Guru Trade7 markets itself as a global trading platform, claiming over 20 million users and offering features like a ₹10,000 demo account and a ₹100 minimum deposit.
However, multiple credible sources and user reviews raise significant concerns. It’s essential to dig deeper into its legitimacy and the risks involved. In this article, we’ll review the app’s features, user experiences, its regulatory standing, and more.
Let’s break it down.
Guru Trade7 App
Guru Trade7 markets itself as a global trading platform, claiming to have over 20 million users.
It offers:
- 24/7 Trading: Users have round-the-clock access to the global markets, enabling trades at any time.
- ₹10,000 Free Demo Account: A feature that allows users to practice trading without risking real money.
- ₹100 Minimum Deposit: Makes the platform accessible to beginners, with a small entry barrier.
On the surface, these offerings may seem attractive, especially to newcomers in trading. But despite these promising features, there are significant concerns raised by users and industry experts alike.
How Does Guru Trade7 Operate?
Guru Trade7 positions itself as a user-friendly platform for both new and experienced traders. Key features include:
- Real-Time Market Data: Up-to-date information to help users make informed trading decisions.
- User-Friendly Interface: The platform is designed to be intuitive, with a focus on ease of use for beginners.
- Multiple Payment Options: A variety of methods for both deposits and withdrawals.
However, user reports suggest that some alarming issues overshadow these features:
- Funds Not Credited: Despite successful trades, users have claimed that their earnings are not reflected in their accounts.
- Withdrawal Issues: Many users have reported Guru Trade7 withdrawal issues.
Many users mentioned that their requests were denied or delayed indefinitely, leading to frustration and concerns about the platform’s reliability.
These problems raise serious questions about the platform’s legitimacy and whether it’s genuinely a safe place to trade.
Is Guru Trade7 Safe?
Whenever trading on any platform, the first thing one must consider is the legitimacy of the app.
In the case of Guru Trade7 online trading platform, there is not one but several signs that raise a question on its safety & regulation.
Let’s check it one by one to ensure that you are putting your capital in the right platform
Is Guru Trade7 SEBI Registered?
The major red flag is its unregulated operations.
Yes, you read it correctly.
So, how many of you have checked such platforms before signing up?
Many of you wouldn’t be aware of such checkpoints, right?
And this is where such scammers are able to manipulate & misguide you. So, as of now, Guru Trade7 is not registered with SEBI, which means it is not legally authorised to operate as a trading platform in India.
This is a significant concern for any investor considering trading in India
Is Guru Trade7 Real or Fake?
Based on user reports and the lack of regulatory oversight, Guru Trade7 appears to be a high-risk investment.
The issues with deposits, withdrawals, and a general lack of transparency are significant red flags that make it unsafe for trading.
How to Report a Fake Trading Platform?
If you suspect that you’ve encountered a fake trading platform like Guru Trade7, here’s what you can do:
- Contact Customer Support
If you can access support, document all communications and try to resolve any issues through official channels. - File a Complaint in SEBI
Since Guru Trade7 claims to be an investment & trading platform, operating illegally in India, you can file a complaint with SEBI by sending an email with all evidence and proof. - File a Cyber Crime Complaint
If you believe the app has scammed you, file a complaint on the National Cyber Crime Reporting Portal or contact your local police for assistance.
Need Help?
Register with us, and we will guide you through the process to file a complaint against such unregulated and illegal trading platforms in India.
Remember, quick action increases the chance of getting recovery of your losses.
Conclusion
While Guru Trade7 might seem like an attractive option at first with its low minimum deposit and the promise of easy trading, the lack of regulatory oversight, user complaints, and withdrawal issues make it a risky platform.
It’s crucial to prioritise safety and use only SEBI-registered platforms for any form of financial trading.
Before committing any funds, always verify the platform’s legitimacy, read user reviews, and ensure that it is regulated by financial authorities like SEBI.
