DooPrime (Dooprime.com) is another brutal Crypto Currency and Forex broker to try and steal from members. Doo Prime is promising users very low spreads at milliseconds. Most investors who signed up with this broker are crying foul after their accounts were closed. Investors claim withdrawing funds has been a major problem. What is ailing investors who sign up with this platform? Read this detailed and honest DOOPRIME review for more.
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After receiving numerous email complaints from members of this platform, we knew trouble was brewing. Most members are ruing signing up with this lame broker after having deposited huge funds. As expected, scam artists are behind this platform and this honest review will help expose their tricks. Want to learn some of the dirty tricks used? Go ahead and read this entire review as we will reveal their trickery. These are professional scam artists who will steal your funds without second thought.
Why do newbie investors sign up with such inhumane platforms? Most investors don’t conduct a thorough research before signing up with online investment platforms. A real investor will read reviews as they help traders know what to expect with a certain platform. Thanks to our years of trading experience, we know how to spot scams. In most cases, professional scam artists will offer over the moon claims and promises. DooPrime is one of those platforms which promise heaven and deliver hell!
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According to the disclaimer on their homepage, they claim Doo Holding Group Ltd owns this platform. Let it be known professional scam artists will do or say anything to make their platforms appear legit. And Doo Prime is creating a scenario where they claim to be affiliated with Doo Holding Group Ltd.
DooPrime is based in St. Vincent and the Grenadines which is proof we are dealing with offshore brokers. Anonymity is what makes offshore brokers thrive and is also a risky partner. Who are the founding members of this platform? Why can’t investors get the actual names of people running this website? These scammers have made sure their actual names are kept out of the website for a reason. They don’t want to face any backlash from authorities and victims.
DooPrime is not licensed by international regulatory bodies as expected. These scam artists know most investors will easily believe random numbers posted as a license. Thanks to our years of experience, we have to validate these numbers. What we did was contact reputable regulatory bodies. They included ASIC, COSNOB, CySEC, FCA, and NFA. These bodies have never licensed Doo Prime.
Why have they failed to post copies of their licensing certificates? A genuine broker will post copies of their licensing documents for two reasons. One, these documents will be used to validate their trading license. Two, these documents are proof of transparency between the broker and regulatory bodies. Any broker who fails to issue these documents is clearly breaking the law. DooPrime is an unauthorized broker who is offering trading services without a valid license.
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DooPrime is furnishing users with two different account types. These accounts are named Classic and ECN. What we noticed odd with these account types is how similar they are to each other. Why would an investor deposit over $5,000 and get same advantages as one who deposits $100? These scam artists did not count on our investigators to find out about their shoddy accounts.
Another perturbing issue with their accounts is having a hidden account manager. Before signing up, members are promised a dedicated account manager once they deposit funds. After depositing funds, these account managers cease to exist.
Did you know this broker has rigged their demo account to produce insane profit margins? Members sign up with their demo account hoping to find out how their platform works. These scam artists know for fact demo accounts use virtual money which is not real. And this is where they rig their demo account to make over 98% successful trades. These are just tricks to fool members into believing their platform can achieve this fete. Members go ahead to sign up and deposit real funds in order to mirror results.
Depositing and withdrawing with this broker is not as easy as one is led to believe. Depository channels include MasterCard, Visa, and wire transfer. A huge problem as we said earlier on is withdrawing funds. Depositing takes less than five minutes and withdrawing never happens. Sending emails with withdrawal issues will have no effect as response never happens. And this is where we draw the line with DooPrime.
There’s no way funds can be safe with an anonymous offshore broker. Why have they failed to mention where they bank funds deposited by members? Their website lacks the basic of security features which makes us question transaction safety. Did you know members are depositing funds straight to owner’s bank account? These are some of the tell signs we are dealing with a hoax.
Another unsettling issue we found out with this broker is segregation of accounts. DooPrime is pooling funds in one account which is not acceptable. Merging assets in one account is risky as bankruptcy can occur at any time. . Don’t expect any compensation in case of insolvency. Doo Prime is not insuring funds as dictated by trading laws.
After reviewing all facts, we are sure DooPrime is a scam. Make sure to mark their emails as Spam and never click on any links set.
Adding this broker to our scam blacklist will protect our readers from falling into this trap. Stay away from this and any other broker who shares similar characteristics.
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Wishing all investors a lucrative and safe trading experience.
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