Oil Profit Review – Scam or Legit?

Over the past decade, the rapid advance in technological innovation has provided numerous ways for traders to generate returns passively. One of the most efficient ways is to use an automated trading robot – with Oil Profit being one option that has attracted a great deal of media attention.

This article presents our in-depth Oil Profit review, covering everything you need to know about the robot before showing you how to begin automating your trading today – all in less than ten minutes.

Oil Profit Summary

Before diving into our Oil Profit review, let’s briefly summarize the key points to be aware of in relation to this robot:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is Oil Profit?

Oil Profit is a Bitcoin robot that is ideal for automating the trading process. Like all of these robots, Oil Profit removes the need for any manual input into the trading process by identifying opportunities on the trader’s behalf. Once an opportunity is identified, Oil Profit automatically places a trade – ensuring it is executed at the optimal time.

Unlike humans, Oil Profit is not subject to psychological biases or emotions, meaning that the trading process is much more streamlined. In addition, Oil Profit employs advanced AI-powered algorithms informed by Big Data, enabling the robot to buy Bitcoin at the optimal time. These algorithms consider various analysis types, including fundamental, technical, and news-based.

Oil Profit’s claimed success rate is 90%, although we could not verify this during the research for our Oil Profit review. However, the robot is entirely free to use and only requires a minimum deposit of $250. Oil Profit also partners with a selection of top cryptocurrency trading platforms to facilitate users’ trades quickly and safely.

Who Owns Oil Profit?

It is not exactly known who is behind Oil Profit as the founders are anonymous, but the group is said to include former professional traders and software developers.

There have been claims that the likes of Elon Musk, Jeff Bezos and other high-profile celebrities and investors are involved with the platform, but we could find no evidence that was the case.

Furthermore, there have also been claims that Oil Profit was featured on Dragons’ Den and other TV shows but we could not find any evidence of that, either.

Oil Profit Pros & Cons

Now that you have an idea of what Oil Profit is, let’s take a quick look at the robot’s pros and cons:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does Oil Profit Work?

So, how does Oil Profit work? Essentially, Oil Profit is designed to buy cryptocurrency on your behalf, removing the need to conduct analysis or monitor price charts. The robot operates 24/7, ensuring that viable trades are always acted on.

Underpinning the Oil Profit trading robot are advanced algorithms powered by artificial intelligence. These algorithms are claimed to identify trade opportunities quicker than a human can, providing a higher chance of a profitable trade. As an added benefit, the robot avoids unprofitable trade opportunities, which humans can sometimes act on through emotion or ‘fear of missing out’ (FOMO).

Once Oil Profit is set up and ready to go, it will work in the background throughout the day, scanning the market for trades. The robot will instantly open a position based on your predetermined risk level when a trade opportunity is noticed. Oil Profit will then monitor the position and calculate the ideal time to close it, at which point any profits will be placed into your account balance.

As you can see, this process is much more streamlined than spending hours each day in front of the charts, trying to find profitable opportunities. Although Oil Profit only trades Bitcoin (BTC), there is scope for trades to be placed on a daily basis since the robot seeks out small and consistent profits. Furthermore, due to the nature of Oil Profit’s algorithms, users can benefit regardless of market conditions.

On What Devices Can I Use Oil Profit?

Oil Profit is web-based and available on any device that has an internet connection and browser, meaning it can be used on smartphones – both Android and iOS – tablets, laptops and desktop PCs.

There is no dedicated app for the platform.

Which Exchanges and Brokers is Oil Profit Partnered With?

Oil Profit partners with numerous brokers but we were unable to verify exactly which as each individual user is partnered with a different one.

Many of the brokers are regulated by tier 1 financial authorities such as the FCA in the UK and ASIC in Australia – it is important to verify your broker is regualated.

Can I use Oil Profit in My Country?

Oil Profit is available in numerous countries around the world, including the UK, Canada and Australia, with the only notable exception being the USA.

See below for a select list of availability:

How Much Profit can be Made from Oil Profit?

Oil Profit comes with a claimed win rate of 90%, although we could not verify that claim doing this review.

Oil trading can be extremely lucrative but it is not advised to get into the market without first having in-depth knowledge of it, as it is inherently risky and some trades will inevitably lose.

We would advise regularly monitoring the performance of the bot and only investing an amount that you can afford to lose.

Note that tax is applicable on profits in many countries.

Oil Profit Key Features

As our Oil Profit review has highlighted, this robot appears ideal for traders who do not have time during the day to conduct the necessary analysis for consistently profitable trades. With that in mind, let’s take a look at some of the robot’s key features to be aware of:

AI-Powered Algorithms

Oil Profit is designed to help traders make money with cryptocurrency regularly, thanks to its AI-powered algorithms. These algorithms are entirely objective and remove any trading biases, which provides scope for more profitable trades. In addition, Oil Profit can trade during periods of intense volatility since the underlying technology is not subject to any emotional interference.

Free to Use

One of the key things we discovered during our Oil Profit review was that the robot is completely free to use. There are no sign-up fees or monthly subscription fees, with users only needing to provide a $250 deposit to begin trading. However, since Oil Profit partners with external brokers, there may be fees charged by those platforms for trade facilitation.

Built-In Demo Account

Thanks to its built-in demo account, all users can test the Oil Profit robot using paper money. This account works in precisely the same way as the live account, except without the worry of losing money. Ultimately, this allows beginner investors to become acquainted with the platform before deciding if they wish to proceed with real trading.

Customizable Parameters

You can tweak Oil Profit’s trading settings to suit your risk tolerance and investment goals. Elements such as stop-loss size and trading times can be altered, ensuring that Oil Profit trades in accordance with your objectives.

Can Trade on Multiple Platforms

The Oil Profit website notes that the robot can be accessed via a browser-based platform, a tailor-made mobile app, or MetaTrader 4 (MT4). This is one of Oil Profit’s main benefits, as it allows traders to monitor the robot’s activities whilst on the go. In addition, the fact that Oil Profit can integrate with MT4 will appeal to experienced traders.

Speedy Withdrawals

Finally, although the website doesn’t directly mention this, numerous Oil Profit reviews note that the withdrawal process is both user-friendly and incredibly speedy. Withdrawals can be facilitated in less than 48 hours, ensuring that you can spend trading profits not long after they are earned.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

Oil Profit Fees

As noted above, Oil Profit doesn’t charge any fees when using the automated trading software. This approach means there are no subscription fees, commissions, or conversion fees to worry about whatsoever.

The only thing to keep in mind is that the brokers and exchanges Oil Profit partners with may charge their own fees when facilitating trades. These fees are not set by Oil Profit and can include transaction fees and withdrawal fees, although they will vary from platform to platform.

Is Oil Profit a Scam?

Given the information presented up until this point, it’s natural to wonder, Is Oil Profit a scam or is Oil Profit Fake? Much like our BitIQ review, it’s challenging to make a clear assertion on this point since Oil Profit’s website does not have any verified testimonials.

In addition, the success rate that is attributed to Oil Profit (90%) is not certified by any third-party companies (like Myfxbook) and could not be verified by us, meaning that it may be lower than stated.

However, Oil Profit reviews from some high-profile websites present glowing praise of this trading robot – although these reviews are ultimately subjective, or could be paid for, it does provide an element of credibility to Oil Profit’s services.

Having scoured social media sites such as Twitter and Reddit, Oil Profit reviews have huge variance, with many saying they have had a good experience with the site, while others describe it as a scam.

Respected peer-review website TrustPilot carries just a 1.8-star rating from more than 20 reviews, with the vast majority of those only giving one-star – although many are from 2021 and before.

Facebook ads connecting high-profile celebrities such as Elon Musk and Jeff Bezos to Oil Profit should be avoided and have been known to be set up by scammers.

Finally, the fact that Oil Profit provides a free demo account is vital to eradicating any concerns that potential users may have. This account allows users to try Oil Profit with no risk – and there is no obligation to make a deposit if the robot turns out not to be to your liking.

Oil Profit Minimum Deposit

Since Oil Profit partners with some of the best crypto exchanges for BTC trading, the robot does have a minimum deposit requirement to trade effectively. However, this requirement is only $250, which is less than several top brokers require. Once the deposit is made, Oil Profit can begin trading right away – and you can even withdraw your trading balance at any point if you are unhappy with the robot.

Oil Profit Celebrity Endorsements

Oil Profit has continually been linked with investment from famous celebrities and investors, but we found no evidence that were real – with the Facebook ads suggesting so likely targeted scams.

Was Oil Profit on Dragons’ Den?

We found no evidence that Oil Profit was ever featured on Dragons’ Den in the UK, Shark Tank in the US or any other TV show.

Does Elon Musk Endorse Oil Profit?

No. Despite claims on some social media adverts, we could not find any connection between Elon Musk and Oil Profit.

Does Jeff Bezos or Amazon Endorse Oil Profit?

We found no evidence that either Amazon or billionaire Jeff Bezos are connected to Oil Profit.

Oil Profit Customer Support

Customer support is vital when it comes to trading robots, as they are often used by beginner traders who may have questions concerning how the robot operates or the trading process. Fortunately, Oil Profit has a dedicated customer support team, with various online reviews noting that the team is available 24/7.

The Oil Profit website features a ‘Contact Us’ section with a form that users can fill in. Once sent over, the Oil Profit team will review the query and respond using the email address that the user provided.

How to Withdraw Money from Oil Profit?

User funds are not stored on the Oil Profit platform and are instead held by the broker.

Users must, therefore visit the broker platform to withdraw there funds. Note that Oil Profit brokers will not pay out in crypto but in fiat.

• Visit the broker website and log into account
• Visit the wallet and select currency
• Enter the amount to withdraw
• Begin withdrawal process – the transaction taking up to 24 hours to complete

How to Delete Oil Profit Account?

Deleting an Oil Profit account should be simple and requires just following brief steps in the settings menu.

It can also be done directly on the broker platform.

Those struggling to delete the Oil Profit account should contact customer support.

Latest Bitcoin News

The most profitable investors and traders are sure to keep up with the latest news and trends to hold an edge over the rest of the market. With that in mind, here are some of the top headlines from the week ending January 29, 2023:

• Arizona state senator, Rep. Wendy Rogers, has put forward a bill that will attempt to make Bitcoin legal tender in the state.
• Mango Labs is suing Avraham Eisenberg for the $47 million he allegedly still holds after executing an attack on Mango Markets by manipulating the price of Mango token.
• US authorities allege Sam Bankman-Fried used misappropriated FTX funds to invest $400 million in the relatively unknown VC fund Modulo Capital.

Oil Profit Review – The Verdict

In summary, this Oil Profit review has taken an in-depth look at the trading robot and how it works, ensuring you can invest effectively. Many of Oil Profit’s claims are still unverified, including the claimed 90% win rate, while customer reviews are extremely mixed.

However, the fact that the robot features a free demo account allows you to test out its features before using real money is encouraging.

If you’d like to get started with Oil Profit today, simply click the button below to begin registration. The sign-up process can be completed in minutes, meaning you can be ready to start trading almost instantly.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

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