Dooprime Review: Take a Peek Behind the Curtains
We have to give it to Dooprime. They employ so much smoke and mirrors that they could fool a lot of people. But that is why we are here, to dive deeper, dig through this elaborate facade and give you the truth.
Please, read our Dooprime Review before you invest with this broker. They are up to no good, and you will probably never see your money again. We will only take a couple of minutes, let’s go!
|Broker name||Reliable Broker Must Have|
|Legal name:||Doo Prime Vanuatu Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation:||Offshore Broker||Within your legal jurisdiction – local regulator|
|Registered in:||Vanuatu||Your country or the country whose license applies in your legal jurisdiction|
|Established:||2021||The older the domain – the higher the possibility the company is trustworthy|
|Website:||dooprimeapec.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings:||No||None|
|Contacts:||Email: [email protected]
Phone: +44 11 3733 5199
|Phone, email, social media, web form|
|Is withdrawal possible:||Highly unlikely||Yes|
|Fees:||No fees (allegedly)||Transparent fees – list of spread and commissions|
|If Active on Social Media:||Facebook, Instagram, LinkedIn, Twitter||Often present on social media|
|Investor Protection:||No||Compensation fund|
Dooprime proudly claims on its website that it is regulated in multiple countries and by several top regulators, including FINRA and the FCA. However, these do not check out, as we did not find Dooprime in any of the respective registers.
If you scroll to the bottom of their website, you will see they are part of the doo group registered in Vanuatu. And this is where everything becomes clearer. Offshore brokers are known to be extremely risky because that type of regulation is not reliable at all. What’s more, Dooprime does not even hold a Vanuatu license. In fact, out of all licenses they claim to have, only the Seychelles one holds true, which is not the one you can trust.
When you look for a broker, you want them to have a legitimate license from a trusted regulator. Some of those authorities include:
- South Korea
Since Dooprime is not regulated by any of these, you should avoid investing your money because you will almost certainly lose it.
Dooprime knows what is trending in the market and follows those trends closely. The prime example is their trading platform offer. You have a chance to use the dooprime metatrader 4 and the dooprime mt5. These two are the premium platforms in Forex trading due to their functionality, advanced tools, and user-friendly interface. Apart from those two, clients can also test their skills in InTrade and TradingView.
Moving on to accounts, the broker gives you three options to choose from:
- Cent – USC 100
- STP – $100
- ECN – $5,000
With the Cent account, you can enjoy Precious Metals, Commodities, and dooprime forex trading, while the STP and ECN accounts give you access to Securities, Futures, Currency, Metals, Commodities, and Stock Indices. There is also a dooprime demo account.
You also have the option of dooprime social trading. This means you can trade with experts in the field and share knowledge with them and other traders.
|Trading platforms:||MT4, MT5, InTrade, TradingView|
|Account types:||Cent – USC 100
STP – $100
ECN – $5,000
|Financial Instruments On Offer:||Securities
|Education or Extra tools:||No|
Is This Broker Safe?
We would advise you to pass on dooprime and choose a different, more trustworthy broker. Dooprime does not have a reliable license, and just like VTindex, it cannot guarantee your money will be safe with them.
On the other hand, if you want to find a safe broker today, we would be happy to help. We offer free consultations where we discuss your needs and goals and recommend brokers according to that.
Trader Reviews – Sharing Experiences
A vital part of any unbiased broker review is the trader reviews section. They provide valuable insight into brokers’ practices, customer relations, and other essential things.
Dooprime is verified on Trustpilot with a 3.3 rating and 57 total reviews. We were surprised to see many positive opinions on the broker, many of whom mostly tout their customer service.
There were some unflattering comments as well. One unsatisfied customer said: “Absolutely awful company, amateur at best. Avoid at all costs,” while another one wrote simply “Awful company.”
How Does the Dooprime Platform Reach Clients and Who Are They?
According to online reviews, the clients dooprime targets come from:
- The US
Beware of any suspicious contact from this broker. Legitimate financial companies like Webull and VT Markets do not randomly reach out to people, they leave their reputation to do the talking. Reliability is the best marketing point in Forex and trustworthy brokers do not need to contact you about partnership.
Deposits and Withdrawal Methods
Dooprime lets you make deposits via several methods:
- Local bank transfers
- International bank transfers
- Credit cards
On the other hand, the only method you cannot use for withdrawals is credit card transfer. The minimum you have to withdraw is $50, and depending on the withdrawal method, you might be constricted in terms of currency. E-wallets only support USD transfers, and you can only get your money in USD, GBP, and EUR in international bank transfers.
The broker also claims there are no commissions included with deposits or withdrawals, but take that with a grain of salt.
Reasons To Avoid This Company
For all the reasons dooprime seems appealing, there are powerful counterarguments. While dooprime cfd and dooprime commodities trading can sound lovely, remember that this broker does not have a reliable license. This lack of regulation makes trading extremely risky, and you stand to lose all your money.
Offshore brokers like dooprime usually turn out to be scams, even if that does not appear to be the case in the beginning. Always keep that in mind and avoid trading with them.
Long Story Short – Dooprime
We want to end this Dooprime Review by once more urging you to avoid this broker. They have an offshore license that you cannot trust, and it is highly unlikely you would get your money back if you invest.
There are so many better and more reliable options out there, and if you need any help finding them, we can help. Contact us today, and let’s get you a perfect trading partner!
Is Doo Prime legit?
No, Doo Prime is not a legitimate broker. They have an offshore license, making them risky for business.
What is the minimum deposit for Doo Prime?
The minimum deposit at Dooprime is $100. This is not bad, but there are cheaper and more reliable options on the market.
What are the different types of Dooprime accounts?
Dooprime offers three types of accounts – Cent, STP, and ECN. The minimum deposit for the first two is $100, while the ECN one has a $5,000 minimum price tag.