Oil Zero Review 2024: Is It a Legit Trading Software?
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One of the more prevalent ways to trade commodities in recent years is crude oil and while the niche will likely take some getting used to for beginners, it could potentially be a viable way to make some cash if the right moves are made. This method involves an individual buying and selling not only different types of oil, but also assets within the oil niche, at a price difference that will bring a profit.
With this in mind, let’s take a look at the only oil-centric trading robot in the industry, Oil Zero, and if it’s a scam or legit.
An Introduction to Oil Zero
While this may be a relatively new trading robot in the overall niche, Oil Zero is the only one that’s primary function is facilitating trading with crude oil and related assets. This has already been proven to be a good thing, as traders of all calibres will have access to a dedicated platform that has this type of trading as its main focus, so users can take advantage of the price movements in oil values across the globe to make some cash.
To help you gain a better idea of the overall functionality, usefulness and legitimacy of this platform, we have compiled this review to cover all the information you need to decipher whether Oil Zero is the right platform for you.
For starters, Oil Zero is an online platform that has been designed to help traders of oil and other energy products make automated trades that have a higher chance of being profitable than human endeavours, with the added benefit of being faster and requiring much less time and effort to set up and manage than manually performing trades (which you will still have the option to do, if you’d prefer).
While many automated trading platforms will partner with brokers, Oil Zero instead asks users to connect the platform with a third-party broker of their choice while offering a dedicated account manager for support. It has a variety of features such as advanced charting tools, real-time market data and more for detailed oil trading analysis, alongside a customisable trading experience with access to alert setting and a range of order types, with the potential to add watchlists and more. It’s worthwhile to know that the Oil Zero trading platform will require a minimum deposit of $250 to begin trading (don’t worry, this is all yours to trade with) and the site takes 2% commissions.
An in-depth look at Oil Zero features
As one of the only platforms out there to focus on oil and energy markets, it can be a good idea to get to grips with all the features on offer. Here is a closer look at what you can expect from the Oil Zero trading software.
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Trading tools
While we mentioned trading tools above, these features shouldn’t be overlooked. After all, the more advanced the ones on offer, the more you’ll likely be able to get from your overall endeavours. The trading insights you can garner from the tools on offer and assistance provided by your account manager at Oil Zero, the more the software is likely to perform in the way you’d expect.
If you are familiar with trading on a wider scale and are hoping to diversify your portfolio, it can be a good idea to keep in mind that the oil and energy markets will differ quite significantly from trading other commodities like gold, shares, or even cryptocurrencies. This is because market influences include politics, global conflicts and even consumption rates, so the niche is often far more complex in nature.
You may be happy to know that there are no additional or hidden fees when considering these tools on Oil Zero either.
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Paper trading (demo account feature)
Paper trading is often known as using a demo account and the aim of this is to gain some worthwhile familiarity with buying and selling oil, as well as the trading software itself, without putting any real money on the line and potentially losing out. With the Oil Zero robot, you can expect all of the full site’s tools on the demo account so you will have a comprehensive experience before moving on to real money trades.
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Customer services
Once you have registered with Oil Zero and deposited your first $250, not only will you be assigned an account manager for help with trades, but you will have a wide array of avenues to contact the customer support department. If you’d like to reach out before this however, there is a quick contact form on the ‘contact us’ page of the website.
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Customise your dashboard
All traders should have some kind of strategy in place for risk management and to help to achieve their investment goals. Oil Zero allows users to customise their dashboard with the features and functions that serve them best, with settings for trading times, stop-loss order sizes and more.
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Zero trading fees
Many automated trading software platforms will have fees and charges to keep in mind but Oil Zero is one of the few to only ask 2% commission on successful trades. There are no subscriptions, sign-up fees, trading fees, or charges on deposits or withdrawals.
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Expansion plans for the future
While one of Oil Zero’s current top advantages is that it is a dedicated platform, rumour has it that the site is looking to expand into crypto trading very soon. While this isn’t a necessity, with the growing popularity of trading digital currency, it certainly makes sense for this provider to stay up-to-date with their demographic. Having access to more assets could help you to keep all of your endeavours in one place, so this isn’t the negative it may seem at first glance.
How to start trading with Oil Zero
When it comes to signing up to Oil Zero, not only is doing so free, but the steps have been designed to be as simple and straightforward as possible for all users to get involved. Here is what you’ll need to do if you’re interested:
1. Visit Oil Zero
The best way to create an account is to visit the official Oil Zero website, find the ‘create account’ button and follow the prompts that ask for your full name, your email address and your phone number. There is no KYC verification in place, so you can sign up and make deposits and withdrawals with ease.
2. Make a deposit
The Oil Zero website does require you to deposit $250 before you can begin navigating the site. The good news is that there are a host of fiat payment options including credit and debit cards, bank transfers and e-wallets like PayPal, Skrill and Neteller. This can be done on your desktop, smartphone, or tablet (most popular operating systems are supported), but don’t forget to confirm the transaction before moving on.
3. Start trading
It is always advisable to start with paper trading before you move on to trading with real money. Once you have some familiarity with Oil Zero, you can start to set trading parameters that suit your strategy or trading style and start your oil trading journey. It will be worthwhile to your endeavours to check in on how everything is performing from time to time to ensure you are reaching the goals you hope for with the software (if not, tweak things until they function better).
The benefits of trading oil with Oil Zero
Here is a quick breakdown of the pros to consider when trading using the Oil Zero bot:
- A range of valuable trading tools
- Simple UI for beginners and no-frills oil traders
- No fees
- Instant transactions with fiat currencies with no KYC verification
- A demo trading account
- 24/7 customer support
- Integration with MetaTrader4 (MT4)
- Available on a host of devices
- Supported oil trading in a host of countries
A lot can be said for selecting a trading software that has been built with one function/commodity in mind, as you will be able to trust that the features and functions are dedicated and won’t be applicable to a range of assets, which could potentially lower overall performance.
Is Oil Zero a scam?
One of the biggest things to understand when trading is that the oil markets are extremely volatile – and while this may be an attractive feature for some individuals, it is also a big factor to consider as it poses a significant risk to your investments and trading funds (and potentially your income and savings). Even leading industry names can fall short of the mark if an array of market shifts occur, so there is never a ‘safe bet’.
Trading on the oil markets is more regulated than the general cryptocurrency niche, but there are still scam websites out there hoping to take advantage of unsuspecting users. During our research, we are not convinced by the legitimacy of Oil Zero, but this is largely due to the fact that there is little to no information on the website about its developers, how it operates, or its potential win rate.
All of these factors won’t define a scam website but can help you to make a more educated decision – but without these, it could be a red flag you won’t want to overlook. Couple this with the fact that third-party online reviews are generally mixed across a host of platforms and you may want to find a more verifiable site.
You may still decide to use Oil Zero for its features and benefits – and the good news is that the profit potential is there, as there is enough information about oil stocks, in general, to get new users/traders at the very least started.
Does Oil Zero provide reliable trading software for the oil niche?
Many traders turn to (or prefer) to invest in energy commodities as these can be less volatile than crypto alternatives or even gold, but there will still need to be a degree of risk management involved when putting your money on the line. It can be important to never put more into your trading efforts than you can afford and always start off small until you gain experience or even build some trading collateral.
Despite the fact that a lot of information out there on Oil Zero is difficult to find and user reviews and testimonials are extremely mixed, there still seems to be plenty of reasons to take a chance on Oil Zero when you want to trade with oil in specific. While some aspects of this software may have some red flags, it may be too soon to write it off as a scam website without doing your own research or even trying it out for yourself.
Conclusion
When it comes to oil as an asset, it is a finite resource, so there can be huge swings in value as supply and demand around the world shift – and this is one of the biggest draws for those interested in trading. The good news is that even beginners can get involved – and with the inception of trading robots, a lot of the commitment can be automated to help minimise effort and even research times, as well as maximise profit potential.
FAQ
Who is behind Oil Zero?
There isn’t much information either on the platform or around the wider internet about the developers of Oil Zero, so there is no way of telling exactly who is behind it. This doesn’t bode well for determining how legit the site is, but it is also pretty common within the trading software niche.
Does Oil Zero have a mobile app?
Users can enjoy cross-platform functionality with support for operating systems across both desktops and mobile devices. Having said this, there isn’t a mobile app at the moment, but there’s no saying that one won’t be available in the coming years.
Does Oil Zero support trading for cryptocurrencies?
No. Right now, Oil Zero provides dedicated automated trading software for oil and energy-based commodities only, making it a top choice for those who want a platform that can cater to their exact needs. There is talk within the community of an expansion into crypto trading and feelings are mixed about whether or not this will be a worthwhile move.
How does Oil Zero work and what is the win rate?
Unfortunately, most of the information regarding how the software functions is hidden behind the fact that you need to make a deposit of $250. This makes it incredibly difficult to not only list the features users can expect, but also how well it performs or matches up to its competitors. There is no stated win rate provided either, so you may feel you are going in blind.
Can beginners use the Oil Zero trading software?
This website is reported to be simple to both navigate and use for individuals of all skill levels, with intuitive UI and UX design functionality. Beginners are advised to do their research before signing up to any trading software and always start small, because while Oil Zero and similar platforms are designed to make trading easier and more straightforward, they simply cannot determine the most successful market moves without some user-set parameters and initial input.
