Standard Oil System is fresh in the Forex investment sphere. Like we all know, oil is one of the things that run the world. In the last few years, there has been a significant drop in the price of crude oil. This has major implications for the global and the national economies. The price of lots of goods and services – fuel prices, for example, transportation fees, etc., directly depend on the price of oil.
The new Forex trading bot Standard Oil System, also known as SOS, posed as a survey, depends exactly on the price of crude oil. Lead project administrator David Chan is the person who presents this Forex software to traders. In the following review, you can read my thoughts and preliminary conclusions on the Standard Oil System to decide whether it’s a scam or not.
Review Verdict: Standard Oil System is a Scam
Questionable Origin of the Standard Oil System
The one thing that raised a shining red flag when I first came across the Standard Oil Survey, was the claim that a renowned marketing research company stands behind it. This is the Surveys Unlimited Group. But when I Googled the company, I could not find anything.
This makes me think that a company of that name does not exist and that it has been mention only to create a sense of trust around the Standard Oil Survey. This is one of the lowest things the creators of a Forex trading bot can fabricate – a non-existent firm.
It is very suspicious that there is no available information on Surveys Unlimited Group on the Internet. It has only been mentioned in the few reviews on the Standard Oil Software provided by Forex investigators.
Another thing, that left an impression on me, concerns David Chan – the lead project administrator of the Standard Oil Survey. Traders are given no insight on who that man actually is. Is he the creator of the SOS Forex software? What is his background – any financial or trading experience? Nothing. An anonymous figure like that cannot really be trusted.
Standard Oil System and Oil Companies
What surprised me was the involvement of Exxon Mobil and BP (formerly known as British Petroleum). Usually, when creators of trading bots mention names of big companies such as these two, this is a scam signal. Because such names usually are supposed to mislead traders and gain their trust. Honestly, I am not buying this story and I will keep investigating this aspect of the software.
On the other hand, investors are provided with a very detailed and sense-making explanation of how the Standard Oil System works. It has a user-friendly interface which makes the end-user experience very simple.
The Standard Oil Survey is also presented as a state of the art signal trading system, specifically designed to analyze and calculate oil markers. But what are oil markers? These are events that occur and with 100% certainty influence the market price of crude oil. And if a Forex software is capable of accurately measuring the effect of these events it will truly work in favor of the trader. But the insufficient amount of users’ testimonials and positive feedback makes me doubt the legitimacy of the claimed 91% trading accuracy.
Standard Oil Survey – an Improved Scam?
What was finally able to tip the scales in the scam direction while I was investigating the Standard Oil System, was the provided FAQ section. It is confusing and on top of that – stolen. It is a direct copy-paste of the FAQ of another software that has a bad reputation in the Forex industry – Prizm Tech.
I am not sure if this system actually still exist since I could not find a lot of details on it and was not able to register in order to investigate it. But this only increased my certainty in the fact that the Standard Oil System is a scam. I would not be surprised if the creators are the same.
What struck me, was the fact that the moment they got exposed, the FAQ section was immediately changed. This is a sign of what a sloppy job the creators of Standard Oil Survey have done. Probably because they were in such a hurry to scam traders.
I would not recommend the Standard Oil System as a Forex robot that will satisfy the needs of traders. On the contrary – it seems more like a scam than a legitimate trading bot. Of course, it is fairly new and things might eventually change.
But at this point, I suggest that you choose a Forex trading system that has proven to be reliable. Otherwise, you might find yourself in a situation in which your budget will start sending SOS signals.
Review Verdict: Standard Oil System is a Scam
Hello, I am Collin Tyusm. I am a Forex blogger. I have created my blog, because I want to help people learn more about Forex & CFD Trading Software and Bots.