Spot oil trading is not a scam. There are black platforms, unknown and small local platforms in the market. The trading process of these platforms is not perfect and the trading software is not mature. When choosing a formal platform for operation, how to judge whether the oil spot trading platform is formal refers to the following four points:

First, it needs to be filed by the Ministry of Commerce, reviewed by the Provincial Finance Office and approved by the municipal government.

Second, there is bank fund custody, and there is no restriction on the freedom of withdrawal.

Third, there will be no irregularities such as transactions between regular exchanges and customers.

Fourth, regular exchange customer operations will prompt operational risks and will not conceal trading risks.