Exclusive FNG… FNG has learned that Singapore-based online brokerage Doo Group has expanded into another country by acquiring PT Prima Tangguharta Futures, a small Indonesia-based MT5-based broker. Jakarta-based Prima Tangguharta Futures was founded in 2004 and provides online trading in currency, stock index, commodity and other derivative contracts (i.e. CFDs).
The acquisition is accompanied by a license issued by Indonesia’s financial regulator Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI). The Doo Group is in the process of renaming the regulated entity to PT Doo Financial Futures, with the current website ptf.co.id changing to id.doofinancial.com once final approvals are received.
The move comes after Doo Group recently added a CySEC license to serve the EU retail CFD market. Earlier this year the Doo Group expanded its operations in Singapore with a MAS-CMS license and obtained a Type 1 license in Hong Kong.
About Doo Group
Founded in 2014 and headquartered in Singapore, the Doo Group has licensed subsidiaries in various locations including the US, 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, including Doo Prime, Doo Clearing and Doo Financial. The Doo Group is controlled by Chinese national Junjie Chen.