Doo Group Realigns 'Operational Structure,' Plans to Leave Limassol Office

D Prime, the online trading platform for financial products under Doo Group, appears to be closing its office in Limassol, Cyprus. The platform rebranded its name from Doo Prime to D Prime in August.

Doo Group has two offices in Limassol. One month ago, D Prime dissolved its entire Cyprus-based marketing department and subsequently expanded layoffs. An employee disclosed that the staff were notified and the broker would vacate the premises within two weeks.

The online trading brand told the media, "Doo Group extends its sincere appreciation to all team members for their dedication and contributions over the years. The Group remains committed to supporting employees throughout this transition."

Meanwhile, the broker disclosed that the brand is preparing for the next phase of its global strategy. "Doo Group is realigning its operational structure to enhance efficiency and concentrate resources within key strategic regions."

In September last year, Doo Group obtained a license from the Cyprus Securities and Exchange Commission (CySEC), enabling it to provide derivatives services across Europe.

BrokersView reminds you

Multi-asset online trading brand D Prime is regulated by financial authorities in Australia, the UK, Mauritius, Seychelles, Vanuatu, and Labuan.

Previously, Malaysia launched a nationwide crackdown on illegal call centers and similar operations, during which D Prime's local office was also investigated. However, Doo Group emphasized its operations were fully compliant and is cooperating with authorities in the investigation.