Beware! Doha Bullion is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Doha Bullion is pretty much a scam and a risk to all. Everything that we have seen in this broker is illegitimate. Read on for more.
Doha Bullion presents a bunch of fake regulatory details, that seem to be there only to confuse users, which should not be the point at all.
First of all, we are given a Belize address, suggesting the broker is regulated by the Financial Services Commission of Belize, which it isn’t really the fact. Actually, the Belize thing is useless, and a lie.
Next, we are told that the broker is actually located in India, if you are to trust the contact address section. India has a regulator, called the Reserve Bank of India, but is not the best FX trading location. In fact there are many restrictions on trading in India, making it not the first or second choice for most companies and users. And in any case, Doha Bullion is not licensed there anyway.
Lastly, in the home page, there is another address stated, this one in Dubai of all place. This emirate, like the others, is trying to become one of the globe’s major financial hubs and it will curb the progress by accepting brokers such as Doha Bullion. So in other words, the Dubai claim is fake, and the broker is not regulated by the local DFSA. In fact, there are no regulatory claims at all, only addresses.
To tie the whole scammer package, we are also missing the legal documents, meaning that Doha Bullion can do as it pleases, which it seemingly already does. Do not invest in this unlicensed broker.
| Guaranteed Funds | Segregated Accounts | Negative balance protection | |
| Doha Bullion | ❌ | ❌ | ❌ |
| UK regulated brokers | £85 000 | Yes | Yes |
| EU regulated brokers | €20 000 | Yes | Yes |
| AU regulated brokers | No | Yes | Yes |
| US regulted brokers | Yes | Yes | No |
Doha Bullion Trading software
| Analytical tools | Auto trading | Custom indicators | Mobile apps | |
| Doha Bullion No Software | ❌ | ❌ | ❌ | ❌ |
| MT4 | 30+ indicators | ✅ | ✅ | Android |
| MT5 | 50+ indicators | ✅ | ✅ | Android |
| cTrader | 40+ indicators | ✅ | ✅ | Android and iOS |
There was no way to register. We were fooled to think that the sign up process was what it should be. Instead, the client sends a message to the broker in the hopes that it will accept it, although in the case of Doha Bullion it’s better to get rejected.
We were never getting a callback for this broker, which actually hindered the review process since now we have no choice but to rely on the website for all the information.
The website reveals some sort of a platform with a download link but we did not end up opening it out of fear for a virus or malware. Unlicensed brokers are filled with surprises.
Doha Bullion Trading instruments
| Currency | Stocks | Indices | Crypto | Commodities | |
| Doha Bullion | ❌ | ❌ | ❌ | ❌ | ✅ |
| XM | Yes | Yes | Yes | Yes | Yes |
| FBS | Yes | Yes | Yes | Yes | Yes |
| FXTM | Yes | Yes | Yes | Yes | Yes |
The website seems to make one thing clear: that Doha Bullion is exclusively a precious metals broker only. It never mentions any other tradeable assets. There are no forex pairs, no shares, and no cryptocurrencies.
Doha Bullion Spreads and cost of trading
| Doha Bullion | XM | FBS | FXTM | |
| Spread EURUSD | ❌ | 1.7 | 1 | 1.1 |
| Spread GBPUSD | ❌ | 1.3 | 1.2 | 1.4 |
| Spread USDJPY | ❌ | 1.3 | 1.2 | 1.4 |
Obviously, considering what we said before, it would have been a surprise if Doha Bullion included any spread values. There is nothing on such trading conditions.
Doha Bullion Maximum leverage
| Forex | Stocks | Crypto | Gold | Indices | |
| Doha Bullion | ❌ | ❌ | ❌ | 100:1 | 100:1 |
| UK regulated brokers | 30:1 | 5:1 | ❌ | 10:1 | 10:1 |
| EU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| AU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| US regulated brokers | 50:1 | ❌ | ❌ | ❌ | ❌ |
Again, a crucial trading condition that has been left unsaid. All we can tell you is that precious metals a re usually not ones to go with high leverages. Trading with FX pairs is where high leverage values are. In the case of Doha Bullion, there are no FX pairs.
Doha Bullion Deposit and withdrawal methods
| Deposit time | Withdrawal time | Fee | |
| Bank wire | 3-5 business days | 2-5 business days | $25 |
| Credit card | Instant | No Information | Free |
| Paymt2 | No information | No information | 2% |
| Crypto | 24 hours | 24 hours | Fee depends on crypto |
There is absolutely no payment information whatsoever here. No payment methods nor processing times have been mentioned, leaving us completely in the dark. Usually the most popular payment methods with scammer is any sort of crypto wallet, because of their decentralized nature. Above are typical payment method details.
Doha Bullion Minimum deposit
| Doha Bullion | XM | FBS | FXTM | |
| Minimum deposit | N/A | $5 | $10 | $5 |
The minimum deposit with any unregulated broker really depends on the scammer, but we have noticed that many have low requirements, as low as $1 in fact. This is so that the user invests no matter what. In the case of Doha Bullion, there is no minimum deposit anywhere.
Doha Bullion Withdrawal requirements
| Trading volume | Fee/Tax on withdrawal | Minimum withdrawal | |
| Doha Bullion | NO | NO | NO |
| UK regulated brokers | No | No | No |
| EU regulated brokers | No | No | No |
| AU regulated brokers | No | No | No |
| US regulated brokers | No | No | No |
As expected, there are no withdrawal details anywhere, no min requirements, no fees, and no processing times. In fact, there is no real evidence that clients can withdrawal money. With unlicensed brokers you never know, even more so with ones that look like Doha Bullion.
All we know is that in the legal doc, those that have them, if you see any fees like turnover requirements, unrealistic charges – such as a percent of off your withdrawal more than 3% – you know that the broker is a scam. Withdrawals are rarely specified but that does not mean that there are no withdrawal requirements, most of them shady with the likes of Doha Bullion.
