Oil Zero Review – Is it Scam? – Online Broker
Introduction
Oil Zero is an online broker that offers a wide range of trading instruments, including CFDs on stocks, indices, forex, and cryptocurrencies. In this article, we will review Oil Zero's services, trading platform, account types, trading instruments, customer support, regulation and security, fees and commissions, deposit and withdrawal methods, reputation, and answer frequently asked questions. Choosing the right online broker is crucial for traders, and this article aims to provide an in-depth analysis of Oil Zero to help traders make an informed decision.
Oil Zero – Company Background
Oil Zero was established in 2012 and is headquartered in Belize. The broker is owned and operated by FX Zero Spreads Ltd, which is regulated by the International Financial Services Commission of Belize. Oil Zero offers its services to traders worldwide, except for the United States and Japan.
Oil Zero's main services include forex, stocks, indices, commodities, and cryptocurrencies. The broker claims to offer competitive spreads, low commissions, and fast execution. Oil Zero also provides a user-friendly trading platform, market analysis tools, and customer support in multiple languages.
Oil Zero’s Trading Platform
Oil Zero's trading platform is a web-based platform that requires no download or installation. The platform is user-friendly and provides access to a wide range of trading instruments. The platform offers advanced charting tools, customizable indicators, and technical analysis tools. The platform also offers risk management tools, such as stop loss and take profit orders.
The platform's user interface is intuitive and easy to navigate, making it suitable for both novice and experienced traders. However, the platform lacks some advanced features that some traders may require, such as automated trading.
Advantages of Oil Zero's trading platform include its user-friendly interface, fast execution, and the ability to trade a wide range of instruments. Disadvantages include the lack of advanced features and limited customization options.
Oil Zero’s Account Types
Oil Zero offers four different account types: Basic, Silver, Gold, and Platinum. The Basic account requires a minimum deposit of $100, while the Platinum account requires a minimum deposit of $50,000.
Each account type offers different features, such as different leverage ratios, spreads, and access to market analysis tools. The Platinum account offers the most features, including a dedicated account manager, free VPS, and access to exclusive webinars and research.
Oil Zero’s Trading Instruments
Oil Zero offers a wide range of trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies. The broker offers over 50 currency pairs, 20 indices, 150 stocks, and 10 cryptocurrencies.
The broker also offers market analysis tools, such as economic calendars, news feeds, and technical analysis tools. These tools can help traders make informed trading decisions.
Oil Zero’s Customer Support
Oil Zero provides customer support in multiple languages, including English, Spanish, German, and Italian. The broker offers customer support through email, phone, and live chat.
The response time for customer support varies depending on the channel used. Email responses can take up to 24 hours, while live chat responses are usually immediate. The quality of customer support is generally good, with knowledgeable and helpful representatives.
Oil Zero’s Regulation and Security
Oil Zero is regulated by the International Financial Services Commission of Belize. The broker also implements security measures to protect customer data, such as SSL encryption and firewalls. The broker also segregates customer funds from its operational funds to protect customer funds in the event of bankruptcy.
Oil Zero’s Fees and Commissions
Oil Zero charges a commission on forex and metals trades, while other instruments have a fixed spread. The commission charged depends on the account type and trading volume. The broker also charges swap fees for positions held overnight.
Oil Zero's fees are competitive compared to other online brokers, although some traders may find them higher than some of the discount brokers. The broker also does not charge any hidden fees.
Oil Zero’s Deposit and Withdrawal Methods
Oil Zero accepts multiple deposit and withdrawal methods, including credit/debit cards, bank transfers, and e-wallets. The time taken for deposits and withdrawals depends on the payment method used.
The broker does not charge any fees for deposits, although some withdrawal methods may have a fee associated with them. The minimum withdrawal amount is $50.
Oil Zero’s Reputation
Oil Zero has generally positive reviews and ratings from customers. The broker is also rated highly by industry experts for its competitive fees, user-friendly platform, and wide range of trading instruments.
However, some customers have raised concerns about the broker's customer support and withdrawal process. Additionally, the broker's regulatory compliance with the International Financial Services Commission of Belize may be a concern for some traders.
Conclusion
Oil Zero is a reputable online broker that offers a wide range of trading instruments, competitive fees, and a user-friendly trading platform. The broker provides customer support in multiple languages and implements security measures to protect customer data. However, the broker's regulatory compliance may be a concern for some traders, and some customers have raised concerns about the customer support and withdrawal process.
FAQs
Is Oil Zero regulated?
Yes, Oil Zero is regulated by the International Financial Services Commission of Belize.
What are the deposit and withdrawal methods available at Oil Zero?
Oil Zero accepts multiple deposit and withdrawal methods, including credit/debit cards, bank transfers, and e-wallets.
Is Oil Zero’s trading platform easy to use?
Yes, Oil Zero's trading platform is user-friendly and easy to navigate, making it suitable for both novice and experienced traders.
Does Oil Zero charge any hidden fees?
No, Oil Zero does not charge any hidden fees.
Can I trust Oil Zero with my personal information?
Yes, Oil Zero implements security measures, such as SSL encryption and firewalls, to protect customer data.
What are the different account types offered by Oil Zero?
Oil Zero offers four different account types: Basic, Silver, Gold, and Platinum.
How is Oil Zero’s customer support service?
Oil Zero provides customer support in multiple languages and through various channels, including email, phone, and live chat. The quality of customer support is generally good, although some customers have raised concerns.
Are there any bonuses available at Oil Zero?
Oil Zero does not offer any bonuses at this time.
Is Oil Zero a scam?
No, Oil Zero is a reputable online broker that is regulated by the International Financial Services Commission of Belize.
Can I trade cryptocurrencies on Oil Zero’s platform?
Yes, Oil Zero offers CFDs on 10 different cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.