OIL PROFIT REVIEW – IS IT SCAM OR LEGIT?
We are living in the digital age, and technologies are advancing at a rapid pace nowadays. Trading technology hasn’t been standing still, and an automated crude oil trading software has emerged called Oil Profit. In this honest and unbiased Oil Profit review, we are going to take a close look at this software and find out whether it is legit or not. We will highlight its key features, pros, and cons and give you our honest opinion about it. Additionally, we will be answering some frequently asked questions regarding the service that we have regularly gotten from our loyal website visitors.
Oil Profit Short Overview
To give you a better idea of what Oil Profit platform has to offer, we’ve put together a handy overview in the form of a table.
| 🤖 Type of platform | Web-based |
| 💠 Trading Asset | Oil |
| 💰 Platform Cost | Free |
| 💰 Trading Fees | None |
| 💸 Minimum Deposit | $250 |
| 💳 Deposit options | Credit Card, Wire Transfer, PayPal |
| 📧 Customer Support | via email |
| 🌎 Countries | All – Except USA |
Oil Profit Pros & Cons
Oil Profit Pros & Cons
Now that you understand what Oil Profit is, how it works, and how you, too, can benefit from it, it is time to weigh the pros against the cons. In this section of our comprehensive Oil Profit review, we will highlight the advantages and disadvantages of the service so that you know exactly what you can expect and don’t face any unwanted surprises.
Operating System: Windows 10, Windows 7, Windows 8, OSX, macOS, iOS, Android 7.1.2, Android 8.1, Android 9.0, Android 10.0, Android 11.0, Android 12.0, Android 13.0
Application Category: FinanceApplication
4.9
Pros
- Oil Profit’s success rate is over 90%, resulting in consisting winning trades.
- The system can trade both oil and cryptocurrencies like Bitcoin with no manual input required from you as a user.
- The Oil Profit software doesn’t require any prior trading experience, financial background, or degree.
- Oil Profit has partnered up with a selection of the world’s top brokers and cryptocurrency exchanges so that you can connect it to any reputable, licensed, and regulated platform while being assured that all goes as planned.
Cons
- The biggest disadvantage of Oil Profit is that it only trades CFDs, meaning that you won’t own the underlying assets of your trades and are merely speculating on the price fluctuations of oil versus other financial instruments.
- As Oil Profit is still very new, it hasn’t had the time to build up a stellar reputation among traders yet.
- The minimum deposit required to use Oil Profit with any of the recommended partner brokers is $250.
How Does Oil Profit Work?
Oil Profit essentially works very straightforwardly. It is an automated trading system that trades the financial markets, the crude oil markets in particular, on your behalf. As you don’t need to conduct any technical or fundamental analysis, the bot saves you a lot of time. Additionally, the software isn’t influenced by emotions and only trades according to set parameters.
Once you have set up the system, it will work in the background of your device, opening and closing trades all day. According to your risk appetite and other parameters, the software scans the markets for profitable entries and places trades whenever it finds these. Oil Profit will then continue to manage the position and calculate the right time and price to close it. Once the software closes a position, the profit is added straight to your brokerage account balance.
As Oil Profit completely automates your trades, you will have a lot of spare time to spend on your hobbies, with your partner or family. Additionally, you will beat the markets as the software tries to capture small but consistent gains every single day.
Is It Worth Investing In Oil?
“You’ve stuck a lot of straws into the Earth, and it is a finite number. So, the one thing I can almost promise you is that oil will sell for a lot more someday.”
Warren Buffett
Whilst you could certainly keep your hard-earned money in your savings account, this won’t yield any meaningful results. You might think of investing in commodities like gold or silver, but oil might be even way more interesting. Oil is an important commodity and is used for many things, like fuel for cars, trucks, and airplanes.
Although there are many alternative energy sources nowadays, crude oil will remain vital in years to come. By investing in oil, you can profit from the massive price swings per barrel that occur regularly. Crude oil prices fluctuate daily, and traders all across the globe make money from this, even in downward market trends and in times with little to no price volatility. For this reason, oil is called ”black gold.” To answer the question: is it worth investing in oil? Yes, it is worth investing in oil, even with so many alternatives nowadays.
Can I Use Oil Profit In My Country?
In most cases, you will be able to use Oil Profit. The software can be used in almost any country across the globe, including the UK, Canada, and Australia. However, the only country and/or region that it cannot be used in is the United States of America.
Check the list below to find out whether Oil Profit is available in your country:
| Is Oil Profit available in the USA? | No |
| Is Oil Profit available in Australia? | Yes |
| Is Oil Profit available in Canada? | Yes |
| Is Oil profit available in the UK? | Yes |
| Is Oil Profit available in Singapore? | Yes |
| Is Oil Profit available in South Africa? | Yes |
| Is Oil Profit available in France? | Yes |
| Is Oil Profit available in Germany? | Yes |
Oil Profit Key Features
As you might know by now, Oil Profit is meant for traders who don’t have time to trade the financial markets themselves manually or that have little to no prior trading experience. Some of the service’s key features include:
AI-Powered Algorithmic Trading
Oil Profit uses state-of-the-art AI-powered algorithmic trading software to open and close trades on the international oil markets automatically. These algorithms are entirely objective and remove any form of emotions whilst trading, which reduces over trading and increases the chance of profitable trades by up to 90%. One of the best things about Oil Profit is that it can trade during any market conditions, including downward trends and sideways price action.
Built-in Demo Account
Because of its built-in demo account, users can test out Oil Profit on paper trading accounts loaded with virtual funds first before putting their hard-earned cash on the line. Additionally, this allows traders and investors to familiarize themselves with the platform and inner workings of the software before proceeding to trade with real money. Added to this, experienced traders can fully back-test the trading strategies of the bot and tweak these where needed.
Fully Customisable Parameters and Settings
Users can tweak Oil Profit’s parameters and settings completely according to their own risk appetite and investment goals. You will have multiple (advanced) options, including stop-losses, position sizes, take-profits, and all sorts of technical indicators that you can apply. You don’t need any prior trading knowledge in order to set these parameters, as they are all very self-explanatory.
Fast Withdrawals
Although it isn’t stated anywhere, we definitely think it is noteworthy that Oil Profit has very fast withdrawals. All the brokers and crypto exchanges the software works with, process withdrawal requests within 24 hours, which means you can enjoy your trading profits as fast as possible. Note that withdrawals per bank wire transfer may take several business days to fully process.
Multiple Trading Platforms Supported
The Oil Profit trading system can be used on browser-based broker platforms, desktop platforms, and even mobile trading apps. Key platforms Oil Profit is compatible with include MetaTrader 4, MetaTrader 5, and cTrader. Additionally, users can track the performance of the software at any time they want from the palm of their hand, as long as they have an active internet connection.
Free to Use Without Hidden Commissions or Fees
The Oil Profit software is completely free to use, and no hidden commissions or fees are charged whatsoever. The only thing you will need to do is to make a minimum deposit of at least $250 at one of the compatible brokers. Note that these brokers may charge you additional fees, including transaction fees, commissions per trade, spreads per trade, inactivity fees, and withdrawal fees.
Oil Profit Costs & Fees
One of the best things about Oil Profit is that it is completely free to use. There are no monthly subscription fees or sign-up fees, and the only thing you need to do is make a deposit of at least $250 with one of the partner brokers in order to start trading. Note that Oil Profit works with other brokers, which may charge commissions, spreads, overnight fees, transaction fees, and inactivity fees.
Please note that engaging in trading with unregulated brokers may not offer the same degree of investor protection as it would when trading with regulated brokers.
How To Get Started With Oil Profit
If you want to get started and use Oil Profit after reading this Oil Profit review, simply navigate to the Oil Profit website and follow the simple steps below to start using Oil Profit.
You can start using the Oil Profit platform in every country where crude oil CFD trading is allowed (For more information see “Can I Use Oil Profit In My Country?” section). The first step is to sign up for a demo account or live trading account at any of the compatible brokers offering a CFD trading platform.
Once you’ve signed up at a trading platform, you proceed by making the minimum deposit required to start trading oil CFDs. Most fiat currencies are accepted, and you can start using the trading system right away.
Set up Oil Profit according to your preferred trading strategy. Oil Profit trades exactly according to your set parameters, so Oil Profit depends on your input mostly. You can choose to let Oil Profit run on a demo account first before switching over to live trading crude oil.
How to manage an Oil Profit Account
Before you get started with Oil Profit, it is essential that you know how to manage your account. The last thing you want to happen is that the software begins opening and closing many trades without your complete understanding or consent. For this reason, it is important that you set up everything correctly and that you back-test your strategies periodically. We highly recommend thoroughly reading the steps below in order to avoid disappointments and potential loss of funds.
How to Create an Oil Profit Account
Total Time: 5 minutes
Step One
Creating an Oil Profit account is a very easy process that shouldn’t take more than 5 minutes of your time. All you need to do is navigate to Oil Profit website, click on the ”Login” button (situated in the right, upper corner) and fill in your personal details into the registration form. One of the service’s representatives will contact you in order to take the next step or you can proceed by yourself. If you wish to set up Oil Profit without any external assistance, continue with step 2, described below.
Step Two
After filling in your personal details, you will be redirected to one of the compatible brokers. Here, you open either a demo account or real trading account by verifying your data. Now, you can choose to test out Oil Profit and let it trade oil on a demo account first or let the AI of Oil Profit learn on a real trading account straight away. If you want to trade for real money directly, you will have to make a minimum deposit of $250.
Step Three
Once you’ve made your first deposit at one of the compatible brokers, it is time to let Oil Profit do the trading. Simply set the parameters, sit back, and enjoy the profits rolling in. You don’t have to stay logged in for the software to trade, which is one of the best things about it! We do recommend logging in every once in a while to check the Oil Profit summary from time to time to see if the software needs any additional tweaking from your side.
How to Delete an Oil Profit Account
It is worth mentioning, that you are free to delete your account at any time. This is totally free of charge and you don’t need to contact the support staff in order to do so. If you wish to delete your account – for whatever reason – simply follow the steps below to remove your account from its user database. Note that you won’t be able to use the automated oil trading software anymore, unless you sign up again for another account.
Total Time: 4 minutes
Step One
Start by logging into the broker account you have connected Oil Profit with. From here you navigate to the Expert Advisors or API section and turn off any API usage or EAs you are running. This will automatically switch off Oil Profit, as the software trades with the broker using an API connection.
Step Two
The next step would be to opt-out of the Oil Profit email list. You do this by opening up your email inbox, selecting any email from Oil Profit, and clicking on the ”unsubscribe” button at the bottom. If you cannot find any emails from the oil trading service, be sure to check your spam or junk folder, as email correspondence from the company may have ended in there.
Step Three
Once you’ve unsubscribed from the Oil Profit service and disconnected the Expert Advisor API from within your broker account settings, it is time to withdraw any remaining balance from your broker account. You do this by navigating to the cashier area, selecting the preferred payment method, specifying how much you want to withdraw, and then confirming this withdrawal request. Note that although most brokers process e-wallet withdrawals instantly, withdrawals per bank wire transfer may take up to 7 business days to fully process.
Supply:
- A cup of tea or coffee 😉
Tools:
- Any device with Internet connection
How Does Oil Profit handle my data?
As we are living in the digital age, it is of utmost importance that data such as your personal details and banking information doesn’t end up in the wrong hands. Luckily, Oil Profit users can rest assured that their sensitive personal information is safe with Oil Profit as Oil Profit claims it doesn’t keep customer data at all and only passes it on to the brokers and trading platforms it works with.
What types of personal data does Oil Profit collect?
Oil Profit collects personal data, such as your email address, first and last name, telephone number, and country of residence. Additionally, Oil Profit collects data in regards to know how you use the software, including your browser type, browser version, the time and date of your visit(s), the time you spend visiting a page, and other diagnostic data.
Does Oil Profit transfer my data to a third party?
Yes, according to the terms and conditions available at the Oil Profit site, the service does provide some necessary personal data to third party brokers. Oil Profit has to do this because Oil Profit opens trades at these brokers on your behalf and these brokers are required to have your personal information on file as per KYC requirements.
Oil Profit Customer Support
In case you have any questions regarding the Oil Profit automated trading system, or oil trading in general, you can contact the Oil Profit support 24/7 by email and via the contact form on the official Oil Profit website. The friendly and professional customer support staff will reach out to you and assist you as soon as possible.
Conclusion
In summary, the Oil Profit platform provides a reliable, convenient, and effective way to trade the crude oil markets. By automating the trading process, the software eliminates the need for manual input and saves you valuable time that can be spent on other important activities. Additionally, the platform is user-friendly and easy to navigate, making it accessible to traders of all experience levels.
We were impressed with the fact that the platform doesn’t charge any hidden fees or commissions, and there are no monthly subscription or sign-up fees. This means that traders can focus on trading without worrying about additional costs eating into their profits.
While there are always risks involved in trading, we found that the Oil Profit software performed well in executing trades according to the set parameters. By removing human emotion and error from the equation, the platform has the potential to increase your chances of success and profitability.
In conclusion, if you’re looking for a convenient, efficient, and affordable way to trade crude oil, the Oil Profit platform is definitely worth considering. With its automated trading system and user-friendly interface, you can take advantage of market opportunities and potentially increase your profits with minimal effort.
Please note that engaging in trading with unregulated brokers may not offer the same degree of investor protection as it would when trading with regulated brokers.
FAQs
Interested in learning more about trading platforms? Check out our Bit Index AI Review – Is It Scam or Legit? for a similar analysis.
Is Oil Profit legit company?
Based on our research, Oil Profit is a legitimate automated trading platform for crude oil. The platform is operated by a reputable company that is transparent about its services and processes. Oil Profit has been endorsed by numerous traders across the globe, which is a testament to its reliability and effectiveness.
How to invest in oil?
You invest in oil or start trading oil by connecting the Oil Profit App to your account for live trading . You fill in the registration form and make the minimum deposit with the recommended broker to start your oil trading journey. The oil profit robot will then start trading oil CFDs and generate profits through automated trading software called an Expert Advisor. Alternatively, you can try the Oil Profit system trading process on a demo account first.
Is Oil Profit safe?
Based on our research, we can confidently say that Oil Profit is a safe automated trading bot for crude oil. The platform has been endorsed by numerous traders across the globe, which is a testament to its reliability and effectiveness. Additionally, the platform utilizes advanced security measures to ensure the safety of your funds and personal information.
Who can join Oil Profit?
Both beginner traders and experienced traders can sign up for a free account and start trading the crude oil market with the trading bots offered by Oil Profit’s oil trading technology. Oil Profit offers trading bots for both demo accounts and live trading through its native Oil Profit app and other auto trading platforms. Using Oil Profit demo account you can easily test your trading strategy first.
Does Elon Musk use Oil Profit?
Although Elon Musk may have certainly seen Oil Profit’s website, he never endorsed Oil profit, its trading platform, trading bot, or trading experience. However, this doesn’t mean you cannot use leveraged trading and use Oil Profit today to increase your profit margins when trading oil CFDs.
Does Jeff Bezos or Amazon endorse Oil Profit?
There is no public evidence to suggest that Oil Profit endorsed Jeff Bezos or Amazon . While some trading platforms may use endorsements from prominent figures or companies to enhance their reputation, it’s important to verify the authenticity of any endorsements before making a decision to use a trading platform. In the case of Oil Profit, the platform has been endorsed by numerous traders across the globe, but there is no evidence to suggest that Jeff Bezos or Amazon have publicly endorsed the platform.
What devices can I use to access Oil Profit?
You can access the Oil Profit trading platform and use Oil Profit to trade the crude oil market on a vast majority of devices, including desktop PCs, laptops, tablets, and smartphones. As your trading experience may vary across devices, we recommend to use Oil Profit on multiple devices to see which trading platform you prefer.
What Exchanges And Brokers Does Oil Profit Partner With?
Oil Profit is partnering with numerous top brokers. Nevertheless, it’s impossible to find any important broker in the bot listing. When you partner with a broker, you need to make sure that the broker has complied with the rules in their jurisdiction. A great broker follows a specific set of rules in order to ensure a reliable platform.
Are there Oil Profit Reviews on Reddit and other Forums?
Reddit is an online community where users can write comments regarding different company experiences. Some good reviews of Oil Profit say the bot is easy-to-use. It also helps you quickly determine markets, trends, and trades that may have potential benefits.
Are there Oil Profit Reviews on Trustpilot?
Numerous users have left positive feedback about Oil Profit on Trustpilot, highly recommending the platform to both novice and professional traders. Similarly to Reddit, users have praised its reliability and ease of use, particularly when compared to other platforms. The platform’s security is also noteworthy, as its encrypted contents are fully integrated with top-tier brokerages to ensure the safety of users’ funds and personal information.