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An Honest Oil Profit Review in 2022

Last updated 17th May 2022
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Oil Profit is an automated trading service that allows users to buy and sell contracts on the price of oil and other commodities. The platform lets users adjust parameters or enable live trading to make automated trades on their behalf. The bot pairs with various brokers who hold your deposits and profits. Within this article, we’ll be looking at Oil Profit’s key features, advantages, disadvantages, and more. We’ll decide if Oil Profit is worth your money or if you should try alternative trading methods.

5/5 Star rating
Easy to use
For Superstar traders
High success rate

What Is Oil Profit?

Oil Profit works like many cryptocurrency automated trading. However, instead of trading crypto assets, users trade oil contracts tied to the value of the natural energy source. The bot uses specific algorithms to judge the market and make automated trades. Alternatively, users can set parameters or experiment with a demo account until they are satisfied with a trading strategy; the bot will only make trades according to your parameters.

Oil Profit claims it makes profits for account-holders. However, no trading bot can guarantee their algorithms will make money. Trading bots are one of the most unreliable ways to place trades. The company sells the oil market on its homepage but does not mention the various risks associated with auto trading, so proceed with caution.

Oil Profit Overview

🤖 Robot Type:Trading Robot
💸 Minimum Deposit:$250
✅ Is It a Scam or Legit?Legit
🚀 Claimed Win Rate:90%
💰 Trading Fees:None
💰 Account Fees:None
💰 Deposit/Withdrawal Fees:None
💰 Software cost:Free
⌛ Withdrawal Timeframe:24 Hours
💱 Supported Cryptocurrencies:BTC, BCH, LTC, ETH
📱 Native Mobile App:No
🖥️ Free Demo Account:Yes
🎧 Customer Support:Email, Phone
✅ Verification required:KYC
🔁 Automated Trading:Yes
📈 CFD AvailableYes
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Pros and cons of using Oil Profit

Pros

Numerous brokers to choose from
Easy to set parameters for a custom trading strategy
Automated processes streamline trading practices

Cons

Numerous false reviews online
Trading bots are notoriously unreliable

Oil Profit Markets, Assets, And Options

What Assets And Products Can You Trade Using Oil Profit?

One of Oil Profit’s selling points is that it offers contracts on oil. As such, you’ll be able to trade on the price of oil and other natural commodities. If you are looking for a trading bot that offers cryptocurrencies, you should look somewhere else.

What Leverage Trading Options Are There?

Oil Profit does not provide information about leveraged trading on its website. However, most trading bots do allow leveraged trading.

Leveraged trading involves the broker lending an amount of money greater than your deposit to maximize your potential profit. So, if you were to trade with 1000x leverage on a $100 stake, you’d be able to execute trades worth $100,000.

Keep in mind leveraged trading is one of the quickest ways to lose all your funds. If you are not careful, you can end up in a lot of debt. We recommend trading with leverage through regulated brokers only and never lending more money than you can afford to pay back if you make a loss.

What Are The Spreads?

Oil Profit is not forthcoming when it comes to spreads. Different brokers may offer their own spreads; contact them if you need more information. Bear in mind spreads will often change as the price of oil goes up and down.

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Fees, Limits, And Payment Options On Oil Profit

How Much Does Oil Profit Cost?

Every user needs to pay a $250 deposit when they create their account. Users cannot enable auto trading until they have paid. There are no other subscription or membership costs.

What Are The Payment Methods Accepted By Oil Profit?

Oil Profit accepts numerous payment methods, including:

  • Credit card

  • Debit card

  • Skrill

  • TrustPay

  • SafeCharge

There are other payment options available, though you cannot pay via some popular means like PayPal, Venmo, GooglePay, or ApplePay.

Withdrawals will go straight to your preferred payment method. Users may incur additional charges from their bank.

Some deposits may take up to 7 working days to reach your account.

Does Oil Profit Also Charge Fees And Commissions?

Oil Profit does not charge any fees for making withdrawals or deposits.

However, account-holders need to pay a small commission whenever they make a profit. This commission will be taken from your account and you won’t have to pay anything extra.

Oil Profit Trade Sizes And Limits

Oil Profit does not have any information regarding minimum trading limits, though the minimum deposit is $250. There is no maximum trading limit. These figures can change between brokers. Contact your broker for more information.

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Oil Profit Platform

How Does Oil Profit Work?

Oil Profit works by using algorithms, APIs, and user-defined parameters to make trades on oil and other natural fuel assets. Users purchase a contract on oil’s price and attempt to sell at a higher price for profit. Users can trust Oil Profit to make automated trades or alter parameters so the trading bot executes their trading strategy. Oil Profit offers a demo trader so you can get to grips with the platform risk-free.

What Devices Can I Use Oil Profit On?

Oil Profit works on many devices, as long as they are connected to the web. Oil Profit is entirely web-based and does not have a dedicated mobile application. However, it works on all major browsers including Safari, Chrome, Firefox, IE, and some others.

Typically, Oil Profit works on these devices:

  • Tablets

  • Laptops

  • Computer

  • iOS

  • Android

What Exchanges And Brokers Does Oil Profit Partner With?

Oil Profit works alongside many top brokers. However, we could not find any of the major brokers on the trading bot listings. When you are paired with a broker, take the time to research their name and ensure they follow regulations in their jurisdiction. The best brokers will follow certain rules to ensure their platform is safe and secure.

Can I Use Oil Profit In My Country?

Oil Profit is available in any country that allows CFD trading. Some of these locations include:

  • UK

  • Germany

  • Sweden

  • Spain

However, Oil Profit is unavailable in the United States and certain other countries where CFD trading is illegal.

Is Oil Profit Available In My Language?

Oil Profit has a drop-down menu at the top of the page with a select number of languages. The available languages include:

  • English

  • Spanish

  • Dutch

  • Polish

How Easy Is It To Use Oil Profit?

Oil Profit automates most of its trading process to make CFD trading very easy. The platform allows some control over parameters, but the bot determines the exact trades. Oil Profit analyzes the market to identify the best trades according to its algorithm, so you don’t need too much experience to get the most out of the service.

Similarly, the interface is straightforward and streamlined, whether you are on a mobile or desktop device. Users can view up-to-date charts to inform their trading strategy and utilize a demo account until they know how the site works.

Although Oil Profit is easy to use, this does not mean you’ll make accurate trades. Trading bots are financially risky and you’re more likely to lose your deposit and more if you choose high leveraged trading options. Make sure you do enough research and understand the market fully before using a trading bot - this type of platform should be used sparingly.

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Key Features

Oil Profit has various features for account-holders to enjoy. These include:

User-friendly Interface

Oil Profit’s interface works well on most devices and the automated trading tools ensure anybody can try CFD trading, regardless of their knowledge or experience.

Algorithms And Market Analysis

Oil Profit utilizes algorithms and trading signals to place trades. Sometimes these trades result in profit. However, the bot is most effective when you exercise control by setting your own parameters.

Demo Account Available

Oil Profit users can use a demo trading account to develop their oil trading strategy and get used to the website without risking their money. If you are new to trading or want to be prepared, the demo account should be the first thing you try on Oil Profit.

Security And Regulation

Is Oil Profit Legit?

Oil Profit operates in the same way as many other auto trading bots, which is why you should treat it with extreme caution. There are plenty of trading bots with the same layout - some let you trade oil assets, others let you trade cryptocurrencies. They all ask for $250 deposits for automated trading services and even have similar text on the homepage.

We also found many reviews online from disgruntled customers who struggled to contact customer support, withdraw funds or use Oil Profit as advertised. We could not verify whether the algorithms make accurate trades. Remember, no trading bot can predict which way the market is going to go.

Is Oil Profit Safe?

Oil Profit has numerous anti-virus and anti-malware software logos on its website. However, we could not verify whether Oil Profit uses this software. Oil Profit does use SSL encryption to keep financial and personal information safe from hackers. The platform also requires account verification and KYC authentication before users can progress to live to trade.

Also, Oil Profit gives information to third parties. If you want to find out more, you can view Oil Profit’s privacy policy on the website.

Am I And My Money Protected?

Oil Profit is not responsible for your funds and cannot guarantee the safety of your deposit. Brokers are responsible for your funds and hold them in a wallet on their website. Speak to your broker if you’d like to know about their security features.

Is Oil Profit Regulated?

We could not verify whether Oil Profit is regulated in any jurisdiction. Some of the partnered brokers may be regulated but you’ll need to confirm this with the broker directly. We strongly advise trading through regulated brokers only.

Do I Have To Verify My Account With Oil Profit?

Yes. Users need to verify their account on Oil Profit. However, the registration process does not take very long to complete. Users will need to confirm their email address and provide proof of address and identity during the broker’s KYC questionnaire.

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Extra Information

Educational Resources

Oil Profit has some basic information about the oil market on its homepage. However, there are no other articles or blogs linked to the site. If you want to educate yourself, you’ll need to do your own research. There is a small FAQ section but this does not have much information about oil trading outside of Oil Profit.

Tools And Charting

Oil Profit does not have too many tools aside from custom parameters to implement your trading strategy. Most trading tools are automated. However, you can also view charts and keep up-to-date with the asset market.

Customer Support

Oil Profit has a customer support service. Users can contact customer support via email and phone. An advisor will be happy to help with any queries. Non-users can contact Oil Profit through a contact form on the website.

How To Get Started With Oil Profit

Complete these steps if you want to create an Oil Profit account.

  • Step 1 - Complete the registration form

The first thing you need to do is fill in the Oil Profit registration form. Input your details and confirm your email address.

  • Step 2 - Talk to an advisor

Once you sign up, you’ll need to speak to an advisor from a paired broker. You’ll need to complete the KYC process to proceed.

  • Step 3 - Add funds into your broker account

Account-holders need to deposit $250 before they can enable live trading.

  • Step 4 - Use the demo trading account

Test the Oil Profit demo account to make sure the website is for you. Learn the ropes, practice trading, and understand the auto trading feature before you make any real trades.

  • Step 5 - Now you can start trading.

Get Started today with Oil Profit

Is there a Oil Profit alternative?

Yes, there are many more crypto robots available. If you don't want to use Oil Profit, check out some of our other reviews:

Crypto RobotMinimum DepositRead our review
Bitcoin Lifestyle$250Read our Bitcoin Lifestyle review
Bitcoin Evolution$250Read our Bitcoin Evolution review
Bitcoin Champion$250Read our Bitcoin Champion review

Final Thoughts On Oil Profit

While Oil Profit may seem like an easy way to make money, trading bots are best avoided unless you have an in-depth knowledge of the oil market. The interface works well and parameters are easy to change, but you can not guarantee Oil Profit will make accurate trades on your behalf.

We recommend developing a trading strategy and researching the oil market until you understand the best times to buy and sell CFDs. We suggest reading informative articles, expert blogs, and keeping up with the latest trends. In addition, make sure you choose a regulated broker and don’t leave your trades in the hands of a bot where profits are not guaranteed.

Stephen Ngari

Stephen Ngari

Stephen is a seasoned crypto and fintech specialist with industry experience. Having worked in tech, helping people send money globally and rollout solutions, he understands the impact that tech like blockchain brings to real world issues. He is passionate about crypto, writing and basketball.