Offshore FX broker Doo Prime gets Mauritius license
Doo Prime, the China-focused retail FX brokerage arm of Hong Kong based fintech firm Doo Holding, has announced that its application for The Investment Dealer (Discount Broker) Licence has been approved by the Mauritius Financial Service Commission (FSC).
The Doo Holding Group also operates offshore broker Doo Prime Vanuatu Limited, Vanuatu which is regulated by the Vanuatu Financial Service Commission (VFSC). The company’s UK subsidiary Doo Clearing Limited is licensed by the UK’s Financial Conduct Authority (FCA), however by the terms of its license it may control but must not hold client money, and it is unable to act as Principal.
The Doo group is controlled by Chinese national Junjie Chen.
Doo Prime stated that in keeping with the rules of its license it separates client capital from the company’s funds and deposits the funds in Tier 1 banks.
Doo Prime consolidates different trading assets including stocks, futures, currency, precious metals, CFDs, and other assets into one account.