Dooprime.com Review Is Doo Prime A Scam Forex Broker

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WisdomTree International Dividend ex-Financials Fund (DOO)

Previous Close 31.07
Open 30.60
Bid 30.46 x 1000
Ask 30.56 x 800
Day’s Range 30.43 – 31.20
52 Week Range 27.35 – 43.32
Volume 10,570
Avg. Volume 37,380
Net Assets 136.53M
NAV 30.97
PE Ratio (TTM) N/A
Yield 4.92%
YTD Daily Total Return -27.04%
Beta (5Y Monthly) 0.92
Expense Ratio (net) 0.58%
Inception Date 2006-06-16

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BRP, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 30, 2020 / BRP, Inc. (NASDAQ: DOO ) will be discussing their earnings results in their 2020 First Quarter Earnings to be held on May 30, 2020 at 9:00 AM Eastern Time. To .

DOOPrime Review – is it scam or safe?

DOOPrime is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides the MetaTrader 4 platform and an extremely high leverage of up to 1:2000. The required minimum deposit is quite favorable at just $100 and the spread is absurdly low at 0.1 pips.

Account type Min. deposit Max. leverage Spread s
Classic Account $100 1:400 0.1 pips
Quantum Account $5000 1:400 n/a

Disadvantages

On the brokers website we read that the broker brand is owned and operated by a SVG-based company with the name DOOPrime Limited. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.

We even read it is “regulated” by the local Financial Services Authority, however, this is quite misleading. We remind readers that the government of SVG has multiple times publicly stated that it does not oversee Forex trading and thus we may safely conclude that the brokerage not regulated.

Furthermore, the broker is owned by another company registered in Hong Kong. We do remind readers that Forex brokers in Hong Kong have to be licensed by the localSecurities and Futures Commission (SFC in order to operate legally in the country. Going through the online registry of the Hong Kong authorities we find no mention of the company which leads us to conclude it has no regulation there either. The third company – DOO Clearing Limited – is supposedly registered in the UK and regulated by the FCA. Of course, after another quick check of the online registry we can safely conclude that the brokerage does not fall under any regulatory oversight whatsoever.

Not being regulated opens up a whole basket of risks for potential clients. Without regulation, we have no guarantee of the segregation of accounts i.e. the clients funds may well be mixed with those of the company and liable to all sort of illegal encroachments on part of the broker. Due diligence requires us to state this fact. Furthermore, besides the possibility of commingling, there is also no safety mechanism by which the clients losses may be recovered in case the broker goes bankrupt. Regulatory agencies such as the NFA or Cysec offer all these assurances and more. We suggest interested traders play it safe and orient themselves to brokerages that can assure compliance with the highest regulatory standards. Here is a list of our recommended NFA-regulated forex brokers:

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MetaTrader 4/5 available

However, putting all this aside – the brokerage does provide the MetaTrader 4 trading platform and the MetaTrader 5 which we always consider an advantage since it is the foremost trading terminal at the moment equipped with features such as almost a 100 market indicators, as well as customizable trading robots. It is also the preferred choice for more than 80 percent of the traders in Forex. We were able to easily register for a demo account.


Low minimum deposit

We learn that the minimum deposit for the most basic account is $100 which is below the average of $200-250. A low minimum deposit is a plus for a number of reasons. The most important of which is that it allows clients to try out the brokerage without having to risk a large sum. There are, however, other top-notch brokerages who do not even have a minimum deposit. One such is FBS where you may trade with the meager deposit of $1.

Wide range of trading options

The website states that the brokerage offers a wide variety of trading products. Potential clients of DOOPrime may trade CFDs on currency pairs, indices, stocks, futures, commodities and crude oil. We must state that without access to the trading platform we cannot be sure if traders with the brokerage do in fact have at their disposal such financial instruments. We may only relay the information presented on the website. We could not find, however, cryptos listed among those on the website. The cryptomarkets is among the most excited possibilities in the forex trading world and we highly recommend it to interested traders. Here is a list of our top Bitcoin forex brokers:

DOO Prime is an unregulated brokerage in St. Vincent and the Grenadines which does not offer all that favorable trading conditions. We are not certain regarding the validity of the presented spread and most importantly – the broker falls short when it comes to the safety of the clients funds. Without proper regulation we just cannot confirm the security of the client’s funds and that is what most of all inclines us to recommend traders look into better trading options to which we have linked throughout the review.

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