Oil Profit promises automated oil trading profits. Our three-week investigation reveals an unregulated platform using commodity market hype to attract victims.
Oil Profit markets itself as an automated trading platform specialising in oil and commodity markets. The platform claims its AI algorithm can predict oil price movements and generate daily profits from crude oil CFDs. It targets users concerned about energy prices and fuel costs.
Our three-week investigation tested the platform's sign-up process, analysed its marketing claims, and reviewed user experiences to determine whether Oil Profit is a legitimate trading tool or another automated trading scam.
The platform claims to use AI to analyse global oil supply data, OPEC announcements, and geopolitical events in real-time. Users deposit $250 and the algorithm supposedly trades oil CFDs automatically, generating consistent daily profits.
In reality, commodity CFD trading is extremely complex and high-risk. Professional commodity traders with decades of experience and sophisticated tools cannot guarantee consistent profits. The notion that a $250 deposit and an automated algorithm can achieve this is not credible.
Trading commodity CFDs in Australia requires ASIC authorisation. Oil Profit holds no such licence and does not appear on the ASIC Connect register.
Oil Profit's marketing frequently references oil price volatility, energy crises, and geopolitical tensions. This fear-based marketing targets people concerned about rising fuel costs, redirecting their anxiety into deposits.
Despite the commodity-specific branding, Oil Profit's underlying operation follows the same patterns as crypto trading scams. The sign-up process, account manager calls, deposit pressure, and withdrawal blocks are identical to platforms like Bitcoin Prime and Immediate Edge.
Users report the same experience across commodity and crypto scam platforms. Initial deposits are followed by persistent calls encouraging larger investments. Fabricated profits appear on screen, but withdrawal attempts are met with delays, additional requirements, and eventually silence from support.
Oil Profit is a rebranded version of common automated trading scam infrastructure, dressed in commodity market terminology. The platform has no ASIC authorisation, no verifiable trading algorithm, and a consistent pattern of user complaints. We strongly recommend avoiding it.
Risk Disclosure: Trading and investing carries significant risk. Your investments can fall as well as rise. CFDs carry high risk of rapid loss due to leverage. Cryptocurrency is not ASIC-regulated and not covered by AFCA. This is information only, not financial advice. Seek independent advice before investing.
No. Oil Profit is not authorised by the ASIC or any recognised regulator for commodity trading. Legitimate commodity brokers display their ASIC registration numbers.
Professional algorithmic trading exists but requires significant capital, expertise, and regulatory compliance. Retail platforms claiming guaranteed oil trading profits are not credible.
Our investigation suggests Oil Profit shares infrastructure with other automated trading scam platforms. The sign-up processes, marketing tactics, and complaint patterns are nearly identical.
Use ASIC-regulated brokers such as IG, CMC Markets, or Saxo Bank for commodity trading. Always verify regulation at connectonline.asic.gov.au.
Contact your bank immediately about chargeback options. Report to ASIC's Scamwatch and the ASIC. Do not deposit additional funds.
Scam operators create multiple branded platforms targeting different markets. Oil Profit targets people interested in commodities, while similar operations target crypto and forex traders.
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Contact Scamwatch
Call 1300 795 995 or report online at scamwatch.gov.au
Report to ASIC
Use the ASIC's Moneysmart tool at moneysmart.gov.au
Gather evidence
Save all communications, transaction records, and screenshots
Contact your bank
Alert your bank immediately — they may be able to freeze or recover funds
These ASIC-regulated platforms have been independently reviewed and verified.
Investigated by
TradeRadarNews Team
Editorial Team
Our editorial team covers markets, fintech, and regulatory developments across Australia and globally.
Warning
This platform has been flagged as potentially fraudulent. Do not deposit funds without conducting your own due diligence. If you have funds on this platform, seek legal advice immediately.
If you've been a victim of this or a similar scam, report it immediately.
Report This Scam
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Risk Warning: Trading and investing carries significant risk. Your investments can fall as well as rise. CFDs carry high risk of rapid loss due to leverage. Cryptocurrency is not ASIC-regulated and not covered by AFCA. This is information only, not financial advice. Seek independent advice before investing.
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