Oil Profit review

Oil Profit is a trading robot that has devised an automated trading system for crypto, oil, and other financial assets. This Oil Profit review explores the service, its pros and cons, and examines whether Oil Profit is legit or a scam.
By: James Knight
James Knight
James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock market, to… read more.
Updated: Jan 18, 2023
4/5 Star rating
15 min read
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This Oil Profit review looks at how the automated trading system works and what you can trade with it. Find out whether Oil Profit is a genuine piece of trading software and whether it’s best suited to beginners or experienced traders.

We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Pros & Cons

Pros:

Simple sign up process
Start trading oil and crypto for free
Automates up to 20 trades per minute
Fast withdrawals

Cons:

What is Oil Profit?

Oil Profit is an automated trading robot. When you sign up and deposit money to the platform, it uses its bespoke trading software to suggest which trades you should make and when. It has created a simple, beginner-friendly trading platform to make crypto and commodity trading accessible to everyone.

Oil Profit summary

FeatureOil Profit
Supported assetsOil, commodities, cryptocurrencies
FeesNo fees
Success rate98%
Minimum deposit$250
Mobile appYes
Withdrawal speed24-48 hours
Demo accountYes
Leverage available1000:1
Customer support24/7
Verification requiredYes
RegulationsCySEC
More Oil Profit features

About the Oil Profit platform

How does Oil Profit work?

Oil Profit works by using artificial intelligence to place trades for you. You sign up and set the guidelines on how you’d like to trade, and then the Oil Profit robot automatically decides what to trade and when. It’s designed to work best with oil trading, but the trading process also works for other assets.

Once it has identified an opportunity, it sends the trade details to a regulated broker who executes the trade. You don’t need to do anything other than sign up for the trading robot and set up an Oil Profit account. All the live trading is taken care of by the Oil Profit trading system.

Normally, you must spend time researching an asset and performing your analysis to decide when to trade. Oil Profit has made all that unnecessary by automating the research process. You can easily trade the crude oil market or digital assets, even if you’re a beginner.

What assets and products can be traded on Oil Profit?

Oil Profit’s strategy was designed to work with crude oil trading and the rest of the energy market. However, Oil Profit can also be used as a crypto trading robot, as the strategy works for Bitcoin, Ethereum, and other cryptocurrencies too. Here’s a list of some of the assets you can trade using the Oil Profit automated trading system. 

  • Crude oil
  • Natural gas
  • Other commodities
  • Cryptocurrencies
  • Bitcoin
  • Ethereum

How much does Oil Profit cost to use?

Setting up an Oil Profit account is free, but you can’t use any of its technology for oil trading until you have deposited $250 into the platform. You may also find extra costs in the form of trading fees.

Oil Profit partners with various trading platforms and uses crude oil trading strategies through those brokers. Brokers normally charge a fee or commission per trade. This is normally no more than a few pounds each time, but it can increase over time if you use the Oil Profit account to place lots of trades.

What are the payment methods accepted by Oil Profit?

You can use various payment methods when depositing funds while using Oil Profit. It’s important to remember that you won’t deposit money with the Oil Profit automated trading bot itself, rather you will deposit funds with a regulated trading broker. Here’s a list of the available deposit methods for Oil Profit. 

  • Credit card
  • Debit card
  • Bank transfer
  • Bitcoin

Is there a Oil Profit app for both mobile and laptop computers?

There is an Oil Profit app that you can download from the App Store for iOS devices, or the Google Play Store, for Android. You can also visit the Oil Profit website from your phone’s web browser and live trade the commodity and crypto markets. You can also use the Oil Profit app from your laptop or desktop computer. 

Oil Profit key features

The Oil Profit automated trading system has many key features, and compared to other trading bots, it offers a lot. Here are some of the top features of Oil Profit

Focus on commodity trading

Oil Profit’s live trading robot works well for commodity trading. This service focused on crude oil trading which is unusual, as most automated trading software is only designed for crypto or forex trading.

Works on other assets like cryptocurrency 

Commodities like crude oil act very differently in the fast-moving world of currencies and cryptocurrencies. It can be hard to find a trading system that wants to help diversify your portfolio into oil rather than one designed purely for Bitcoin or other cryptos

Automated trading system

Oil Profit uses an automated trading system to help you trade. An automated system takes all of the efforts out of live trading because you don’t have to do any of the work yourself. Oil Profit scans the oil markets automatically and sends out trading signals as soon as it finds an opportunity.

Fast withdrawals 

Oil Profit withdrawals take place in less than 48 hours. When you request a withdrawal, Oil Profit immediately processes the request, and it’s added to a queue to be paid out. Many payments arrive in your bank account within 24 hours.

Which brokers can I use with Oil Profit?

The Oil Profit platform partners with brokers that offer CFDs in commodity trading and cryptocurrency trading. Research suggests that some of these platforms include UFX and 24 Option, but this information is not available anywhere on the website.

Can I trade assets with leverage?

Yes, although the Oil Profit bot does not provide specific information about the leverage available, our research indicates that it is possible to obtain up to 1:000. Every trading broker will have slightly different levels of leverage available so this figure may vary depending on the trading platform you go with. 

Can I open long and short positions with Oil Profit?

Yes, opening long and short positions with Oil Profit is possible. As the price of commodities and cryptocurrencies does not move in the same direction all the time, Oil Profit captures both directions using its automated trading software. 

A long position is when you expect a market’s price to increase, while a short position is when you anticipate a move lover for a specific asset. 

How do I get paid? What about payouts?

When you have made profits using the Oil Profit live trading system, you can withdraw your money anytime. There are no restrictions on the amount of money you can withdraw from the trading platform. Usually, withdrawals are processed right away and can take between 24- 48 hours to hit your bank account. 

What is Oil Profit’s customer service like?

Customer service on the Oil Profit automated trading system is available 24 hours a day. As soon as you sign up and register an account you can contact customer support whenever you wish. You can use the usual channels such as live chat and email. 

Safety and security

Is Oil Profit safe to use?

We found plenty of oil investors who have gone through the trading process without any problems. However, you should always be careful when you sign up for automated trading platforms, particularly those that trade digital currency. Crypto market conditions can change rapidly and there is no guarantee of making money.

Is Oil Profit regulated?

Oil Profit is an automated trading software and is not regulated itself. However, its partner brokers are regulated by authorities across Europe. Most of Oil Profits partner trading brokers are licenced by CySEC, the Cyprus Securities and Exchange Commission.

Is my money protected on Oil Profit?

When you use the Oil Profit system, you do not deposit money with the platform, instead, you deposit funds with brokers it is partnered with. It is partnered with trading brokers from Europe that are regulated by CySEC. Furthermore, CySEC-regulated brokers also offer compensation if a trading platform ever goes insolvent. 

Who owns Oil Profit?

During our research into Oil Profit, we could not find any information about its owners names. But we do know that Oil Profit was created by a team of financial traders, many of who are also software developers and have specialist expertise in the commodities markets.

It is not uncommon for trading software developers to remain anonymous due to privacy concerns. In the case of Oil Profit, while its creators names are hidden, there is enough information available to confirm the experience and expertise of its owners.

What is the registration and verification process?

It is very easy to register an account with Oil Profit and you will only need to provide your basic contact information. In the guide below, we have explained the exact steps you need to follow to register an Oil Profit trading account. 

How to start trading with Oil Profit

Step 1. Create an account with Oil Profit

Go to the Oil Profit website and fill out the registration form. All the signup process requires is that you provide your name, email address, and phone number. Enter these details in the box and press ‘Get Started Now’.

 

Step 2. Make a minimum deposit of $250

To start trading crude oil and other commodities, you need to meet the Oil Profit minimum deposit amount of $250 into one of its partner brokerage accounts. You will be able to use fiat currencies when making your deposit using a range of different payment methods.

Step 3. Set up your Oil Profit trading system

Once your account is created, you will need to set up the Oil Profit trading system. There are lots of different settings you can adjust and it’s important to take your time at this stage to make sure it’s set up correctly.

Step 4. Adjust risk management settings

The most important part of setting up Oil Profit is to adjust the risk management settings. You should choose risk parameters that you are comfortable with and never set them too high, unless, of course, you want to gamble. Its recommended that you keep your risk low.

Step 5. Start investing with Oil Profit

Now you’re When all your accounts are set up, you gain access to the Oil Profit trading platform. Decide how you want Oil Profit trades to work for you, set the trading parameters, and assess how much risk you’re willing to take on. Now you’re ready to use Oil Profit today.

Is it true that Jeff Bezos endorsed Oil Profit?

Despite many claims online, there is no evidence to suggest that Jeff Bezos endorses the Oil Profit system. Jeff Bezos is one of the richest men in the world and the founder of Amazon. 

Fact Check. False. There is no evidence that Jeff Bezos has anything to do with Oil Profit. 

Is it true that Martin Lewis uses the Oil Profit website?

Martin Lewis is known as the ‘money saving expert’ and although there have been many rumours about his involvement with the Oil Profit community, our research indicates them to be false. 

Fact Check. False. Martin Lewis does not use the Oil Profit website

No, Oil Profit has never been mentioned in Dragon’s Den. Nor has it been endorsed by any of the dragons themselves.

Fact Check. False. Oil profit has never appeared on an episode of Dragons Den

Is there an Oil Profit alternative?

There are lots of automated trading bots on the market and if the Oil Profit system isn’t for you, you can check out some of the options below. 

  • BitIQ uses programmed software to buy and sell a wide range of crypto coins and is one of the top-rated bots currently available.  
  • Immediate Edge is one of the most used cryptocurrency trading robots around and finds trades in the whole of the crypto market. 
  • Bitcoin Motion is a good option if you want a robot that trades the Bitcoin market. It also can be used in the wider crypto space. 
  • Ethereum Code is a cryptocurrency trading bot that operates on the Ethereum blockchain. 
  • Bit Index AI is programmed to use artificial intelligence to identify trading opportunities in the crypto market.  

Our top robot trading tips for beginners

  1. Familiarise yourself with trading. Before you start using a trading robot it’s important you have a basic understanding of the trading process. With this knowledge, you will be better equipped to set up your bot. 
  2. Understand commodities space. The commodities market is similar to most others, but it moves in different ways. It is helpful to understand what drives prices in assets like gold and crude oil. 
  3. Practice with a demo account. Trading bots all claim to be highly profitable but you should never risk one unless you have first tested it in demo mode. This way you won’t risk any of your own money until you are confident it will generate profits. 
  4. Start small and build gradually. It is recommended to start slowly and build as you go along. Small profits can quickly equate to large gains so take your time when using an automated trading robot. 
  5. Only invest what you can afford to lose. Never risk more than you are comfortably able to lose. Robots and oil trading markets can change very quickly so it’s best to not stick all of your eggs in one basket. 

Our final verdict on Oil Profit

Oil Profit is an automated trading robot that has the potential to make crypto and crude oil trading accessible to everyone. The signup process is quick and easy and it provides a simple way for beginners to trade the oil market, oil stocks, and a wide array of digital assets.

Online Oil Profit reviews from existing customers are generally positive and suggest that many users have found it to be a reliable and trustworthy trading platform. However, there are a few areas of concern, like the fact that the Oil Profit app has no reviews and there is a general lack of information about how the trading robot works.

If you are interested in using the Oil Profit robot, we recommend being careful when you first start out. Take time to understand how the system works and start by trading small amounts rather than placing large trades straight away.

Methodology: How did we research this Oil Profit review?

Every time we review a platform we run a series of tests to see how it performs relative to the competition. The tests involve signing up to create an account, depositing some money, and placing a trade. 

We rate the platform based on each test and combine that information with further online research to reach a final score. The further research includes things like looking up customer reviews and looking for evidence of celebrity endorsements.

The final ranking is recorded as a score out of five stars. No platform can influence the score in any way but we may be paid a fee if you use one of the links on this page to sign up with a partner service. Learn more about how we make money and our review process.


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.