Singapore-based Doo Group has been making significant strides in the global online brokerage market. With a history dating back to 2014 and a headquarters in Singapore, the group has now expanded to yet another country. This latest acquisition involves PT Prima Tangguharta Futures, a small MT5-based broker based in Indonesia. Established in 2004 and operating from Jakarta, Prima Tangguharta Futures offers trading in various instruments such as foreign exchange derivative contracts, stock indices, commodities, and other derivative contracts (CFDs) online.
Acquisition and Regulatory Milestones
The acquisition of PT Prima Tangguharta Futures comes with a license issued by Indonesia's financial regulator Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI). Doo Group is in the process of renaming the regulated entity to PT Doo Financial Futures. Once the final approvals are received, the current website ptf.co.id is set to change to id.doofinancial.com. This move follows Doo Group's recent addition of a CySEC license to serve the EU CFDs retail trading market. Earlier this year, the group expanded its Singapore business with an MAS-CMS license and obtained a Type 1 license in Hong Kong.Company Overview and Global Presence
Doo Group, founded in 2014, is headquartered in Singapore and operates licensed subsidiaries in several locales. These include the USA, UK, Cyprus, Singapore, Australia, and Hong Kong, as well as offshore entities in Labuan, Seychelles, Mauritius, and Vanuatu. The company operates several different online trading brands, such as Doo Prime, Doo Clearing, and Doo Financial. It is controlled by Chinese national Junjie Chen. This extensive global presence allows Doo Group to serve a diverse range of clients and markets.Trading Offerings and Market Reach
PT Prima Tangguharta Futures, which Doo Group has acquired, provides a wide range of trading opportunities. Its online platform allows clients to trade in foreign exchange derivative contracts, enabling them to hedge against currency fluctuations and take advantage of market movements. The trading of stock indices gives investors access to the broader market trends and allows for portfolio diversification. Commodity trading offers exposure to various raw materials and agricultural products, providing an additional avenue for investment. Additionally, the trading of other derivative contracts (CFDs) gives traders more flexibility and the ability to speculate on different asset classes. With Doo Group's global reach and diverse trading offerings, clients can access these markets from anywhere in the world.Regulatory Compliance and Market Access
The acquisition and the subsequent regulatory approvals demonstrate Doo Group's commitment to compliance. By obtaining licenses from different regulatory authorities, the group ensures that it operates within the legal framework and provides a safe and secure trading environment for its clients. This regulatory compliance also gives Doo Group access to different markets and allows it to serve a wider range of clients. In Indonesia, the BAPPEBTI license provides Doo Group with the necessary authorization to operate and offer its trading services. Similarly, the CySEC license in the EU and the MAS-CMS license in Singapore give the group a competitive edge in their respective markets.