OIL Profit review – Is it a scam or not? – Real test of the robot
(4 / 5)
Looking for a trustworthy and legit trading robot can be a daunting task, especially if you are new to the trading scene. Not to mention the amount of scam trading robots out there that are designed to draw you in and take all your money.
When looking for a trading platform that offers auto-trading, there are a few things that you should consider. Is it reliable? Can you actually make a profit off of it? Is it partnered with reputable brokers? Does it have the tools and features that you need? These are just a couple of questions that you should ask before you invest in a particular trading robot.
We will focus on OIL Profit, one of the available trading platforms that offer auto-trading, in this review. All the questions mentioned above will be answered, and we will also talk about the platform as a whole, as well as its features and services.
What is OIL Profit? – The robot presented
OIL Profit is an automatic trading robot that specializes in dealing with oil CFDs. It uses artificial intelligence or AI to go through all the oil CFDs to form predictions for the users. According to users, OIL Profit clients can earn up to 80% of their initial deposit daily.
Since it is basically a trading robot, it does most of the work for the users. The only thing the user needs to be able to trade oil CFDs with OIL Profit is a stable internet connection, a desktop computer, mobile phone, or tablet, and cash.
OIL Profit doesn’t only offer oil CFDs to its clients. With this trading robot, you have the option to invest in different assets, including currencies as well as commodities. Users don’t require extensive knowledge of the trading market, but you should at least familiarize yourself with the different terms used in the trading world.
Regulation and safety
Just like any trading robot on the market, OIL Profit has forged partnerships with various brokers. These brokers are allegedly regulated and reputable, but we still suggest that you be extra cautious when dealing with any trading bot.
Based on various user reviews, OIL Profit seems to be profitable and legit. According to the website, it protects its user’s data from hackers with a sophisticated encryption method. Additionally, the trading robot only shares your data with the broker assigned to you.
Although the reviews claim that this robot is safe, proceed with caution at all times. It’s never a good idea to invest all your hard-earned cash in trading. After all, this form of investment will always carry risks because of how unpredictable the market is.
How does it work? – The trading platform
OIL Profit’s algorithm is designed to scan the market for profitable assets, and it is capable of formulating predictions that are fairly accurate. It is used by traders and even non-traders to invest in oil CFDs or oil Contracts for Difference and other assets available on the platform. These oils come in various forms, like options contracts, futures, and forwards.
Using an automatic trading robot means you don’t need prior experience to be able to profit from these digital assets. Depending on your settings, market conditions, and how well the trading bot performs, you can profit from oil CFDs or any other asset with a few clicks of a button.
But there are a couple of things that you have to do before you can start trading using OIL Profit. You will have to go through the three steps that will be discussed below.
Open your free account
The first step is creating your free account. You will need to visit OIL Profit’s official website to access the registration form. Basic information like your complete name, email address, and phone number are required.
The next step is depositing funds into your account. You will need to invest at least $250 to gain access to the platform and features offered by this trading robot. This amount is fairly low compared to other brokers and trading bots and is very beginner-friendly. It’s not too much to scare you away, but it’s just enough to begin your trading journey with OIL Profit and your partnered broker.
OIL Profit supports various payment methods, including Skrill, PayPal, MasterCard, Visa, and wire transfers. The broker assigned to you will be in charge of processing your deposit, which means you will need to give them the necessary information that they need to push through with your deposit. The amount should reflect on your account instantly or within a couple of minutes after you verify your identity and provide proof of address.
Test it with a demo account
This is an optional step when it comes to trading with OIL Profit. However, we highly recommend you take advantage of the free demo account provided by this trading robot and your assigned broker. You can access this after you deposit funds into your account. But don’t worry. You won’t be testing out the platform with the money you just deposited.
Instead, the platform will provide your account with a virtual fund of $100,000. You can use this to test the capabilities of the trading robot and try out the various trading tools available on the platform.
If you are new to trading, you can practice and familiarize yourself with the charts and tools on the platform by using your free demo account. You can also test other strategies and even try to predict the market’s movement yourself to see if you have what it takes to trade manually.
You can easily withdraw your profits from the trading platform by sending in a withdrawal request. You may need to send invalid IDs and proof of address so the broker can process your withdrawal. A maximum of 24 hours is needed to complete the withdrawal process.
OIL Profit is completely free to use, and this trading bot does not take a percentage of your earnings. However, your broker charges a 2% commission fee. This means the broker takes 2% from each of your profitable trades.
If you have difficulty navigating the platform or simply have a question about its service, OIL Profit’s customer support system is available 24/7 via email, phone, or live chat found on the website. Users praise the customer support representatives for their prompt response time.
Conclusion – Oil Profit is a legit trading robot
Investing in digital assets is one way to earn money on the side. It’s a convenient profession because you can do it from the comfort of your own home. But despite the convenience, trading takes a lot of skill and patience.
Manual trading is not for everyone, especially if you just started recently. It’s hard to go through all those charts and predict how the market is going to move. Sometimes, our predictions are way off, and we end up losing everything we invested. Most beginners don’t even know where to start when it comes to trading.
OIL Profit was created to deal with all those problems. The brokers they partner with are trustworthy, and the trading platform is fairly easy to understand. In the event that you encounter any problem, their customer service representatives are readily available and are more than willing to guide you through your trading journey.
But don’t take our word for it. In fact, reading reviews shouldn’t be enough when it comes to picking the right trading robot. It’s crucial that you try out the platform yourself to know if the services provided are exactly what you’re looking for. For some, OIL Profit is the best trading robot, but for others, it may be lacking in certain areas.
Take advantage of the free demo account. Although you will need to make a small deposit of $250 to access this feature, you can withdraw that amount at any time in case OIL Profit’s services don’t satisfy your trading needs.
But it’s safe to say that OIL Profit is not one of those scam trading robots. A lot of factors point toward its legitimacy, including the presence of a demo account. However, keep in mind that you are not guaranteed to turn a profit from all of your trades. Trading is risky business regardless of whether you’re manually trading or trading automatically with the use of a bot.
Frequently asked questions about Oil Profit:
Does OIL Profit have an app?
OIL Profit does have an app, and it is free to download from the website. Once you register from the main website, you will receive an email from OIL Profit. Scroll down until you find the link, and click on it. This will redirect you to the download page for the software.
Can I withdraw my profits from OIL Profit?
Of course, you can! You can easily withdraw your profits from the application. The trading bot supports multiple withdrawal methods as well to make things easier on your end.
Although it’s very tempting to withdraw your money as soon as you turn a profit, we highly recommend you leave a portion of your winnings in your account. You can use it to invest in a different asset, so you have the opportunity to make even more money with OIL Profit.
How much does OIL Profit cost?
OIL Profit does not cost a dime. It is entirely free to use, and it doesn’t charge any fees at all. But keep in mind that OIL Profit doesn’t work alone. It partners you with brokers that may have additional fees. But OIL Profit and the brokers don’t charge a registration fee. The only thing worth mentioning is you need to deposit at least $250 to start using OIL Profit.
How much time should I invest in OIL Profit?
Typically, when trading manually, you need at least 8 hours a day to execute trades while scouring the market and formulating predictions. But when trading using OIL Profit, which is an auto-trading software, you only need at least 20 minutes every day.
Twenty minutes should be more than enough for you to do some light reading as well as calibrate the settings of your trading bot. However, you should take some time to check up on the robot every now and then to see if you will need to change the settings.
Is there a limit to how many trades I can execute with OIL Profit?
There is no specific number as to how many trades you can open with OIL Profit. But according to various user reviews, they were able to execute a huge number of trades on a daily basis.
Is my money safe with OIL Profit?
Definitely! Based on our research, OIL Profit only forges partnerships with highly reputable brokers that are regulated. Regulated brokers adhere to the strict policies of various regulatory bodies, which means they are 100% transparent and don’t charge any hidden fees. Additionally, your information is safe from hackers because both OIL Profit and brokers protect their websites with cutting-edge encryption methods.
Do I need to be a trading expert to use OIL Profit?
Absolutely not! Both professionals and beginner traders alike can use OIL Profit to execute trades automatically. It was designed to do most of the work for the client. All you have to do is set it up and leave it to trade. But familiarizing yourself with the basic terms and reading news articles won’t hurt. In fact, it will help you decide how to set up your trading robot to increase your chances of gaining.
Is OIL Profit available in my country?
OIL Profit can be used by anyone around the world except for traders in the United States of America and Canada. These two countries have laws regarding CFD trading, which means OIL Profit or any other trading robot is not allowed to operate there.