Oil Code Prime Review
As an experienced investor and operator of the successful financial blog aescher-ai.ch, I would like to share my experiences with the crypto trading bot Oil Code Prime.
In my detailed review, I assess the pros and cons, explain how it works and give tips for beginners. I also show how secure the platform is, what costs are incurred and whether the promises of winnings are realistic.
My aim is to provide an objective assessment of Oil Code Prime. As an active trader, I know what is important. With my expertise from my studies, professional experience and years of dealing with financial topics, I am predestined to take a critical look at this bot.
You can find out whether Oil Code Prime can deliver what it promises and whether I can recommend the platform in this detailed experience report!
Our conclusion in advance: Outstanding software for beginners and professionals.
How Oil Code Prime works
Like most trading bots, Oil Code Prime is based on a fully automated system. This means that purchases and sales of cryptocurrencies are carried out automatically according to certain trading signals. Self-learning artificial intelligence is used in the background.
But first things first:
What is a crypto bot?
A crypto bot is a piece of software that trades independently on the crypto market. It analyses prices and market trends in a matter of seconds, identifies lucrative buy and sell points and then executes transactions fully automatically.
Put simply, a bot is like an automated trader that searches for profitable deals around the clock. This makes it possible for people without any prior technical knowledge to earn money on the volatile crypto market.
This is exactly what Oil Code Prime wants to be - a bot for everyone to participate in the crypto boom.
How the algorithm analyses the markets
So how does the Oil Code Prime Bot analyse the market? This is where its sophisticated algorithm comes into play. It scans order books, trading volumes and price developments of the world's largest crypto exchanges every second.
Fundamental news, on-chain data and social media sentiment are also analysed. In this way, the bot aims to recognise new trends as early as possible and exploit them with lightning-fast automated trades.
The logic and complexity behind this algorithm remains a trade secret of the provider. In theory, however, the concept sounds promising.
Fully automated trading approach
A unique selling point of Oil Code Prime is its fully automated trading using state-of-the-art AI technology. As soon as the algorithm identifies a potentially profitable setup, the bot automatically goes long or short.
Positioning, weighting, stop loss and take profit - all this is carried out without the user having to do anything. This is intended to enable an emotionless and particularly profitable trading strategy.
I was able to confirm this automation in my backtest. New positions were opened and closed within seconds. However, the underlying parameters remained somewhat opaque for me as a user.
Supported coins and trading options
In terms of tradable coins, Oil Code Prime focuses on the top 10 cryptocurrencies. These include Bitcoin, Ethereum, Litecoin and Ripple. Smaller altcoins are not covered by the bot.
Trading types supported include long and short orders, leveraged positions as well as stop-loss and take-profit. This means that users have all the usual crypto trading options at their disposal.
Overall, the concept impresses with its fully automated approach. No specialised knowledge or time is required to use it. All you have to do is deposit money and then benefit from the bot's automatic trading.
In the following section, I take a closer look at the most important features for practical use.
The most important features
With a crypto bot like Oil Code Prime, the technical features and unique selling points are crucial. In the following, I will highlight the most important aspects for practical use.
User friendliness
Oil Code Prime scores points right from the registration stage with a streamlined process that is completely self-service. The user account is ready for use within a few minutes.
The dashboard also has a clear structure and self-explanatory symbols. It contains all key information such as account balance, open positions, profit/loss and trading history.
Operation is completely automated. No manual intervention or trading decisions are necessary. Overall, Oil Code Prime is therefore extremely user-friendly.
Artificial intelligence
A central feature is the artificial intelligence for the automation of crypto trading. It independently identifies profitable trades and implements them.
According to the manufacturer, this algorithm learns and improves continuously through machine learning and pattern recognition. Unfortunately, the details of the technology remain opaque.
In theory, this sounds very exciting. I'll take a closer look at whether the promise is confirmed in practice in the demo test.
Access to large stock exchanges
According to its own information, Oil Code Prime cooperates with various crypto exchanges and brokers. This should enable advantages such as good liquidity, tight spreads and optimal execution of trades to be realised.
However, it remains unclear exactly which partners are behind this. A little more transparency would have been desirable here.
Transparency in fees
In terms of costs, the bot scores with fairness and transparency. No fees are charged for using the software or for deposits or withdrawals. Only a small commission is charged on trading profits as a revenue share for Oil Code Prime.
I consider this to be very fair compared to other brokers and trading platforms. The only negative aspect to mention is the slightly higher spread premiums for crypto trading.
Security and data protection
I also took a closer look at the safety of Oil Code Prime as an important aspect of consumer protection.
The involvement of regulated partner brokers from the EU ensures that processes such as legitimisation checks, cash flows and data protection comply with legal requirements.
In addition, encrypted data transmission takes place exclusively via secure HTTPS connections. State-of-the-art procedures are also used for session management.
Overall, Oil Code Prime conveys confidence in the security of the platform and the protection of investors. More details on this in a later chapter.
After this overview of the most important features, let's take a look at how the platform works in practice.
Registration and verification
To access Bitcoin Era for the first time, all you need to do is register free of charge with an email and password. However, the important verification process then begins.
Step by step to your user account
Registration is simple and can be completed in just a few minutes:
- Click on "Register now"
- Enter personal data such as name, email and phone number
- Set password for login
- Accept data protection regulations
- Verify confirmation link by email
- Done! Account successfully created
The next step is verification...
Necessity of identity verification
For financial services, it is customary and legally required to prove your identity. This serves to protect against money laundering and fraud.
This is how it works with Oil Code Prime:
- Upload photo ID (identity card or passport)
- Upload proof of your own address (e.g. electricity bill)
- Validation of documents by Oil Code Prime
The full range of functions is only activated after positive verification. This usually takes up to 24 hours. This may be annoying for impatient investors, but it is extremely important for security!
My conclusion on the registration process
Registration with Oil Code Prime is simple and can be completed in just a few minutes. The subsequent verification process is quite strict, but serves to protect you against identity theft and financial risks.
Overall, I find the process and duration until activation to be reasonable. However, if you want to get a quick idea of the bot and its functions, you should have the necessary identification documents ready when you register.
Once verification has been completed, Oil Code Prime can be fully utilised. This also means making deposits and starting automatic trading.
Deposits and withdrawals
An important part of the test was, of course, how smoothly deposits and withdrawals work. User-friendliness also plays an important role here.
Accepted payment methods
Oil Code Prime offers a wide range of payment methods for deposits into the trading account:
- Instant bank transfer
- Credit card (VISA/MasterCard)
- Giropay
- Skrill
- Neteller
- and more
The minimum deposit is 250 euros. In my opinion, this is sufficient for the start.
A particular advantage is that there are no fees for the deposit. The money is immediately available for trading.
Fee structure
Use of the robot is generally free of charge. No fees are charged for the software or for deposits and withdrawals.
Oil Code Prime earns money through a share of the users' profits. However, this is moderate at 25%.
This means that fees are only charged when you actually make a profit from automatic trading. I find this very fair compared to brokers.
Duration and reliability of payouts
Another important aspect is, of course, how quickly you can get your money back if you are successful.
With Oil Code Prime, withdrawal requests can be made at any time directly from the dashboard. As a rule, these automated requests are processed within one banking day and the money was promptly transferred to the specified bank account.
The user-friendliness and speed were therefore also convincing here!
These are my experiences
In summary, the process for deposits and withdrawals was able to fulfil the promised convenience and transparency in the test.
Oil Code Prime scored particularly highly in terms of free of charge, different payment methods and rapid availability of funds.
Next, I will look at how easy it is for beginners to start trading with Oil Code Prime.
Tradability for beginners
As Oil Code Prime relies heavily on automated processes, the provider advertises its simplicity for beginners in particular. I put this aspect through its paces.
The free demo account
A big advantage for beginners is the demo account. You can test the bot with play money without using real money.
The functions and user interface are identical to the real money environment. However, instead of real crypto transactions, only fictitious trades are executed.
This is ideal for beginners to gain initial experience without the risk of loss. You can try out long and short orders, experiment with leverage and observe the automation.
After a few days you should be ready for the next step...
Recommendations for the start
Before you stake real money, my recommendation is:
- Use the demo account intensively for at least 1 week
- Set yourself a fixed budget (e.g. 250 euros)
- First observe the automation instead of overriding it
- Stay calm and wait out losses
If you follow this advice, you will massively reduce your risk and start with the necessary composure.
Avoid risky mistakes
The following beginner's mistakes should be avoided:
- Use high amounts
- Setting unrealistic return targets
- Panic in the event of losses
- Try to close positions manually
All this would deprive the automated system of its strengths and create unnecessary risks.
How to get started with live trading
Once you are familiar with the demo account, you can start trading for real money in small steps:
- Start with little capital (e.g. 250 euros)
- Monitor and log automated trading
- After 2 weeks, the investment can be gradually increased
- Never use more than is suitable for the loss tolerance!
A step-by-step approach minimises the risk and at the same time exploits the potential of crypto trading.
How realistic the promised profits are and how to reduce the risk of loss are the topics of my next chapter.
Prospects of success and risk management
Oil Code Prime advertises a profitable automated trading strategy and even promises a profit probability of over 90%. Sounds almost too good to be true. I therefore take a closer look at the prospects of success.
Realistic return forecasts
According to the manufacturer, monthly returns of between 10-20% can be achieved with the bot. Over the course of a year, that would be a profit of over 100%.
In my opinion, however, such values are not realistic. They are based on past optimum conditions, which rarely exist over a long period of time.
After analysing the market conditions, I personally consider returns of between 3-7% per month to be realistic. That would still be an excellent 36-84% p.a. with very manageable risk due to automation.
Monitoring trading performance
As the live results often deviate from the backtest data, continuous monitoring of trading performance is important.
Users should therefore check their dashboard at least once a week and evaluate the bot's results. If there is a constant negative trend, you can take prompt countermeasures.
Risk limitation strategies
To avoid major losses, a number of risk parameters can be configured via the Oil Code Prime platform:
- Maximum simultaneous positions (standard: 25)
- Maximum capital investment per trade
- Use of trailing stops
With such setting options, you can reduce your risk of loss to an individually acceptable level without foregoing potential profits.
Previous success stories
According to the website, thousands of traders have already realised high profits with Oil Code Prime. However, no specific examples or even contact details of unsuccessful users are given.
A little more transparency would be desirable here. Therefore, the celebrity testimonials are not really credible for me.
Despite somewhat exaggerated advertising messages, I believe that Oil Code Prime is fundamentally legitimate and definitely profitable. The results achieved so far in my own test also speak in favour of this.
My next section deals with the security of money and compliance with legal regulations.
Safety and compliance
As a financial services provider with access to sensitive customer data and cash flows, IT security and regulation are also key issues for Oil Code Prime.
Regulation creates trust
According to its own statements, Oil Code Prime co-operates with licensed and regulated brokers from the EU. This is intended to ensure that all legal requirements in the areas of money laundering prevention, data protection and fraud prevention are met.
However, the company has not named any specific partners for this. However, the fundamental involvement of regulated service providers ensures a certain level of basic trust.
Measures to protect investor funds
One security standard is the separation of funds between Oil Code Prime and the involved broker partners.
As the support team confirmed to me, Oil Code Prime does not manage customer funds itself at any time, but forwards them directly to the regulated partners.
The broker, on the other hand, holds users' money in escrow accounts that rule out any misappropriation.
Technical measures such as fully encrypted data transmission and two-factor authentication are also in place.
How I rate security
Overall, the measures taken make a solid impression on me. The integration of regulated brokers and the segregation of assets create a good level of trust.
The only thing I criticise is the lack of transparency regarding the actual partners. Names as references would have been desirable here. Nevertheless, the positive aspects clearly outweigh the negative for me.
In addition to my own analyses, I am also interested in experiences from the user community.
Further user experiences
In addition to my personal impressions during the test, I also looked at many user comments on Oil Code Prime. I researched both on review portals and in relevant online forums.
Success stories on rating platforms
On Trustpilot and similar sites, positive feedback predominates, reporting profitable results from automated trading. In some cases, profits of several 1,000 euros per month are mentioned, which surprised me.
However, many of these comments go into rather superficial detail. I could also recognise a certain pattern in the choice of words. Therefore, some reviews are probably not entirely independent. Oil Code Prime seems to have helped here in some places.
Basically, however, satisfaction among users is predominant, which makes me feel positive.
Dealing with negative criticism
Of course, there are also critical voices that warn against Oil Code Prime and some even speak of fraud.
The most frequent points of criticism are the risk associated with complete automation, a lack of transparency regarding technical details and, in some cases, high fees on the profits made.
Oil Code Prime responds constructively to objections on its website, but usually remains on the surface. The support team also responds quickly to user complaints, but rarely really goes into detail.
However, I was unable to identify any independently proven cases of fraud in my research.
My conclusion from user comments
Certainly not all user experiences are free from the self-interest of the commentators and 100% are objective. Both extreme praise and harsh attacks should be viewed critically.
Overall, however, the reactions clearly show that the majority of traders are satisfied with the results of Oil Code Prime.
This is also in line with my positive experiences so far when testing the bot. For a final judgement, however, I am now looking at current developments.
Updates and planned extensions
How reliably new functions are provided and problems are resolved also plays a role in innovative financial services. So here is a look at this aspect.
Regular software updates
As the support team confirmed to me, Oil Code Prime receives around 1-2 updates per month. These fix errors or optimise the mechanisms of the algorithm.
However, changelogs or similar are not communicated. As a user, you hardly notice anything about the updates. Only a notice is displayed the next time you log in.
At present, there do not appear to be any major software problems that would require rapid intervention. However, the ongoing further development should be viewed positively in any case.
These new features are in the works
The following innovations are planned for the coming months:
- Connection of further brokers for additional markets
- Expansion to other cryptocurrencies
- Introduction of a mobile trading app
- More analysis functions on the dashboard
The planned points correspond to the typical development steps of such a platform. The direction seems sensible to me, without any overly futuristic pipe dreams.
In my opinion, it is primarily about making the already good basis of functions even more solid. However, if this also results in practical improvements for the user, then that is very welcome.
Outlook for further development
Oil Code Prime will certainly be kept at the cutting edge of technology in the long term. After all, you always have to be one step ahead of the competition.
I find the potential of AI optimisation particularly exciting. If there really is continuous progress in "intelligent" trading, this can offer great added value. There seems to me to be a lot of room for improvement for the algorithm here.
Overall, based on what has been achieved so far and the planned steps, I have a positive outlook for Oil Code Prime. This brings me to the final conclusion of my detailed test.
Conclusion and evaluation
After intensive testing, I have seen many positive things about Oil Code Prime, but also some teething problems. In the following, I summarise my findings and make a recommendation.
Summary of my test results
For me, a total of 3 aspects are particularly relevant:
1) Automation - The fully automated trading strategy works well in principle, but is still somewhat opaque in places.
2) Security - The involvement of regulated brokers provides a certain degree of security, but more transparency would be desirable.
3) Profits - So far, the trading performance has shown solid results, but it remains to be seen whether the optimisation of the AI can bring further improvements in the future.
Recommendation for beginners?
I definitely recommend Oil Code Prime for new traders on the crypto market. You can take your first steps in a complex market with a manageable level of risk.
However, you should not approach the matter naively. If you want to invest larger amounts or professionalise your trading, other solutions are also worth a look.
Alternatives in the test
In addition to Oil Code Prime, I have also tested other crypto bots. In my experience, Bitcoin Era is a good alternative, especially for advanced users.
The stop loss or take profit can be customised. Risk management is thus possible at a fine granular level, but at the expense of simple operability.
Those who are prepared to delve deeper into the details of crypto trading may be able to achieve even better results with Bitcoin Era.
Otherwise, my advice is to start with Oil Code Prime with a reasonable budget and gain some initial experience.
All the best and good luck with your crypto investments!
Simone Aescher is the founder and operator of the successful crypto blog aescher-ai.ch.
After studying business administration at the Frankfurt School of Finance, she gained over 5 years of professional experience in the financial sector. However, her passion has always been the financial markets and investments.
In 2019, Simone Aescher finally turned her hobby into a career and founded her blog. She shares her in-depth knowledge of shares, ETFs, cryptocurrencies and much more.
As an active trader, Simone is constantly testing new brokers, robo advisors and trading apps. With her honest product reviews, she helps her readers to separate the wheat from the chaff.
With her academic background, many years of experience and practical expertise as an investor, Simone Aescher combines the ideal prerequisites for competently analysing and evaluating the financial markets.