingdom
- Australian Securities and Investments Commission (ASIC)
- Vanuatu Financial Services Commission (VFSC)
These regulations require the company to adhere to strict standards of financial integrity, customer protection, and operational transparency.
Client Fund Protection
To ensure the safety of client funds, it implements several measures:
- Segregated Accounts: Client funds are kept separate from the company’s operational funds, minimizing the risk of misuse.
- Negative Balance Protection: This feature prevents clients from losing more money than they have deposited, providing a safety net against volatile market movements.
- Investor Compensation Schemes: In regions where applicable, it participates in investor compensation schemes, offering an additional layer of protection.
Trading Platforms
Doo Prime offers two of the most widely recognized trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4)
MT4 is renowned for its user-friendly interface, robust functionality, and extensive range of tools.
Key features include:
- Advanced Charting: Comprehensive charting tools with multiple timeframes and technical indicators.
- Automated Trading: Support for Expert Advisors (EA), enabling automated trading strategies.
- Mobile Trading: Accessible via mobile devices, allowing traders to manage their accounts on the go.
MetaTrader 5 (MT5)
MT5 builds upon the foundation of MT4, offering additional features and enhancements:
- Expanded Asset Classes: Supports trading in a broader range of assets, including stocks and commodities.
- Improved Charting Tools: More timeframes, indicators, and graphical objects compared to MT4.
- Economic Calendar: Integrated economic calendar providing real-time updates on market events.
Platform Comparison
| Feature | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Asset Classes | Forex, Indices, Commodities | Forex, Indices, Commodities, Stocks |
| Charting Tools | Advanced | Enhanced |
| Timeframes | 9 | 21 |
| Technical Indicators | 30 | 38 |
| Expert Advisors (EAs) | Yes | Yes |
| Mobile Trading | Yes | Yes |
| Economic Calendar | No | Yes |
Account Types
Doo Prime offers various account types to cater to different trading needs and experience levels.
These accounts include:
Standard Account
The Standard Account is designed for retail traders and offers:
- Minimum Deposit: $100
- Leverage: Up to 1:500
- Spreads: Floating, starting from 1.0 pips
- Commission: None
- Platform Access: MT4 and MT5
ECN Account
The ECN Account is tailored for more experienced traders seeking tighter spreads and faster execution:
- Minimum Deposit: $500
- Leverage: Up to 1:500
- Spreads: Floating, starting from 0.0 pips
- Commission: $7 per round turn lot
- Platform Access: MT4 and MT5
VIP Account
The VIP Account offers premium features for high-volume traders:
- Minimum Deposit: $10,000
- Leverage: Up to 1:400
- Spreads: Floating, starting from 0.0 pips
- Commission: $5 per round turn lot
- Platform Access: MT4 and MT5
- Dedicated Account Manager: Personalized support for VIP clients
Account Comparison
| Feature | Standard Account | ECN Account | VIP Account |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | $10,000 |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:400 |
| Spreads | Floating, from 1.0 pips | Floating, from 0.0 pips | Floating, from 0.0 pips |
| Commission | None | $7 per round turn lot | $5 per round turn lot |
| Platform Access | MT4, MT5 | MT4, MT5 | MT4, MT5 |
| Dedicated Account Manager | No | No | Yes |
Trading Instruments
Doo Prime provides access to a wide range of trading instruments, enabling clients to diversify their portfolios.
The available asset classes include:
Forex
Forex trading is one of the most popular offerings, with over 60 currency pairs available.
These include major, minor, and exotic pairs, allowing traders to take advantage of various market conditions.
- Currency Pairs: Over 60 major, minor, and exotic pairs
- Spreads: As low as 0.0 pips for ECN accounts
- Leverage: Up to 1:500
Indices
Doo Prime offers trading in a wide set of global indices, providing exposure to major economies around the world.
- Global Indices: Major indices from the US, Europe, and Asia
- Spreads: Competitive floating spreads
- Leverage: Up to 1:200
Shares
Trading shares allows clients to invest in major international companies across various sectors.
- Stocks: Access to major international stocks
- Spreads: Market-dependent
- Leverage: Up to 1:20
Commodities
Doo Prime offers trading in both hard and soft commodities, providing opportunities to hedge against inflation and diversify portfolios.
- Precious Metals: Gold, silver, and more
- Energy Products: Oil, natural gas, etc.
- Leverage: Up to 1:100
Cryptocurrencies
Cryptocurrency trading has gained significant popularity, and the broker offers a selection of the most traded digital assets.
- Digital Assets: Bitcoin, Ethereum, and other popular cryptocurrencies
- Spreads: Floating spreads
- Leverage: Up to 1:5
Fees and Costs
Understanding the fee structure is crucial for evaluating the overall cost of trading.
The broker maintains a transparent fee policy with the following components:
Spread
- Standard Account: Spreads start from 1.0 pips
- ECN Account: Spreads start from 0.0 pips
- VIP Account: Spreads start from 0.0 pips
Commission
- Standard Account: No commission
- ECN Account: $7 per round turn lot
- VIP Account: $5 per round turn lot
Deposit and Withdrawal Fees
Doo Prime does not charge fees for deposits or withdrawals.
However, third-party charges from banks or payment processors may apply.
Swap Fees
Swap fees are applicable for positions held overnight. These fees vary based on the asset and market conditions.
Detailed Fee Comparison
| Fee Type | Standard Account | ECN Account | VIP Account |
|---|---|---|---|
| Spread | From 1.0 pips | From 0.0 pips | From 0.0 pips |
| Commission | None | $7 per round turn lot | $5 per round turn lot |
| Deposit Fees | None | None | None |
| Withdrawal Fees | None | None | None |
| Swap Fees | Yes | Yes | Yes |
Customer Service and Support
Customer service is a critical component of a reliable brokerage, and this broker offers comprehensive support through multiple channels:
Contact Methods
- Email: [email protected]
- Phone: +44 20 8123 9088
- Live Chat: Available on the website
- Social Media: Active presence on Facebook, Twitter, LinkedIn, and Instagram
Availability
- 24/5 Support: Customer service is available 24 hours a day, five days a week, aligning with market hours.
Multilingual Support
The company offers support in multiple languages, including English, Chinese, and Malay, catering to a diverse client base.
Customer Service Quality
Doo Prime has received positive feedback for its customer service quality.
Clients appreciate the prompt and professional responses they receive from the support team.
The broker’s commitment to providing excellent customer service is evident in the way they handle inquiries and resolve issues efficiently.
Educational Resources
While Doo excels in many areas, its educational resources are partially limited compared to other brokers.
The available materials include:
Webinars and Seminars
The broker occasionally hosts webinars and seminars covering various trading topics and market analysis.
These events are designed to educate traders on market trends, trading strategies, and the use of the platform.
Market Analysis
Regular market updates and analysis are provided on the website, offering insights into market trends and potential trading opportunities.
This information is valuable for traders looking to stay informed about the latest market developments.
Trading Guides
Basic trading guides are available to help beginners understand the fundamentals of trading and the use of the platforms.
These guides cover topics such as how to open and close trades, how to use technical indicators, and how to manage risk effectively.
Research Tools
Doo Prime provides a range of research tools to assist traders in making informed decisions:
Economic Calendar
An integrated economic calendar keeps traders informed of key economic events and their potential impact on the markets.
This tool is essential for traders who need to stay updated on important announcements and data releases.
Technical Analysis
Comprehensive technical analysis tools are available on the MT4 and MT5 platforms, including indicators, charting tools, and pattern recognition.
These tools help traders analyze market trends and make informed trading decisions.
Market News
Doo Prime offers up-to-date market news and analysis, helping traders stay informed about market developments and trends.
This information is crucial for traders who rely on fundamental analysis to guide their trading strategies.
Account Opening Process
The account opening process is straightforward and user-friendly:
Registration
- Online Form: Complete the online registration form with personal details.
- Verification: Submit identification documents for verification (e.g., passport, utility bill).
- Approval: Accounts are typically approved within 24 hours.
Funding
Once the account is approved, clients can fund their accounts using various payment methods, including bank transfer, credit/debit cards, PayPal, Skrill, Neteller, and cryptocurrencies.
Trading
After funding, clients can start trading on the MT4 or MT5 platforms.
The platforms can be accessed via desktop, web, or mobile applications.
Step-by-Step Guide
| Step | Description |
|---|---|
| Step 1: Registration | Fill out the online registration form with your personal details. |
| Step 2: Verification | Submit identification documents for verification. |
| Step 3: Approval | Wait for account approval, usually within 24 hours. |
| Step 4: Funding | Fund your account using the preferred payment method. |
| Step 5: Start Trading | Access the trading platform and begin trading. |
Mobile Trading
Doo Prime offers robust mobile trading solutions through the MT4 and MT5 mobile apps:
Features
- Real-time Quotes: Access real-time price quotes for all available instruments.
- Charting Tools: Advanced charting tools with multiple timeframes and indicators.
- Order Management: Full control over orders, including placing, modifying, and closing trades.
- Account Management: Monitor account balance, equity, and margin.
Compatibility
- iOS: Available on the App Store for iPhone and iPad.
- Android: Available on Google Play for Android devices.
Mobile Trading Experience
The mobile trading experience is seamless and efficient.
The apps are well-designed, offering a user-friendly interface that allows traders to manage their accounts and execute trades from anywhere.
The real-time quotes and advanced charting tools ensure that traders have access to the same features as the desktop versions.
Promotions and Bonuses
Doo Prime occasionally offers promotions and bonuses to attract new clients and reward existing ones.
These promotions may include:
Welcome Bonus
New clients may receive a welcome bonus upon opening and funding their account.
This bonus is designed to provide an initial boost to the trading capital.
Deposit Bonus
A bonus on deposits is sometimes offered, increasing the trading capital available to clients.
This bonus can be a percentage of the deposited amount and is credited to the trading account.
Referral Program
Clients can earn bonuses by referring friends and family.
The referral program rewards both the referrer and the referee, making it an attractive incentive for clients to promote the broker.
Detailed Promotion Information
| Promotion Type | Description |
|---|---|
| Welcome Bonus | New clients receive a bonus upon opening and funding their account. |
| Deposit Bonus | A bonus percentage on deposits, increasing the trading capital. |
| Referral Program | Bonuses for both the referrer and the referee upon successful referrals. |
Conclusion
Doo Prime is a well-regulated and reputable broker offering a comprehensive range of trading instruments, advanced platforms, and competitive trading conditions.
Its regulatory status and commitment to client fund protection provide a secure trading environment.
The availability of both MT4 and MT5 platforms ensures that traders have access to robust and reliable trading tools.
While their educational resources could be more extensive, its strong customer support, transparent fee structure, and diverse account types make it an excellent choice for both novice and experienced traders.
The broker’s focus on providing a seamless trading experience, combined with its global reach, positions Doo as a leading choice in the online trading industry.
In summary, it stands out as a reliable and innovative broker that caters to the needs of a diverse client base.
Its commitment to transparency, security, and customer satisfaction makes it a top contender in the competitive world of online trading.
Whether you are a beginner looking to start your trading journey or an experienced trader seeking advanced features and competitive conditions, Doo Prime has the tools and resources to support your trading goals.
Visit official website:www.dooprime.comFAQ
What is the minimum deposit required to open an account?
The minimum deposit required to open an account is $100.
Is Doo Prime regulated?
Yes, the company is regulated by multiple regulatory bodies including FCA, ASIC, and VFSC.
What payment methods does it accept?
Doo Prime accepts Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, and Cryptocurrencies.
Does it offer a demo account?
Yes, Doo Prime offers a demo account for traders to practice and familiarize themselves with the platform.
Are there any fees for deposits or withdrawals?
No, Doo Prime does not charge any fees for deposits or withdrawals.
Can I trade cryptocurrencies?
Yes, it offers trading in cryptocurrencies along with other assets such as Forex, Indices, Shares, and Commodities.
Does the broker provide customer support?
Yes, it provides comprehensive customer support through email and phone.
Resources
User Reviews
Article written, edited and reviewed by
Adam Rosen
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Last updated: September 5, 2024
