Oil Profit Review 2023 - Is it Legit or a Scam?

Oil Profit
Fact Checked
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.

Oil Profit is an automated crypto trading bot that makes it easy for traders to profit from the crypto market by buying and selling bitcoin on behalf of its users. Using intelligent algorithms and machine learning models, the bot analyses the crypto market as discrete data sets to find profitable price patterns. Once set up, it executes trading strategies on its own.

Bots have become popular as traders seek tools, technologies, and techniques to be profitable in an increasingly institutionalised market. The question now is can Oil Profit be trusted?

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, how to get started, and whether or not it is worth your investment.

Our Investigation Result: Oil Profit is Legit!

Having undertaken extensive research and investigations, we can assume that Oil Profit may well be a legitimate crypto trading platform. All claims made by the platform appear to be accurate.

If you are interested in signing up for a free account with Oil Profit, use the link below to get started and an account manager will walk you through the process.

Oil Profit Summary

Minimum Deposit


Fees and Commission


Claimed Success Rate


Supported Cryptocurrencies


Deposit and Withdrawal Fees


Trading Platform

Browser, MT4

Demo Account



Yes. KYC


CySEC regulated broker partners

Table of Contents

What Is Oil Profit?

Oil Profit is a trading bot that is helping crypto trading newbies around the world to attain profitability in the crypto market by executing trades on their behalf. The bot does this by using AI-powered algorithms to automate technical analysis, order execution, and order management.

The Oil Profit trading platform also helps advanced traders become more profitable by providing access to customised tools within a dashboard that help run complex strategies and execute trades at breakneck speeds, features that may otherwise be impossible for humans.

Once set up, the crypto trading bot runs unencumbered by external factors and generates profits for its users. 

Who Created Oil Profit?

The creators of Oil Profit are anonymous. As is a common occurrence in the crypto space, not much is known about the founders as they often choose to hide their identities for privacy and security reasons.

However, popular anecdotes point to a team of traders and developers with significant experience in their respective fields who programmed institutional techniques and practices into a trading robot.

How Does Oil Profit Work?

Oil Profit uses machine learning algorithms and artificial intelligence to study large price datasets, monitor news trends, predict the best buy and sell times, and execute profitable sub-second trades

The trading system uses tried and tested statistical methods that crunch market data to uncover strong relationships between various factors that affect or react to price action. It can then predict market movement before it picks up steam and open positions.

When trading, the bot uses financial derivatives called Contract for Differences (CFDs) to execute trades. A CFD is a tradable security that mimics the price action of an underlying asset. In this case, Bitcoin.

CFDs come with benefits that make them attractive to traders. One of such is the ability to long or short them. Retail traders can profit from Bitcoin’s price action no matter the direction of the market trend. If price trends upward, they long. If price trends downward, they short.

Without CFDs, retail traders would only make money when Bitcoin’s price goes up.

To implement trading signals, the trading bot connects to a third-party broker to relay trade instructions. It uses these brokers to execute trades, enforce risk management policies, and implement strategies.

Because of the nature of the relationship between the Oil Profit and its broker partners, user funds are stored with the latter. However, the trading bot provider ensures that all partners are regulated by the Cyprus Securities & Exchange Commission. They also strive to partner with brokers with a good reputation and track record of service delivery.

When users wish to withdraw, they can do so within 48 hours by filling out a withdrawal form.

 Ultimately, the bot is set up to work like a passive income asset. It runs in the background to generate profit without much human intervention. 

Min. Deposit
$ 250
User Score
Get Support From A Free Advisor
Just a $250 deposit needed to get started
Powerful trading algorithm for automated trading
Start Trading
Payment Methods:
Credit Card, Debit Card, Wire Transfer
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. 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 of Oil Profit


  • Oil Profit offers a 90% success rate
  • The interface is user-friendly with quick registration and verification processes
  • Manual and automated trading modes for users at several trading levels are available
  • Demo accounts are available for practice
  • Customer service is readily accessible 24/7 and happy to help
  • Trading is free, no hidden costs or fees
  • Broker partners are reputable and regulated


  • Only trades BTC
  • Minimum working capital of $250 might be a barrier for some individuals
  • 48-hour withdrawal period is slower than many other bots

Oil Profit Key Features

Customer Support

Oil Profit has a customer service team on standby 24/7 to sort out account issues, answer enquiries, and help with any issues that may arise. They are reachable via email for account holders. Non-account holders can reach the team through the contact form on the website.

Easy Setup

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 within a few minutes, provided they meet the criteria (i.e. a government-issued ID and a utility bill).

Demo Mode

The Oil Profit trading account comes with a demo mode, which provides a safe environment for users to test new strategies, learn the bot’s features, and test the effectiveness of risk management policies before committing funds. It uses real market data so users can backtest strategies and gauge how they perform in real market conditions. This is called paper trading.

Seasoned users can also use it to analyse and refine trading strategies before deploying them with real cash.

Number of Cryptos Available

When it comes to supported cryptos, Oil Profit trades only Bitcoin (BTC). However, the bot doesn’t trade the underlying crypto, only derivatives called CFDs that it pairs against fiat currencies like USD, GBP, and EUR. The result is several BTC trading pairs.

High Trade Success Rate

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.

The current success rate is 90%, meaning that the bot is accurate 9 out of 10 times.

Flexible Payment Methods

Oil Profit accepts several payment methods like bank transfers, credit cards, and debit cards in various fiat currencies like USD, GBP, EUR, and CAD. Debit card payments usually work across the world, even in remote regions.

Easy and Quick Withdrawals

When you wish to withdraw your funds, you can without hassle. Simply fill out the withdrawal form in your account dashboard and wait for it to be sent to your brokerage account. The average time taken is 48 hours. There are no limits on withdrawals, you can withdraw as little as you want. 

However, payment providers such as banks and credit card companies may have limits on how much or how little your account can receive.

Zero fee structure

The Oil Profit trading software is free to use. There are no hidden account charges, not even on profitable accounts. However, there may be spreads imposed by the broker you choose to use and the Oil Profit minimum deposit is $250.

Factors to Consider Before Using Oil Profit

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.

Affiliated Brokers: 4/5

The brokers that Oil Profit partners with are regulated by the Cyprus Securities Exchange Commission (CySEC). They usually have a long-standing reputation for service delivery and work in the regions they are available in. 

When registering for an Oil Profit account, you can choose from a list of affiliated brokers. We were able to choose a broker whose spreads, deposit methods, and interface were suitable for us. However not all brokers work in every geographical region, you are limited to the options provided.

Costs and Fees: 5/5

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.

We were not charged for deposits, withdrawals, trading, or account registration.

Deposit and Withdrawal Limits and Methods: 5/5

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. We found that the fastest deposit method is the credit card which is processed in a few minutes.

Bank transfers can take days depending on the country of operation, the location of the broker’s bank, and your bank.

Verification System: 4/5

All new accounts must pass KYC 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. We found the verification process to be quick and easy.

Customer Service: 4/5

Customer support on Oil Profit is available 24/7 via email for all Oil Profit account holders. Agents are on standby to help set up your account and fix any issues you may face. When we reached out, we got a response within 24 hours.

However, there is no phone or live chat support which would be ideal for emergency situations. 

User Testimonials: 3/5

We didn’t find as many independent user reviews for the Oil Profit platform as we did for several of its competitors. However, the ones we found were largely positive.

How Does Oil Profit Compare?

Several other trading bots function similarly to Oil Profit, but each stands out in unique ways. For example, some bots only trade Bitcoin CFDs, while others trade commodities like oil.

Here are some alternative trading robots to look at, outside of our Oil Profit review:

  • Bit Index AI: This platform comes with personal account managers ready to walk you through setting up.

  • BitIQ: This crypto trading bot supports several cryptos and is great for traders who want several crypto CFD options to choose from.

  • Immediate Edge: This bot has one of the widest global reach as it serves users in more than 150 countries.

  • Quantum AI: This bot uses quantum mechanics to achieve higher accuracy.

Each platform has its strengths and weaknesses. Oil Profit will be more suited to some traders than others. This is why it helps to research platforms first, so you know what they can help you with.

Is Oil Profit a Legitimate Autotrader?

With a cloud of uncertainty dampening the crypto trading market, the question remains, is Oil Profit a trustworthy platform? Our thorough investigation into the platform showed it to be a legitimate crypto trading bot.

Their partnerships with regulated brokers strengthen their claim to legitimacy as these brokers do not usually partner with fraudulent enterprises.

Another area we checked is the quality of its customer service. Fraudulent platforms do not invest in the manpower necessary to run a decent customer service team. The fact that Oil Profit’s customer service runs 24/7 strengthens their claim as scams do not offer dedicated services.

Ultimately, the result of our investigations points to the Oil Profit website being legitimate.

Is Oil Profit Safe?

Oil Profit invests in industry-standard encryption to safeguard user data. It also stores funds with third-party brokers that are regulated. During verification, the platform only asks for information needed to verify your identity.

Financial information is not requested and is therefore kept safe from potential hackers. However, the broker may ask for a bank statement. 

5 Reasons to Use Oil Profit for Trading

Here are some reasons to use the Oil Profit robot for trading:

Trade Faster

Because Oil Profit is a bot, it can set and execute multiple orders simultaneously. It can spot and react to tiny market fluctuations with superhuman precision, and process far more data than a human could within a fraction of a second. A trading bot grants the ability to keep up with the speed of the market.

Trade 24/7

Oil Profit runs 24/7. It is not bound by the same limitations that humans are. Once trading parameters are set, the bot will act on them perpetually. This ability allows it to take advantage of more opportunities than humans can.

Flexible Modes

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.

Free To Use

Some platforms charge you to use their trading bots, but Oil Profit does not. When signing up for an account, you are not charged a signup fee. When funding your account, you are not charged a deposit fee, when trading you are not charged a trading commission.

You have nothing to lose by trying out the bot, except a little time. And if reviews are to be believed, this time spent will yield results tenfold.

Trade without emotion

Oil Profit will execute a set strategy as laid out. The bot isn’t affected by negative sentiments, fatigue, or lack of willpower. Bot trading is based on math, hard data, and strategy.

Best Way to Trade With Oil Profit

The best way to trade with Oil Profit depends on your skill level. If you're new to trading, the best way to start trading is with a demo account to familiarise yourself with the UI and test your investment strategies in a risk-free environment.

After using the demo mode, move to the automated mode to implement the strategies you should have learned and tested in the demo account. At this stage, you should be familiar with stop losses, entry levels, and take profit levels. If not, refer to the learning materials made available on the platform. You can also read our How To section below to learn more about risk management.

Use the automated mode for as long as you need to, refinancing your strategy periodically, and learning how to use sophisticated indicators.

Has Oil Profit Ever Appeared On TV?

Oil Profit platform has been embroiled in some rumours about being featured on certain television shows. We fact-checked the rumours to find out whether they were true or not. Here is what we found.

This Morning

This magazine lifestyle, cookery, fashion and news show hosts several business owners and professionals as guests. Rumours that representatives from Oil Profit appeared on the show circled the interweb for a while. We did our research, dove into the show’s archive and found that the rumours were false. No representative from Oil Profit ever appeared on the show.

Dragons Den

Dragons Den is a popular venture investment show with guests like Debora Meaden, James Caan, and Peter Jones who serve as panellists that listen to business pitches and invest in the best ones. The show has hosted many innovators and technology startup founders, but not Oil Profit.

Shark Tank

Similar claims were made online that the algorithm was pitched on Shark Tank, a US version of Dragons’ Den. We searched the show’s archives but did not find any episode that mentioned Oil Profit.

Min. Deposit
$ 250
User Score
Get Support From A Free Advisor
Just a $250 deposit needed to get started
Powerful trading algorithm for automated trading
Start Trading
Payment Methods:
Credit Card, Debit Card, Wire Transfer
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. 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.

Has Oil Profit Ever Been Endorsed by a Celebrity?

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.

Elon Musk

Elon is a big fan of crypto, specifically Bitcoin and Dogecoin, so much so that he is nicknamed the Doge father. He is also the founder of forward-thinking startups like Tesla and SpaceX. Although he supports crypto, Elon has never endorsed Oil Profit.

Mark Cuban

The Shark Tank billionaire is also a huge crypto fan. He has been involved in several crypto related ventures and is a huge NFT advocate. However, our thorough assessment of the show as well as Mark Cuban’s social media profiles shows no evidence that he backed or endorsed the trading bot.

Richard Branson

The Virgin Group founder and global entrepreneur supports cryptocurrencies like Bitcoin. However, no evidence shows that he is backing Oil Profit.

Peter Jones

Peter Jones is a British tech billionaire and 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.

Bill Gates

The popular tech billionaire is known for his aversion towards crypto. He has disapproved of crypto as far as public records are concerned. As a result, all claims of him throwing his support behind Oil Profit are false.

Tips for Using Oil Profit Safely and Managing Risk

If you are looking to manage your risk effectively, the following tips can help you out a great deal.

Only Invest What You Can Afford To Lose

Do not invest the money that you need to live on. Do not invest money that you need to save. Before deploying capital to Oil Profit, ensure that your daily expenses are taken care of and your emergency savings has been funded. 

Many investors, especially those just starting, get carried away and put all or most of their savings into trades. If they do not achieve success in the first few weeks, they fall into ruin.

Save Profits

Start saving profits immediately after you become profitable. Even trading bots make bad trades periodically, so while it is tempting to put all of your profits back into trades to increase your profit margins, 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. 

Start Small

An addition to only investing what you can afford to lose is to start small. Because you can afford to lose your capital doesn’t mean you should lose it all at once. Start with only a piece of it.

The minimum required deposit on Oil Profit is $250, start with that. If the bot can grow the capital at a reasonable rate within a specified period, you may then bring on board more capital.

Keep a Record for Tax Purposes

Keep a record of your 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. Because Oil Profit trades CFDs and not actual cryptos, tax laws should be clear wherever you are.

Learn about cryptocurrency

Take the time to learn 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.

Trading Strategies and Algorithms

Automated Trading

Oil Profit’s automated mode trades around the clock, allowing users to take advantage of the never-closing crypto market. You can deploy strategies that run when you are asleep or at work with minimal supervision, provided you set your parameters properly.

News and Trend

Oil Profit also trades news events. The bot can identify significant price movements as they are starting and execute trades to take advantage of them.

Arbitrage Trading

Oil Profit can be programmed to scan the prices of supported cryptos across various exchanges and take advantage of price discrepancies.

How to Use Oil Profit - Step-by-Step Guide

To begin using Oil Profit:

1. Create an account with 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.

2. Sign up with a broker

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.

3. Develop a trading strategy

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.

4. Practice using the demo account

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.

5. Make a deposit

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.

6. Set up automatic trading

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 stop loss.

The entry point is the price at which 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. 

Oil Profit Assets, Market, and Options

What assets can you trade using Oil Profit?

When it comes to cryptocurrency, Oil Profit trades Bitcoin. Its algorithm is tuned to Bitcoin’s price movements. However, it also trades oil CFDs.

These CFDs pay the difference between an asset’s opening and closing price to the party that predicts the price movement accurately.

For example, if you open a $250 Bitcoin long trade at $21,000 and it rises to $23,000, you make $23.80. However, if BTC falls to $20,000, you lose $11.90.

Using these CFDs, Oil Profit can offer more than 20 markets for traders to profit from as the cryptos supported are paired with major currencies like USD, GBP, and EUR.

What leverage trading options are there with Oil Profit?

We did not find leverage specifications on Oil Profit’s website for CFD trades. However, we believe that the leverage is within 100:1 and 1000:1 range.

When using leverage, never use more than 1:500, especially when your capital is small. If you are a beginner, start with the $250 minimum deposit and a leverage ratio of 100:1. This gives you access to $25,000 worth of position sizes.

With crypto CFDs, you can use micro lots (1000 units) or mini lots (10,000 units). However, remember that crypto is volatile. If a position is too large, small market spikes can wipe out your entire capital, even if the bot’s prediction is accurate.

What are the spreads on Oil Profit?

Oil Profit does not specify spreads on their website, however, we believe that they largely depend on the broker you choose as they are known to place spreads on their CFD pairs.

Can I Use Oil Profit in my Country?

Can I use Oil Profit in the US?


Can I use Oil Profit in the UK?


Can I use Oil Profit in Australia?


Can I use Oil Profit in Sweden?


Can I use Oil Profit in Germany?


Can I use Oil Profit in Austria?


Can I use Oil Profit in Switzerland?


Can I use Oil Profit in Denmark?


Can I use Oil Profit in Finland?


Oil Profit Review - Final Thoughts

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, a 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.

Review Methodology

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.

Frequently Asked Questions

Can you make money with Oil Profit?

Yes. You can make money with Oil Profit as the platform provides the necessary software and learning materials to ensure you deploy sound strategies.

How much money can I earn in a single day using Oil Profit?

Profitability depends on the amount of capital deployed and the trader's experience level.

How much time do I need to invest?

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.

Will I need to learn about trading to invest with Oil Profit?

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.

Can my Oil Profit account get hacked?

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.

Is Oil Profit endorsed by a celebrity?

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.

How long will it take to sign up and verify my account on Oil Profit?

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.

Can I practice my trading risk-free on Oil Profit?

Yes. You can rely on the demo account to familiarise yourself with the trading bot and test investment strategies risk-free.

What does Oil Profit do?

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.

Is there an Oil Profit app?

Unfortunately, there is no native Oil Profit app. It is still a browser-based platform.

How can I withdraw my profits from Oil Profit?

Submit a withdrawal form and wait for your payment to arrive. Processing time is usually 48 hours.

What can I do if my Oil Profit account is frozen?

If your Oil Profit account gets frozen, reach out to tech support through their email address.

Is Oil Profit a pyramid scheme?

Oil Profit is not a pyramid scheme. The bot does not require users to refer other users to its site, neither does it charge membership fees. You only get charged a small spread when you use the bot.

What should I do if I’m losing money with Oil Profit?

If you find that you’re losing money when using Oil Profit, find out what the problem is. If you just started using the bot, then it is more likely the strategy. If you’ve used the bot profitably, check if it is still executing your strategy accurately. If not, contact support.

Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.