Doo Group appears to be changing its trade name, as it has rebranded its South Africa- and United Kingdom-based brands to RKX. This comes months after the group rebranded its prime services brands to D Prime from Doo Prime.
Another Rebranding for Doo
Companies House filings show that the broker group changed the name of its UK-registered entity from Doo Clearing to RKX Financial yesterday (Tuesday). It has also updated the new trade name with the Financial Conduct Authority (FCA).
However, the ownership structure appears to be the same.
Although the UK website of RKX is not yet operational, the South African version indicates that its services are only available to “professional clients and eligible counterparties,” meaning there is no room for retail traders.
The offering on the South African website also appears standard, as it provides contracts for differences (CFDs) on forex, indices, commodities, metals, and cryptocurrencies, with leverage as high as 1:1,000.
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Is the Rebranding Part of a Restructuring?
The rebranding came after changes within Doo Group.
Doo obtained a Cyprus licence in 2024 and opened a second office on the island last year. FinanceMagnates.com reported last October that the brokerage arm of the group was vacating its Limassol office following staff layoffs.
The broker group also maintains a significant part of its operations in Malaysia. However, Malaysian authorities “conducted inspections” at the local office of Doo last year. The action by law enforcement was part of “a broader nationwide campaign against illegal call centres.”
Meanwhile, a subsidiary of Doo Group recently obtained a money lenders licence in Hong Kong, which allows it to operate a money lending business in the autonomous jurisdiction. The group also secured an Indonesian licence in 2024 to expand its presence in Asia.
This article was written by Arnab Shome at www.financemagnates.com.
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