Metal working fluids play a prominent role in the machining operation, to provide better lubrication and surface finish of the machined products. The deprived heat transfer and lubricating property of these conventional fluids causes severe problems to meet the demands of the industry. In recent years, nano-size solid particles have received considerable attention and widely used as additives to improve the thermal and lubricating properties of the cutting fluids. In the current study, nano-metalworking fluids were formulated by dispersing copper and aluminium oxide nanoparticles in the mineral oil based water soluble metal working fluid, in different volume fractions. The tribological characteristics of the synthesized nano-cutting fluids were assessed through the anti-wear and extreme-pressure (EP) tests carried out in Four-ball tester as per ASTM standards. The enrichment in the anti-corrosive properties of the nano-metal working fluids was investigated with the aid of standard iron-chip corrosion test. The cutting fluid containing copper nanoparticles and aluminium oxide nanoparticles shows, considerable reduction in the wear rate and coefficient of friction. The load carrying capacity was enhanced maximum by 5% for the fluid sample containing aluminium oxide nanoparticles rather than base fluid. The coefficient of friction was gently reduced by 15% for the aluminium oxide based cutting fluid sample. From the tribological test results it was observed that the aluminium oxide based nano-cutting fluid shows superior resistance towards wear rate and friction than the copper based cutting fluid. The modified nano-cutting fluids with nanoparticles show signs of a better resistance towards corrosion.