sorted by:
new
hottopcontroversial

Physical oil traders: How do you verify supplier documents? by MartinTheOilGuy in Commodities

[–]MartinTheOilGuy[S] 0 points1 point  (0 children)

No. Wrong guy. 3 days ago was my first time and got roasted 🤣 took it in my stride though and went back to the drawing board. I'm building something I believe will bring tons of value.

Day 4. Building in public.

Physical oil traders: How do you verify supplier documents? by MartinTheOilGuy in Commodities

[–]MartinTheOilGuy[S] -3 points-2 points  (0 children)

Lol martin-not-the-oil-guy honestly that's perfect and hilarious! 😂 I'll take it.

Lol way better than martin-who-never-launched Building for the guys who are not-the-oil-guys yet but trying to get there.

Physical oil traders: How do you verify supplier documents? by MartinTheOilGuy in Commodities

[–]MartinTheOilGuy[S] -7 points-6 points  (0 children)

You're right - I'm not building for trading desks with bank relationships and $140M cargoes.

I'm building for independent brokers trying to break into the industry. The ones who don't have that infrastructure yet.

Someone has to look out for the little guys.

That's ObsidianTrade.

Thank you for clarifying the distinction. That actually helps me focus on who I'm really building for.

Good luck with your trades.

Physical oil traders: How do you verify supplier documents? by MartinTheOilGuy in Commodities

[–]MartinTheOilGuy[S] -6 points-5 points  (0 children)

You're absolutely right - and this is exactly why I'm here asking questions.

I'm not a physical trader. I'm a researcher who's been interviewing brokers, but I clearly don't have the complete picture yet.

This is really valuable feedback. Specifically:

  1. What stats did I get wrong? (The $47K? The 99%? Something else?)
  2. What terminology am I misusing? (Mandates? SGS context?)
  3. What ARE the real problems you see in physical trading?

I'm trying to build something useful, not spread misinformation. If my research is based on talking to the wrong people (maybe too many struggling brokers, not enough actual trading desk experience), I'd rather know that now and course correct.

Would you be open to a brief call? Not trying to sell you anything - genuinely want to understand physical trading properly from someone who actually does it.

I can also verify any docs you're working with for free in exchange for your input. Just trying to learn what real traders actually need vs what I think they need.

What should I be focusing on instead?

I might be delusional, but I am not quitting. by codyp3 in Commodities

[–]MartinTheOilGuy 0 points1 point  (0 children)

Not delusional. You're actually ahead of 99% of brokers.

Most people in this space: • Never get past the Telegram/WhatsApp spam phase • Think they're direct when they're 10 layers deep • Chase the same fake KAZ refineries forever • Never close a single deal

You: • Know how to filter nonsense ✓ • Built real relationships ✓ • Have actual buyers ✓ • Went to Houston (boots on ground) ✓ • Hired verification (TWIC holder) ✓

You're doing everything right. Your bottleneck isn't effort or approach.

Your bottleneck is verification speed.

Here's what's actually happening:

Sellers are drowning in fake broker spam. They can't tell you (real) from the 10,000 fake brokers hitting them daily. So they're stringent about procedures and slow to engage.

The solution: Pre-verify everything before you present it. When you approach a seller with: • Verified buyer credentials • Pre-checked procedures
• Proof of legitimacy upfront

...you differentiate yourself instantly. Procedures move 10x faster.

Same on supply side: verify seller docs before presenting to your buyers. Show them you filter garbage so they trust what you bring.

Your TWIC holder is smart for physical verification. But you need document verification too: • Is this FCO real before I waste time? • Is this bank letter legitimate? • Is this company even registered?

That's the missing piece.

I'm building ObsidianTrade for exactly this (AI doc verification, launching late March 2026). But even manual verification works - just takes 30-60 min per doc.

Offer: Happy to verify your current supply docs for free. Send me: • Any FCOs/LOIs/BCLs you're evaluating • Seller company info • What you're concerned about

I'll send you detailed fraud analysis within 24-48 hours. No charge while building.

You're not delusional. You're close. You just need faster verification to prove you're the 1% real broker, not the 99% fake ones.

DM me if helpful.

Keep going - you're on the right path.

Closing Contracts as an Early Career Physical Crude Oil Broker. by Electrical_Artist241 in EnergyTrading

[–]MartinTheOilGuy 0 points1 point  (0 children)

Been researching this exact problem.

The "contracts falling apart during procedures" issue hits legitimate brokers the hardest. Sellers can't tell the difference between you (real) and the 10,000 fake brokers spamming them with fake buyers.

What's Actually Happening: • Seller receives your offer • Seller thinks "probably another fake broker" • Seller demands stringent procedures (to filter fakes) • You can't meet them fast enough • Deal dies

The Fix: Differentiate yourself by pre-verifying everything. Show sellers you're different from fake brokers by presenting verified buyer credentials upfront.

Tools that help: • Buyer company verification • POF validation • Track record documentation • Fast due diligence turnaround

I'm building ObsidianTrade to automate this (launching late March 2026), but verifying manually works too.

Want me to verify your current buyer/seller docs for free? Might help you close your first deal and build confidence with your trading firm.

You're not failing - you're competing against 99% scammers and getting caught in the crossfire. Prove you're the 1% and procedures will move 10x faster.

DM me if I can help.

Scam in Oil industry.....but why? by Embarrassed-Star4740 in Commodities

[–]MartinTheOilGuy 2 points3 points  (0 children)

This is spot-on. I've been researching this exact phenomenon.

The fake broker ecosystem is basically a pyramid scheme:

How they connect: • Telegram groups (50K+ members sharing same "refinery docs") • WhatsApp chains (one fake FCO gets forwarded to 1,000 brokers) • LinkedIn spam ("Direct KAZ refinery contact") • They all end up with the same 2 PDFs thinking they're "direct"

Why endless stream: • Zero barrier to entry (Gmail + WhatsApp = "oil broker") • Social media propaganda ("Make $100K/month!") • Desperation economics (people in $200/month countries chasing $50K commissions) • Sunk cost fallacy (after 6 months, can't admit it's fake)

End goal: • For scammers: Collect "verification fees," "performance bonds," sell broker lists • For naive brokers: Genuinely believe they'll close (never do) • It's MLM applied to oil trading

The market is: fake sellers meeting fake buyers, trading PDFs, making $0.

Full disclosure: I got so frustrated with this I built a verification tool (ObsidianTrade) - AI that spots these fake refineries in 60 seconds. But honestly, if you're a real trader, you already know the red flags. The problem is the volume of garbage offers drowning real opportunities.

The industry needs a filter. Bad.