Doo Prime Broker Review [year]

Editor’s Verdict

Doo Prime, founded in 2014, is a Chinese-owned, Mauritius and Vanuatu-regulated multi-asset broker offering over 10,000 assets, excellent trading platforms, bonuses, and promotions. I consider Doo Prime a good choice for beginners in the Cent account and for advanced trades in the STP account. My Doo Prime review evaluates the trading conditions to help you decide if Doo Prime is the right broker for you.

Overview

Doo Prime offers a well-balanced asset selection and 24/7 customer support.

Doo Prime Five Core Takeaways:

• 1:1000 maximum Forex leverage
• 99.5% of trades executed in under 50 milliseconds
• Actionable trading signals by Trading Central
• No volume-based rebates
• No pricing transparency

Doo Prime Regulation & Security

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend that traders check for licenses and verify them with the regulator by checking the provided license with their database. Doo Prime has two well-regulated entities.

Is Doo Prime Legit and Safe?

My review found no misconduct or malpractice by this broker. Therefore, I recommend Doo Prime as it is a legitimate broker.

Doo Prime regulation and security components:

• Regulated by the Financial Services Commission (FSC) and the Vanuatu Financial Services Commission (VFSC)
• Founded in 2014
• Segregation of client deposits from corporate funds
• Negative balance protection
• Professional indemnity insurance

What Would I Like Doo Prime to Add?

I want Doo Prime to consider membership with the Hong Kong-based Financial Commission, which offers third-party audits and a €20,000 compensation fund per claim to all traders. Additionally, more transparency regarding its core management team would further increase trust in this broker.

Doo Prime Regulators

Fees

I consider trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. Doo Prime offers an above-average commission-free and commission-based pricing environment. Doo Prime claims no internal deposit, withdrawals, or inactivity fees. Please note that third-party processing costs and currency conversion fees may apply.

The minimum trading costs for the EUR/USD at Doo Prime are:

Minimum Spread Commission per Round Lot Cost per 1.0 Standard Lot 1.0 pips (Classic) $0.00 $10.00 1.0 pips (VIP) $0.00 $10.00 0.0 pips (Elite) $10.00 $10.00

Swap rates on leveraged overnight positions are the most ignored trading costs. Depending on the trading strategy, they may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

MetaTrader 5 traders can access swap rates from their platform by following these steps:

1. Right-click the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Swap Long and Swap Short.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights in the commission-based ECN account.

Taking a 1.0 standard lot buy/sell position in the EUR/USD, at the minimum spread and holding it for one night in the ECN account will cost the following:

Minimum Spread Commission per Round Lot Swap Long Swap Short Total TradingCosts 0.0 pips $10.00 -$9.1110 X -$19.1110 0.0 pips $10.00 X $4.7510 -$5.2490

Taking a 1.0 standard lot buy/sell position in the EUR/USD, at the minimum spread and holding it for seven nights in the ECN account will cost the following:

Minimum Spread Commission per Round Lot Swap Long Swap Short Total TradingCosts 0.0 pips $10.00 -$63.7770 X -$73.7770 0.0 pips $10.00 X $33.2570 $23.2570

Noteworthy:

• Doo Prime forwards positive swap rates on qualifying assets

Range of Assets

A well-balanced asset selection of 10,000+ trading instruments is one of the best features of Doo Prime, but the absence of ETFs is unfortunate. Doo Prime covers the following sectors: l Forexl Cryptocurrenciesl Commoditiesl Metalsl Indicesl Equitiesl Futures

Doo Prime Leverage

Maximum Retail Leverage 1:1000 Maximum Pro Leverage 1:1000

What should traders know about Doo Prime leverage?

• 1:1000 leverage applies to major currency pairs, minor crosses, and precious metals
• Equity indices and futures max out at 1:500
• Exotic currency pairs and commodities have a maximum leverage of 1:100
• Equity traders get 1:20
• Automatic stop-out level at 30% account margin
• Negative balance protection exists
• Traders must always use appropriate risk management with leveraged trading to avoid magnified trading losses

Account Types

Doo Prime Account Types

Doo Prime offers three account types with identical trading conditions, except for the Cent account, which lacks a demo account and has different minimum deposit requirements. My observations concerning the Doo Prime account types are: No minimum deposit for the Cent account, $1 for STP, and $100 for ECNIdentical trading fees for all accounts1:1000 leverage with negative balance protectionThe minimum trade size is 0.01 lots, and the maximum is 100 lots, except for the Cent account, which has a 1,000-lot maximumMinimum stop-order distance of 50 points, except for ECN, which has no minimumA maximum of 1,500 open orders per accountOnly USD as an account base currencyDedicated Doo Prime Copy Trading, FollowME social trading, and PAMM accounts

Doo Prime Demo Account

Demo trading does not grant exposure to trading psychology and can create unrealistic trading expectations. Therefore, I want to caution beginner traders when using demo trading as an educational tool, and they should consider the limitations.

What stands out about the Doo Prime demo account?

• Customizable MetaTrader 4 (MT4) and MetaTrader 5 (MT5) demo accounts
• Doo Prime does not list an expiration
• The demo account expires if traders do not use it for 60 days

Trading Platforms

Doo Prime offers MT4/MT5 as powerful desktop clients and popular mobile apps. Doo Prime upgrades MT4/MT5 with the Trading Central plugin. Additionally, traders can upgrade MT4/MT5 with 25,000+ and 10,000+ custom indicators, templates, and EAs, respectively. Traders can also use the proprietary Doo Prime InTrade trading platform, available as a web-based option and a mobile app. Alternatively, social traders may consider TradingView, where over 50 million peers share ideas.

Unique Features

Doo Prime shines with its passive portfolio management options. The Doo PAMM accounts cater to traditional account management, the in-house copy trading service Flexible CopyTrading offers a swift interface to copy traders, and FollowMe social trading community has 700K+ members that placed 58M+ orders exceeding $8.6M in value. VPS hosting and API trading cater to algorithmic traders seeking low-latency, 24/5 trading and wish to connect advanced custom trading solutions to the Doo Prime infrastructure.

Research & Education

Doo Prime does not publish in-house research, but traders receive actionable trading signals via Trading Central.

What about education at Doo Prime?

Doo Prime does not have an educational hub. While its website lists webinars, none were available or scheduled during my Doo Prime review.

My conclusion:

• Traders should seek in-depth education from third parties, starting with trading psychology and the relationship between leverage and risk management
• Avoid paid-for courses and mentors

Customer Support

Support Hours	24/7
Website Languages	EN ES AR JP ZH PT Other

Doo Prime offers 24/7/365 multi-lingual customer support via e-mail and phone. I recommend that traders browse the Help Center before contacting support, as it answers many questions.

Doo Prime Customer Support

Bonuses and Promotions

During my Doo Prime review, Doo Prime listed swap-free trading for all traders, a limited 8% cashback on gold trading, a 25% deposit bonus up to $2,000, a 50% margin bonus up to $5,000, the DP Trader of the Month competition, and the Doo Prime Trading Super Cup as bonuses and promotions. Terms and conditions apply, and I urge traders to read and understand them before participating.

Opening an Account

Doo Prime maintains a swift online application. After completion, Doo Prime will e-mail a PIN to confirm the registration.

What should traders know about the Doo Prime account opening process?

• Doo Prime complies with global AML/KYC requirements
• Account verification is mandatory
• Most traders pass verification by uploading a copy of a government-issued ID and one proof of residency document
• Doo Prime may ask for additional information on a case-by-case basis

Minimum Deposit

The Doo Prime minimum deposit is between $0 and $100.

Payment Methods

Withdrawal options
Deposit options

Doo Prime accepts bank wires, credit/debit cards, e-Pay, FasaPay, and HWGC.

Accepted Countries

During my Doo Prime review, the broker stated: “We do not offer our services to individuals or companies of certain jurisdictions, including but not limited to Afghanistan, Bosnia and Herzegovina, Burundi, Canada, Central African Republic, Chad, Congo (Brazzaville), Congo (Kinshasa), Cuba, Cyprus, Equatorial Guinea, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Guyana, Haiti, Hong Kong, Indonesia, Iran, Iraq, Israel, Lebanon, Liberia, Libya, Malaysia, Mali, Nicaragua, North Korea, Russia, Sierra Leone, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, United Arab Emirates, United States, Venezuela, Yemen, Zimbabwe.”

Doo Prime Account Opening

Deposits and Withdrawals

The secure Doo Prime back office handles financial transactions for verified clients.

What are the key takeaways from the deposit and withdrawal process at Doo Prime?

• The minimum deposit is between $0 and $100
• Payment processors have minimum and maximum transaction amounts
• All accounts are USD accounts, but Doo Prime accepts AED, AUD, BRL, COP, CLP, CNY, EUR, EUSD, GBP, HKD, IDR, KRW, KHR, LAK, MMK, MXN, NGN, PEN, THB, USD, USDT, VND, and ZAR as deposit and withdrawal currencies
• Doo Prime does not list a minimum withdrawal amount
• Deposit processing times are between instant and 30 minutes, except for bank wires, which can take two to five business days
• Doo Prime claims internal processing times of one business day
• Third-party payment processing costs and currency conversion fees may apply
• The name on the payment processor and Doo Prime trading account must match in compliance with anti-money-laundering (AML) regulations

Is Doo Prime a Good Broker?

I like the trading environment at Doo Prime, which offers traders three competitive options for passive portfolio management. I appreciate the Trading Central plugin, VPS hosting, and API trading, but the trading fees are too high for active traders. Therefore, I rank Doo Prime among the Forex brokers with upside potential if it addresses its high trading costs.

FAQs

When was Doo Prime founded?

Doo Prime was founded in 2014.

What countries are restricted by Doo Prime?

During my Doo Prime review, the broker stated: “We do not offer our services to individuals or companies of certain jurisdictions, including but not limited to Afghanistan, Bosnia and Herzegovina, Burundi, Canada, Central African Republic, Chad, Congo (Brazzaville), Congo (Kinshasa), Cuba, Cyprus, Equatorial Guinea, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Guyana, Haiti, Hong Kong, Indonesia, Iran, Iraq, Israel, Lebanon, Liberia, Libya, Malaysia, Mali, Nicaragua, North Korea, Russia, Sierra Leone, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, United Arab Emirates, United States, Venezuela, Yemen, Zimbabwe.”

How to withdraw money from Doo Prime?

The secure Doo Prime back-office handles withdrawals for verified clients. The process functions similarly to online banking.

What is the minimum deposit for Doo Prime?

The Doo Prime minimum deposit is between $0 and $100.

Is Doo Prime regulated?

The Mauritius FSC and the Vanuatu VFSC regulate Doo Prime.

By DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.