Oil Profit is an automated crypto trading bot that buys and sells bitcoin on behalf of its users. It is powered by intelligent algorithms and machine learning models that analyse the crypto market as discrete data sets to find profitable price patterns. Once set up, it executes trading strategies without human intervention.
Bots have become popular as traders seek tools, technologies, and techniques to be profitable in an increasingly institutional market.
Our Oil Profit review dives into the nuts and bolts of using the trading bot, its pros and cons, factors to consider before using it, its legitimacy, and how to get started.
Oil Profit is a trading bot that helps newbies to compete with professionals in the crypto market and become profitable traders in a short while without the hassle of learning complex strategies, indicators, and techniques.
It also helps advanced traders become even more profitable by providing access to a customised dashboard that allows them to implement strategies that would otherwise be impossible for humans like subsecond arbitrage and flash trading.
Once the bot is set up at the creation of an account, it runs unencumbered by external factors and generates profits for its users.
The creators of Oil Profit are anonymous. Not much is known about them and that is a common occurrence in the crypto space as founders often choose to hide their identities for privacy and security reasons.
However, judging by similar services, they are more likely a team of highly trained financial traders, developers, and mathematicians or statisticians.
Oil Profit uses machine learning algorithms and artificial intelligence to study large price data sets, monitor news trends, predict the best buy and sell times, and execute sub-second trades that benefit from price changes.
The trading bot connects to a third-party broker and relays trade instructions via their trading terminal. For example, at an appropriate price point, the bot will send instructions to the broker to buy BTC and send another to sell when the price has appreciated to a predetermined level.
The bot works with regulated brokers to enforce stop losses and take profit levels, and access user funds. Once set up, Oil Profit will run in the background unencumbered, making trading a semi-passive income stream.
To ensure safety, Oil Profit never stores its users’ funds. Instead, it works with reputable third-party brokers to access and trade funds. These brokers are regulated by the Cyprus Securities Exchange Commission to ensure funds are in a regulated environment.
When users wish to withdraw, they can do so within 48 hours by filling out a withdrawal form.
Oil Profit has a customer service team on standby to help with any issues that may arise, or to help users set up their accounts. They are reachable via email 24 hours a day, 7 days a week. Non-account holders can reach the team via the contact form on the website.
Oil Profit is easy to use with online testimonies placing total setup time between 10 - 20 minutes. The KYC process is straightforward, and documents are accepted once they meet the criteria.
The demo mode is effective for users who wish to test the bot before committing funds. Seasoned users can also use it to analyse and refine trading strategies before deploying them with real cash.
Oil Profit trades only Bitcoin (BTC). However, the bot doesn’t trade the underlying crypto, only derivatives called CFDs that it can pair against multiple fiat currencies. The result is several BTC trading pairs.
The Oil Profit algorithm has gone through extensive upgrades over the years. It is now a sophisticated algorithm that is sensitive to price trends and can trade on low time frames, creating more profit opportunities.
Oil Profit accepts several payment methods like bank transfers, and credit and debit cards in various fiat currencies like USD, GBP, EUR, and CAD.
The crypto trading platform enables you to withdraw your funds anytime you want. You get your payment within 48 hours of filling out a withdrawal form. However, withdrawals are completely free.
The Oil Profit trading software is free to use. There are no hidden account charges, not even on profitable accounts. All profit you make is yours.
Before signing up for an Oil Profit account, ensure that its policies and processes don't hinder you in the future. We analysed metrics that give a realistic representation of how Oil Profit's processes perform in action. We also assigned a score out of five for each category.
When registering for an Oil Profit account, you can choose from a list of affiliated brokers. These brokers are established with a long-standing reputation in the cryptocurrency market. They are also regulated.
Payouts occur relatively quickly, usually within 24 hours of a request. All you need to do is fill out a withdrawal form and wait for your funds to hit your brokerage account.
Traditional Bitcoin trading services and platforms charge transactional fees like commissions, withdrawal fees, funds storage charges and other expenses. That's not the case with Oil Profit as it offers a completely free trading experience with no hidden cost.
To begin using Oil Profit, you’ll need to deposit a minimum of $250. You can deposit using credit cards and bank transfers. For withdrawals, there is no minimum limit.
All new accounts need to be verified. You’ll need ID documents like a driver’s licence and a utility bill or bank statement to verify your account after registration.
Customer support on Oil Profit is available 24/5 via email. Agents are on standby to help set up your account and fix any issues you may face.
We didn’t find as many independent user reviews for Oil Profit as we did for several of its competitors. However, the ones we found were largely positive
The major decider between trading bots is how successful their algorithm is. At a success rate of 90%, Oil Profit is in the upper echelon of crypto trading bots and is ideal for beginners who rely on its algorithm.
Other robots like Quantum AI and BitIQ offer a similar automated experience but Oil Profit's algorithm outperforms them in terms of accuracy and success rate.
Since Oil Profit is an automated trading bot with multiple claims about profitability, we needed to ensure it is legit.
We found genuine reviews from people who have successfully used Oil Profit. According to the reviewers, the bot generates decent profits, not enough to retire or quit your day job, but enough to be categorised as a side income.
We reached out to the customer service of Oil Profit and were met with hospitable, dedicated service. The staff were happy to help with any issues and enquiries we had.
According to our findings based on researching online reviews and testimonials, it appears to be a reliable trading bot and is easy to use for new traders.
Oil Profit is safe enough for regular use. The platforms stored client funds with regulated brokers, reducing their possible attack vectors. They also implement SSL encryption to safeguard user data.
So far, there have been no reports of data breaches or loss of funds due to security gaps.
Here are some reasons to use Oil Profit for trading:
Oil Profit can set and execute orders within a fraction of a second. It can spot small price fluctuations that elude the human eye and process more price data in a few seconds than a human could if given a week. A trading bot grants speed that is impossible for humans to otherwise achieve.
Oil Profit runs 24/7. It does not tire or become disoriented, so you can run your strategy even while asleep. And because crypto markets are always open, you have more opportunities to make a profit.
You can implement strict risk management policies to mitigate loss while maximising profit. And because you can test a strategy’s success rate with a demo account, you can calculate your profit in advance before trading.
Oil Profit’s trading modes make it ideal for all types of traders at different points on their journey. Beginners can rely on the algorithm to analyse the market and execute trades, while advanced traders can develop custom strategies.
Oil Profit will execute a set strategy as laid out. The bot isn’t affected by negative sentiments, it does not have to drum up the willpower to be disciplined in a bull market nor hold on to certain pairs because it is secretly rooting for the project. Bot trading is based on maths, hard data, and strategy.
If you're new to Oil Profit, the best way to start trading is with a demo account that allows you to familiarise yourself with the UI and test your investment strategies in a risk-free environment.
As a new Bitcoin trader, you may not want to rely fully on the automated mode. It should be a part of your overall strategy, instead of your whole strategy. This is where a trading strategy comes in. It is a plan of action that tells the bot what you are trying to achieve through set parameters.
The auto mode works with these parameters to execute trades and manage your risk. While there are templates that you can use without setting parameters, it is advisable to do so.
Due to the immense popularity and sudden fame of the Oil Profit platform, the trading bot became subject to several internet rumours. We fact-checked them to find out whether there is any truth to them or not. Here is what we found.
This magazine lifestyle, cookery, fashion and news show hosts several guests, many of which are business owners and professionals. However, we did not find any episodes where a representative from Oil Profit was featured.
Dragons Den is a popular venture investment show with guests like Debora Meaden, James Caan, and Peter Jones. And while the show has hosted many innovators and technology startup founders, Oil Profit was never featured on the show.
Independent Television and Radio (iTV) is a British television network with several shows and programs, both original and from other studios. While the network often airs business programs, it has not featured Oil Profit.
Amazon Prime is a video streaming service with exclusive content by Amazon Studios, an entertainment company. While several documentaries are on the streaming platform, none feature Oil Profit.
Similar claims were made online that the algorithm was pitched on Shark Tank, a US version of Dragons’ Den. We didn't find any episode that features the algorithm.
Rumours floated on the internet that the trading bot is endorsed by major celebrities known to back technology startups, especially cryptocurrency projects. Once again, we got to work to find out whether these claims hold any truth.
The Virgin Group founder and global entrepreneur has always been a major supporter of cryptocurrencies like Bitcoin. However, no evidence shows that he is backing the Oil Profit app.
Edward “Bear” Grylls is an adventure survivalist known for his TV show, “Man Vs Wild''. Our research shows that he has not endorsed Bitcoin Revolution on his show or in person.
The popular celebrity TV chef owns a restaurant and stars in a TV show about food and cuisines. He does not speak publicly about crypto, thus, claims about Gordon Ramsay endorsing Oil Profit are false.
The richest man in the world and founder of forward-thinking startups like Tesla and SpaceX was said to be backing Oil Profit. Once again, our assessment reveals that while he is a big fan of decentralised projects, Elon Musk did not officially endorse Oil Profit.
The dot com billionaire and one of the most highly regarded investors on Shark Tank, Mark Cuban, was also rumoured to have invested in Oil Profit. However, our thorough assessment of the show as well as Mark Cuban’s social media profiles shows no evidence that backed or endorsed the trading bot.
The Virgin Group founder and global entrepreneur supports cryptocurrencies like Bitcoin. However, no evidence shows that he is backing Oil Profit.
Peter Jones is a British tech billionaire and reality TV personality through his role as a panellist on the British business show Dragon’s Den. He has interests in mobile phones, television media, and real estate. While he has been involved with tech, our research shows that he has not endorsed Oil Profit.
Martin Lewis is an Entrepreneur and the founder of MoneySavingExpert. He talks about ways to make and save money. However, he has never talked about or endorsed Oil Profit.
The popular tech billionaire is known to disapprove of crypto, claiming it is based on “greater fool’s theory”. He has not thrown his support behind any crypto project in the past, including Oil Profit.
The billionaire and former President of the United States is known for his distrust of cryptocurrency, calling it a scam against the dollar. He has never endorsed Oil Profit.
If you are looking to manage your risk effectively, the following tips can help you out a great deal.
Many investors, especially those just starting, get carried away and put all or most of their savings into trades. Make sure that whatever amount you invest does not put you at financial risk if the trade does not go in your favour. Always make informed decisions based on facts and analysis to minimise your risk as much as possible.
While it is a very tempting option to put all of your profits back into trades when you are on a roll, it's hardly a smart trading strategy. When you are trading through the Oil Profit app, it is recommended that you make a habit of saving a certain percentage of your profits. For instance, you can set aside 50% of your profit to ensure you don't lose all of your money if the next trade isn't favourable.
Many new investors make the mistake of putting all of their money into a single trade which is very risky. The first rule of trading is never to use more than you can afford to lose. This way, if a trade doesn't work out in your favour, it will not compromise your financial situation.
One of the smart things to do for all traders and investors is to keep a record of their trades including the amount of capital investment as well as profits earned for tax purposes. This will enable you to know how much money you have made using Oil Profit, allowing you to calculate the tax you owe to the government. Remember that different countries could have dissimilar crypto tax laws.
Take the time to learn more about the crypto market. Major events like token unlocks or new centralised exchange listings could significantly affect the price of cryptos. Learning more about crypto puts you in a better position to make profitable decisions. You can incorporate your knowledge into your crypto strategy to increase your profit potential.
To begin using Oil Profit:
Fill out the registration form with your name, email address, and phone number. You will be sent a verification email with a link to confirm your account. After confirmation, pass KYC by submitting a valid ID and a utility bill.
Next, you’ll be assigned a broker. Sign up with them using a process similar to the steps are similar to the one outlined above. You may be required to provide extra information depending on the broker.
This is where you can try new strategies, use already existing ones, or develop your custom strategy. Oil Profit provides educational material so users with no trading experience can begin using the bot.
Ensure your strategy works as intended by first testing it in the demo account. The account provides real market data, so success in the demo mode is more likely to equal success in the live mode. However, this is not guaranteed.
The minimum you can deposit is $250. All deposits go to the broker you signed up with in step 2 so ensure the broker’s deposit methods and limits are suitable.
Setting up automatic trading involves entering values for the key parameters in your strategy. The major parameters you need to know are the entry point, exit point (also called take profit), and a stop loss.
The entry point is the price you open trades, the exit point is the price you close trades when in profit, and the stop loss is the price you close trades when in a loss.
The stop-loss is a risk management policy determined by the amount of money you are willing to risk for every trade. A rule of thumb is to never risk more than 3% of your total account capital on a single trade. You should place your stop loss at a price where the loss will be less than 3% of the total value of your trading account.
We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our ‘why trust us’ and ‘how we test’ pages for more information on our testing process.
We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Oil Profit review.
Oil Profit is a trading bot that helps users to trade Bitcoin. The software uses machine learning algorithms and artificial intelligence to study large price data sets, predict optimal entries and execute profitable sub-second trades.
With a user-friendly interface, free trading system, a demo mode, and quick withdrawals, Oil Profit offers a compelling trading solution for both beginner and experienced traders. However, before you start trading, ensure that you invest what you can afford to lose and minimise your financial risk.
Ensure you are comfortable with their processes and limits. For example, the minimum you can deposit is $250 and the only crypto supported is BTC.
To open an account, sign up on their registration page and verify your account. Decide on a strategy, deposit your funds, and activate the bot. For more details on how to get started with Oil Profit, read our how to use Oil Profit section.
Alternatively, if you’d rather rely on other reputable trading bots, you can choose from other options. Some of the other robots reviewed by us in the past include Bitcoin Era, Bitcoin Profit and Bitcoin Evolution.
Yes. You can make money with Oil Profit as the platform provides the necessary software and learning materials to ensure you deploy sound strategies.
Profitability depends on the amount of capital deployed and the trader's experience level.
Oil Profit isn’t demanding when it comes to requiring your attention. All you need to do is set your preferences and let the bot do its work. You'll need to check in periodically to ensure the bot is working properly.
While being informed about the trading and cryptocurrency market isn't mandatory, it can help you make informed trading decisions. That being said, a new trader can also rely on the automated mode to invest in cryptocurrencies.
That is highly unlikely. Oil Profit reportedly implements advanced security measures like SSL encryption to ensure that all the communication between you and the bot is encrypted.
While there have been many reports of Oil Profit endorsements by celebrities like Elon Musk and Richard Branson, our findings found no truth to these rumours.
The signup and verification process on Oil Profit is quite easy and quick to complete. You will need less than half an hour to get going.
Yes. You can rely on the demo account to familiarise yourself with the trading bot and test investment strategies risk-free.
Oil Profit is a trading bot that automatically buys and sells crypto on behalf of its users. It uses an algorithm to spot patterns in price trends and profits from them.
Unfortunately, there is no native Oil Profit app. It is still a browser-based platform.
Submit a withdrawal form and wait for your payment to arrive. Processing time is usually 24 hours.