Oil Profit (oilprofit.lol) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: oilprofit.lol.
Oil Profit (oilprofit.lol) has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Great customer service|No hidden fees
Cons: No integrated tax optimization
Customer support at Oil Profit (oilprofit.lol) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Low minimum deposit|Competitive fees
Cons: Account statements could be more detailed|No live chat on mobile
I lost a significant amount because Oil Profit (oilprofit.lol) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Reliable uptime|Detailed reporting
Cons: Inactivity fee applies after 12 months
The platform at Oil Profit (oilprofit.lol) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about eight months of dealing with this, I have had enough.
Pros: Responsive team|Easy withdrawals|Fast execution
Cons: Help articles are sometimes vague|Nothing significant
Oil Profit (oilprofit.lol) locked my account without warning and demanded documents I had already submitted. for about five months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Instant funding|Quick verification|Fast execution
Cons: Alert system is basic
I closed a profitable position at Oil Profit (oilprofit.lol) and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: High security standards|Low minimum deposit|Easy to use platform|Fast support response
Cons: Research section could be deeper|Limited ETF selection
Do not use Oil Profit (oilprofit.lol) for anything serious. I used them since I opened my account last year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Regular updates|Dedicated account manager|Quick verification
Cons: Limited cryptocurrency options|Onboarding videos are outdated
Do not be fooled by the professional-looking website. Behind the scenes, Oil Profit (oilprofit.lol) is disorganized and incompetent. I found them while looking for alternatives to my previous provider and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Helpful community forum|Low minimum deposit
Cons: Email notifications too frequent|Limited ETF selection