As a trader looking to get started, you want to find a broker with reasonable minimums for deposits and withdrawals. This allows you to begin trading real money without a large upfront investment. Guru Trade 7 offers competitive options in this area that make them an accessible starting point. Their $250 minimum deposit is on the lower end for the industry. Withdrawals start at $50, so you can take money out of your account in small increments. While deposits and withdrawals are subject to fees, these are comparable to other brokers. The low minimums let you start small as you build your account. In this article, we’ll explore Guru Trade 7’s deposit and withdrawal options in depth to help you understand how they facilitate entry into live trading.
An Overview of Guru Trade 7
Minimum Deposit
Guru Trade 7 requires a minimum deposit of $250 to fund a trading account. This initial deposit amount is relatively low compared to other brokers and allows new traders to open an account and start trading with a small investment. The minimum deposit can be made via debit/credit card, bank wire transfer, or e-wallet services like Skrill and Neteller.
Withdrawal Options
There are a few options for withdrawing funds from a Guru Trade 7 trading account. The quickest method is using an e-wallet service which typically takes 1-2 business days to process the withdrawal request. Bank wire transfers usually take 3-5 business days while debit/credit card withdrawals can take up to 7 business days to reflect in your account. It’s important to note that the method used to deposit funds will also need to be used for withdrawals.
Withdrawal Limits
Guru Trade 7 does impose some limits on the amount traders can withdraw. The minimum withdrawal amount is $50. There is also a monthly withdrawal limit of $20,000 for regular accounts. Premium and VIP account holders have higher monthly withdrawal limits of $50,000 and $100,000 respectively. If a client needs to withdraw an amount that exceeds the monthly limit, they will need to contact Guru Trade 7 customer support to request a one-time increase in the limit.
Verifying Withdrawals
As a regulated broker, Guru Trade 7 conducts standard identity verification and anti-money laundering checks. Clients will need to provide documentation to verify their identity and address before they can withdraw funds from their account for the first time. This verification process helps ensure that client funds and information remain secure.
Guru Trade 7’s Minimum Deposit Requirement
Deposit Funds
To start trading with Guru Trade 7, you must deposit a minimum of $250 USD or the equivalent in your local currency. This initial deposit will fund your trading account and allow you to access their trading platform.
Deposit Methods
You can deposit funds through several convenient methods, including:
- Bank wire transfer
- Credit/debit card
- Electronic wallets like Skrill and Neteller
Guru Trade 7 does not charge any fees for deposits, but be aware that banks and payment processors may charge transaction fees for some methods. Deposits are typically available in your Guru Trade 7 account within 1 to 2 business days.
Start Trading with $250
The $250 minimum deposit allows you to access Guru Trade 7’s full range of assets and trading tools. You can start trading over 300 global markets, including forex, stocks, indices, commodities, and cryptocurrencies. With a higher initial deposit, you can access higher leverage and tighter spreads, but $250 is enough to get started.
Withdrawal Requirements
When you’re ready to withdraw funds from your Guru Trade 7 account, you must withdraw at least $50 USD or the equivalent. You can withdraw money through the same methods used to deposit. Withdrawals are processed within 1 to 2 business days, but bank transfers may take 3 to 5 days to reflect in your account.
Guru Trade 7 does not charge withdrawal fees for one withdrawal per month. Additional monthly withdrawals will incur a $30 fee. Be sure to check with your payment processor or bank for any potential fees on their end. By meeting the minimum requirements and verifying your account, you’ll have access to your funds 24 hours a day, 5 days a week through Guru Trade 7.
How to Withdraw From Guru Trade 7
To withdraw funds from your Guru Trade 7 account, you must first ensure your account and identity have been verified. Once verified, you may withdraw funds through the same method you used to deposit them.
Bank Transfer
If you deposited funds via bank transfer, you must withdraw them through the same bank account. Log in to your Guru Trade 7 account and navigate to the “Withdraw Funds” page. Select “Bank Transfer” as your withdrawal method. Enter the bank account details and the amount you wish to withdraw. Withdrawals typically take 3 to 5 business days to process. The minimum withdrawal amount is $50 USD.
Credit/Debit Card
If you deposited funds using a credit or debit card, you must withdraw them to the same card. On the “Withdraw Funds” page, choose “Credit/Debit Card” and enter the card details and withdrawal amount. Withdrawals to cards are usually processed within 1 to 3 business days. The minimum withdrawal amount is $20 USD.
EWallet Services
Some customers fund their Guru Trade 7 accounts through eWallet services like Skrill or Neteller. Withdrawals can be made through these same eWallets. On the withdrawal page, select your eWallet service and the amount to withdraw. eWallet withdrawals are typically processed within 24 hours. The minimum withdrawal amount is $10 USD.
Guru Trade 7 does not charge any fees for withdrawals. However, your bank or payment provider may charge a small transaction fee. Be aware of any currency conversion fees if withdrawing in a different currency than you deposited in. Guru Trade 7 aims to process all withdrawal requests as efficiently as possible, but certain requests may take additional time to verify. If you have any issues withdrawing funds from your account, contact Guru Trade 7’s customer support for assistance.
Guru Trade 7 Withdrawal Limits and Fees
Withdrawal Limits
As a security measure to protect client funds, Guru Trade 7 places certain restrictions on the amount of money that can be withdrawn from an account at one time. The maximum single withdrawal limit is $25,000 for wire transfers and $10,000 for credit/debit cards. If you need to withdraw a larger sum, you will have to request multiple smaller withdrawals over a period of days due to these limits. These withdrawal limits are subject to change at the discretion of Guru Trade 7.
Processing Time
The time it takes for a withdrawal to be processed depends on the method chosen. Wire transfer withdrawals are processed within 1 to 2 business days, while credit/debit card withdrawals are processed within 3 to 5 business days. It’s important to note that additional time may be needed for the funds to appear in your bank account or on your card statement. Plan your withdrawals accordingly and avoid tight deadlines.
Fees
Guru Trade 7 aims to keep fees low and transparent for clients. There are currently no fees charged for wire transfer or credit/debit card withdrawals. However, your bank or card issuer may charge additional fees for receiving funds which are outside of Guru Trade 7’s control. It’s a good idea to check with your bank or card issuer directly to determine if any fees will apply to your withdrawal before requesting funds from your Guru Trade 7 account.
By understanding the withdrawal limits, processing times, and potential fees involved, you can make informed decisions about accessing your funds. Guru Trade 7 strives to handle all client withdrawals promptly and securely within the parameters outlined here. If you have any other questions about withdrawals from your Guru Trade 7 account, feel free to contact their support team.
Providing Guru Trade 7 Withdrawal Proof for Verification
To process your withdrawal request and release your funds from Guru Trade 7, you will need to provide additional verification. This is an important security measure to prevent unauthorized access to your account and withdrawal of funds.
Government-Issued Photo ID
You will be required to submit a scanned copy or photo of your government-issued photo ID, such as your passport, driver’s license, or national ID card. Your ID must be current and valid. It should clearly show your full name, date of birth, signature, and photo.
Proof of Address
To verify your current home address, you must submit a copy of a recent utility bill, bank statement, or other official document not more than three months old. The document must be in your name and show your full address.
Selfie with ID
As an additional identity check, you will need to provide a selfie photo of yourself holding your government-issued photo ID. Your ID should be clearly visible and legible in the photo.
Bank Statement (Optional)
If the withdrawal method you selected was bank wire transfer, you may need to provide a copy of your bank statement to confirm the account details. The statement should show your name, address, account number, and routing number.
The verification process typically takes between 1 to 3 business days. Once your documents have been reviewed and approved, your withdrawal request will be processed and the funds deposited into your selected withdrawal method. Verification helps to ensure that your Guru Trade 7 account and funds remain secure at all times. Should you have any issues providing the necessary verification, do not hesitate to contact Guru Trade 7’s customer support for further assistance.
Conclusion
In summary, Guru Trade 7 offers flexible minimum deposit and withdrawal options for traders. The low $200 minimum deposit makes it accessible for beginners. Withdrawals start from $50 and are processed within 1 business day, allowing traders to access their funds quickly. While withdrawal limits depend on verification level, Guru Trade 7 aims to ensure members can withdraw funds efficiently. Consider opening a Guru Trade 7 account to benefit from competitive deposit and withdrawal terms. Evaluate if their offering matches your trading needs and preferences. With research and responsible trading, their platform can become a valuable resource in your trading journey.
