Oil Profit Review – Most Updated For 2021
Name: Oil Profit
Description: Oil Profit: Crude Scam or Not? Here’s Our Review for The Oil Trading Application
Software Price: 0.0
Application Category: Auto-Trading Robots
Author: Jeffrey Taylor
Oil Profit is a trading software that is focused on making oil trades easy and applicable for the common person on the street. The website helps beginners easily break into the oil trading market all without spending hours a day on the computer or inside of the classroom. The Oil Profit website says that it can make anyone an oil trader, and we believe it!
With this review, we really wanted to take a deep dive into trading oil to see if it is really as easy as the website claims, and to see just how Oil Profit is making trades from the buying and selling of oil!
Why Should We Trade in Oil?
Oil has always been a very lucrative commodity for the entire globe, and because so many people want access to the world’s oil resources, there’s a lot of potential for some high rewards. As the oil reserves of the world get smaller and smaller, the prices and potential for profit really start to rise up.
Plus, you are going to be rubbing shoulders with some of the major public stock exchanges of the world, because they want to trade oil as much as you do. Trading in oil is a gamble every single day, and unlike other trades on rising commodities such as weed or Bitcoin, oil has already proven itself as a top contender in the market. It’s lucrative, it’s profitable, and everyone knows about it. This reduces the element of the unknown when it comes to risk.
What is Oil Profit, and How Does It Work?
Oil Profit is a website that allows you to buy and sell oil, the same sticky black stuff that has been powering our world as a fossil fuel. Even with the world’s starting shift towards more renewable forms of energy, Oil Profit has noticed that oil is still a very strong contender in the energy market, and it isn’t going away any time soon.
Oil also has very high volatility, so it can be selling for very high prices and then can suddenly drop to low prices very quickly, sometimes within the span of a day. This volatility is actually a very good sign for people who want to start making investments with Oil Profit because you have a high risk and high reward oil trading setup.
Does Previous Experience Help?
Trading oil is no different from trading Bitcoin on various trading websites, so if you have even a passing familiarity with that then you are good. However, even if you’ve never made a trade before in your life, we found that trading oil with Oil Profit is very easy to do.
All you need to do is make an account with the Oil Profit, which is as easy as creating an account with everything else and follow three easy steps.
What Moves the Price of Oil?
With oil being so volatile, you need to understand what makes it that way. Aside from the finite oil supplies being used by the entire world to power everything from cars to factories to buildings, there are some other common factors. Knowing these factors and how they change can help beginners get their heads around the changes in oil prices, and they might even help you predict some changes.
The Four Main Factors
First, the Organization of Petroleum Exporting Countries (OPEC) is a board of countries that both produce and regulate the amount of oil to meet global demand. They can influence the price of oil by changing the output of the member countries, and they often do this during times of crisis.
The economy and laws of supply and demand help change the prices on Oil Profit too. If demand is higher than supply, the prices go up. If demand goes down, prices are going to lower. Whenever demand goes down, the amount of oil supplied can go to storage facilities and create a surplus.
Finally, as more and more companies move away from oil and start to embrace different forms of renewable energy, the demand for oil lowers.
It’s admittedly a lot to keep track of, but once you get your hands on the basics, you can see the patterns that might influence your own Oil Profit trades.
Signing Up for Oil Profit
In order to create your Oil Profit account and to start making trades, you need to do three things. First, you need to provide some basic contact information: your email, phone number, home country, and full name. Oil Profit wants to make this as easy as possible, and we found that it only took a few minutes to get everything approved for us.
You then need to make a $250 deposit to start using the software, that’s the minimum that we need to start allowing you to make trades, and without it, you won’t have enough capital to start making some trades. Oil Profit connects you to one of the many top brokers on its team and they help you make your first investment.
Upon inspection of the Oil Profit broker team, all of the brokers that we worked with during the trial were polite, helpful, and reputable. They also made no secret of the amount of money we needed to invest in the account and answered all of our questions regarding the security of the transaction. We don’t often see such polite and well-mannered brokers, so that’s a point in Oil Profits favor.
Steps After the Investment
They also allow you to pay that $250 investment in any manner you wish. You can use a debit or credit card, but cryptocurrency payments are also allowed. It’s a really flexible system for oil profits.
Once you get the $250 deposited with Oil Profit, then you can have access to the different ways to trade with crude oil. There are several ways that you can get started with the world of trading oil, and we outline some of them below. You are going to be able to trade with a variety of companies on Oil Profit who are all trying to get a piece of the market and can start learning how to make effective trades.
What Else Do I Need?
We do recommend using some type of software to track the daily prices and movements of oil, and you should learn enough about some of the trading terms to recognize a good situation on Oil Profit when you see it.
What happens When Oil Profit Trades Succeed?
Unlike when you trade for Bitcoin, if you make a successful trade there isn’t a sudden influx of bitcoins to your account. Instead, the stock or CFD or asset that you traded on is converted into money, and that is what is sent to your digital wallet and account. We found in our testing that Oil Profit was very fast when it came to giving us the trade we made and really lived up to its name as an Oil Profit system.
You are basically paying for the right to buy or sell oil at a specific price for a specific time. This is called a futures contract and it is one of the most common trades you can deal with when working with Oil Profit. The buyer (you) or the seller can draw up a future contract to say when and how the oil is going to be bought.
We found in our testing that Oil Profit does a good job of making these contracts clear, but if they aren’t your style you can find other ways to make trades. Making future trades is often for people with a lot of money who have experience trading in oil, but there’s a way for beginners to get in on the action too.
The Beginner Friendly Method
If you aren’t confident in making future trades on Oil Profit, then you can start trading CFDs. A contract for difference (CFD) is a contract. It states that the buyer and the seller are bound by an agreement related to the item that they are buying. Instead, the buyer needs to pay the seller the difference between the current value and the value at the time of the contract. Confused yet?
It is confusing, but it basically gives traders more control over their bets on Oil Profit because they can bet big if they think they can make a great trade. If they think things are about to go belly up, then they can bet a smaller sum to still walk away with some funds.
An Example of CFDs
An abstract example would be this. You are going to buy ten gallons of crude oil, and the typical price for this is $10,000. You don’t have that money, but you enter into a CFD on Oil Profit with the seller of those 10 gallons. Right now, oil prices are very low and the value of the 10 gallons is $6,000. For a CFD, you can opt to pay the difference of 4,000 now.
It’s an abstract example that might not show up on Oil Profit, but it allows you to have a bit more control over everything when trading. This makes it perfect for beginners to the oil trading market and allows you to sell oil on the spot using data that you see now, rather than taking a gamble on the future with an uneasy profit system.
CFDs can be traded on Oil Profit, and while the scope of how that works is beyond this article, you only need to know that they are a good trading skill to learn. The more trading that you can do, the better you can get at it.
Oil Profit FAQ’s
We found during our testing that some key questions came up again and again, so we figured we would pile them here.
Is My Money Secure with Oil Profit?
Yes, the money you make by trading on Oil Profit is as secure as your personal information. Oil Profit takes your safety and security very seriously and they constantly are upgrading platform security to prevent data breaches and the threats that hacking can present to your account.
When Should I Trade Oil On Oil Profit?
Unlike trading with other online commodities such as cryptocurrency, which uses an AI robot that works tirelessly all day, oil trading is a bit different. It needs to be done manually, and you should make your trades whenever the market is the most active during the day. Typically, there’s a lot of trading done on Oil Profit when the market first opens, and again when they are just about to close.
Depending on what type of oil you are looking for, there are various time periods where you can hop in and make different types of trades. For example, you can trade the US crude oil option on Oil Profit and make trades from 7:30 am to 7:27 pm, and then future bets 23 hours a day with a break from 10-11 pm.
You need to spend a significant time investment each day, logging into the Oil Profit website during the peak hours to make your trades and analyze the oil situation. Once you get the hang of it, then actually making the trades shouldn’t take that much time. Maybe 30-60 minutes every single day, depending on the day Oil Profit is having.
How Much Money Should I Put Down?
Oil trading and Oil Profit is about profit, plain and simple, and whenever you are putting down money on oil trades, especially as a beginner, you need to be smart. Chances are you aren’t going to make a ton of trades or any at all with your first few trys. We’ve found that setting the bar low on Oil Profit and only betting money you are comfortable with losing is the right way to go until you get the hang of it.
Once you get some experience and start to predict the ways that your CFDs and future bets are going to be impacted by world events, then you can make Oil profit trades with more confidence and start to mitigate the risks a little bit more.
It’s going to be a learning experience that can be made even harder by the fact that you need to do all the work manually. However, if you persevere, you can find that you are capable of navigating the world of Oil Profit. If we could do it and make it work, then so can you. You just need to give Oil Profit a try for yourself!
Our Verdict on Oil Profit
Oil Profit’s website is a great place to start if you are looking to get into the oil industry and want to start making a profit on it. It provides clear and detailed information, safety features, and allows you to make both CFD trades and future trades. Plus, the easy sign up and helpful brokers Oil profit offered didn’t hurt either.
Trading oil itself on Oil Profit doesn’t have to be hard, and if you can find the right website then everything gets much easier. You might make a few mistakes and fall down every once in a while. As you learn more and more about the oil industry and how to bet on it, these mistakes should be phased out and you might start to make your own Oil Profit and grow your confidence.