Michael Graw7Tesler, also known as the Tesler trading system, is advertised as an automated trading platform designed to find profitable trading setups and act on them on traders’ behalf.
The platform, sometimes spelt 7 Tesler, claims to be capable of trading several popular cryptocurrency markets, including Bitcoin, Ethereum, Ripple, and Litecoin. 7Tesler doesn’t provide many details about its past performance, but the platform’s website lists positive reviews and testimonials from current and past users.
Reviews can be fake however. So, is 7Tesler legit? In our 7Tesler review, we’ll look closely at this trading platform to help traders decide if it’s right for them.
7Tesler Summary
Our 7Tesler review identified the most important features of this trading platform, which we’ve summarized in the table below:
| Platform type | Trading platform with trading signals |
| Supported markets | BTC, ETH, XRP, LTC |
| Withdrawal time | 24 hours |
| Minimum deposit | $250 |
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What is 7Tesler?
7Tesler is a trading platform that identifies potential trading setups in the prices of popular cryptocurrencies. This is commonly known as an automated or algorithmic crypto trading platform.
7Tesler’s algorithm is able to identify setups that may generate profits from crypto trading. In addition, the platform can carry out trades on behalf of traders, using money from their accounts to enter trades. However, there is no guarantee of profit and traders should keep in mind that all trading carries risks.
According to 7Tesler, its platform is designed to be used by newcomers to the crypto market and experienced traders alike. Anyone can get started using the crypto trading platform in a short amount of time.
At this time, the 7Tesler crypto app is capable of trading 4 of the most popular cryptocurrencies: Bitcoin, Ethereum, Ripple, and Litecoin. There are no fees for using the platform and no commissions on traders’ profits. The only financial requirement to get started using 7Tesler is to make a $250 minimum deposit when opening a new account.
7Tesler has a claimed win rate of 85% – in line with other trading bots – although we could not verify those claims.
Who Owns 7Tesler?
7Tesler has anonymous developers and there is little information on their website, but they are believed to be a group of professional traders.
There have been several claims that the likes of Elon Musk or Jeff Bezos are behind the bot, but we found no evidence to support those claims.
7Tesler Pros & Cons
Pros
- No crypto trading experience required
- Generates trading signals and trades on behalf of users
- 24/7 operation with no downtime
- Fast, free withdrawals
- Trade Bitcoin and several popular altcoins
Cons
- Requires a $250 minimum deposit to open an account
- No information about development team
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
How Does 7Tesler Work?
The 7Tesler trading platform relies on a sophisticated algorithm in order to generate trading signals as the prices of cryptocurrencies move up and down. The platform does not provide much information about this algorithm, which is proprietary.
However, it could have been trained on several years’ worth of cryptocurrency market data and be designed to recognize price patterns that have preceded profitable price movements in the past. Bitcoin robots have been popular for some years, since the 2017 crypto bull run.
7Tesler issues alerts to traders when these price patterns are recognized. The platform also works on its own to open trades, using money from traders’ accounts to open positions in accordance with the crypto signal. As a trade unfolds, 7Tesler’s algorithm keeps track of its progress and exits the position once a stop loss level or take profit level is reached.
At that time, all proceeds from the trade, including any profits, are returned to traders’ accounts. That money can then be used for another trade or withdrawn.
Traders should remember that while 7Tesler is able to identify setups and trade on behalf of users, there is no guarantee that its signals are accurate. All trading carries risk.
Which Exchanges and Brokers is 7Tesler Partnered With?
We were unable to verify which exchanges and brokers 7Tesler has partnered with, although it works with CySEC (Cyprus)-licensed brokers to ensure trading is done legally.
Can I use 7Tesler in My Country?
7Tesler can be traded in more than 150 countries, according to its website and other sources, although it is not totally clear if that includes countries with stricter regulations such as the US and UK.
How Much Profit can be Made from 7Tesler?
7Tesler has a claimed win rate of 85%, which matches other similar trading bots – although we were unable to verify the claims.
It is important to note that although Bitcoin and crypto trading can be extremely lucrative, there are inherent risks and losses on some trades are inevitable.
Furthermore, we would recommend potential users keep a close and regular eye on the trading bot to ensure it is performing to their expectations.
Always invest invest only what you can afford to lose and remember that in many countries trading profits are taxable.
7Tesler Key Features
We identified several key features of this trading platform as part of our Tesler trading system review:
No Crypto Trading Experience Needed
According to 7Tesler, this trading platform can be used by beginner traders and experienced traders alike. There is no prior cryptocurrency trading experience required to get started with 7Tesler. Experienced traders may be able to jump in immediately, while beginners may need to spend a little more time familiarizing themselves with the 7Tesler dashboard.
Trade 4 Popular Cryptocurrencies
7Tesler is capable of trading 4 of the most popular cryptocurrencies by market cap: Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies are highly volatile and do not always move in the same direction as one another, which potentially creates more opportunities for the platform to trade.
Demo Trading
7Tesler offers a demo trading account for all traders. Demo trading, also known as paper trading, gives users a chance to assess 7Tesler’s performance under current market conditions. It also gives them an opportunity to evaluate the platform overall and decide whether 7Tesler is suitable for their trading style and goals.
Traders must open a 7Tesler account in order to access the demo trading account.
Fast and Free Withdrawals
7Tesler makes it relatively easy for traders to withdraw funds from their accounts. The platform processes withdrawal requests in under 24 hours and does not charge any withdrawal fees. As a result, traders can move money out of their accounts at any time to realize profits from trading with 7Tesler.
Works on Any Device
According to 7Tesler, the trading platform works on any device, including Windows and Mac computers and iOS and Android mobile devices. The trading platform is also available on the web for traders who do not want to download and install software. This makes it simple to access 7Tesler from anywhere.
7Tesler Fees
There are no fees for using 7Tesler. The platform does not charge account fees, trading fees, or commissions on profits that traders earn while using the platform. 7Tesler also does not charge deposit or withdrawal fees.
| Account fees | None |
| Deposit/withdrawal fees | None |
| Commissions | None |
Is 7Tesler a Scam?
One of the main goals of our 7Tesler review is to answer the question, ‘Is 7Tesler a scam or legit?’
We found that the 7Tesler trading platform is able to trade Bitcoin and several popular altcoins on behalf of traders and that it uses an algorithm to do so and claims a win rate of 85%, although we could not verify that claim.
We also found that the platform offers a demo trading account, enabling users to test out 7Tesler for themselves. We also found that 7Tesler reviews available on the platform’s website are highly favorable. These testimonials are handpicked by 7Tesler and come from past and current users.
However, there is no way to assess the legitimacy of these reviews and it is unconfirmed whether traders have made money with 7Tesler. Traders should bear in mind that all trading carries risk and that past performance does not guarantee future results.
Scouring Reddit and Twitter we found very little social media profile on either. However, the Tesler TrustPilot rating is cause for concern, with 110 users on the peer review website rating it at only 1.6 out of 5, with the majority of reviews rating it only 1-star, while there are a number of negative reviews on YouTube.
Potential users should also be wary of any adverts or articles that link 7Tesler with Elon Musk or other high-profile celebrities, we found no evidence that there is any connection between them.
7Tesler Minimum Deposit
7Tesler does not charge any account fees. However, all new traders must make a deposit of $250 in order to open an account and start trading. This deposit can be made by credit card, debit card, bank transfer, or e-wallet.
Traders’ initial deposit to 7Tesler remains theirs and they can withdraw the money at any time without fees.
7Tesler Celebrity Endorsements
As previously mentioned, celebrities and high-profile investors have been used in some rogue adverts to help promote 7Tesler.
Our research found that there is no connection or endorsement from any of the celebrities and 7Tesler.
Does Elon Musk Endorse 7Tesler?
No. Tesla owner Elon Musk has no known connection to 7Tesler, despite his support of cryptos
Does Jeff Bezos or Amazon Endorse Bitcoin Motion?
We found no connection between billionaire Jeff Bezos or his company Amazon with 7Tesler
Does Martin Lewis Endorse Bitcoin Motion?
Martin Lewis is a British TV presenter and expert on financial matters – we found no endorsement or connection to 7Tesler.
7Tesler Customer Support
7Tesler says that it provides customer support by phone and email 24/7. Note that customer support is only available to traders with an existing 7Tesler account. There is no way to get in touch with the support team prior to opening an account.
How to Use 7Tesler
Ready to trade cryptocurrencies with 7Tesler? We’ll show traders how they can get started using 7Tesler in just a few simple steps.
Step 1: Sign Up
To sign up for 7Tesler, head to the platform’s website and find the registration box near the top of the homepage. New users must provide their name, email address, and phone number. When ready, click ‘Register Now’ to create a trading account.
Step 2: Deposit Funds
7Tesler requires all new users to make a minimum deposit of $250. The platform accepts credit cards, debit cards, bank transfers, and e-wallet payments.
Step 3: Demo Trading
Traders can jump right into live trading with 7Tesler, but many will want to start with demo trading. This gives users a chance to familiarize themselves with 7Tesler’s platform and evaluate how the trading service performs under current market conditions before risking real money.
Step 4: Live Trading
Once traders are satisfied with using 7Tesler in demo mode, they can activate live trading. This activation can be done by toggling a switch in the 7Tesler dashboard. Once live trading has been activated, 7Tesler will automatically begin using funds in the trader’s account to open real positions in Bitcoin, Ethereum, Ripple, and Litecoin.
How to Withdraw Money from 7Tesler?
Rather than store funds themselves, users’ 7Tesler funds are held by the partnered broker and can, therefore, be withdrawn from those platforms:
- Visit the broker’s website and log into your account
- Visit the wallet section and select your preferred payment method
- Enter the amount to withdraw and complete the transaction
- It should take up to 24 hours to process
Note that 7Tesler brokers only pay out in fiat.
How to Delete 7Tesler Account?
7Tesler accounts can be deleted by simply heading to the settings menu and following the instructions.
It can alternatively be done on the broker’s platform.
Latest Bitcoin News
To keep ahead in the market it is vital to keep up to date with the latest news regarding Bitcoin and the wider crypto space. Here are some of the main headlines from the week ending January 29, 2023:
- Bitcoin billionaire Roger Ver has disputed bankrupt crypto lender Genesis’ claims that he owes $21 million, citing a prior agreement that was broken.
- US authorities allege Sam Bankman-Fried used misappropriated FTX funds to invest $400 million in the relatively unknown VC firm Modulo Capital.
- Rep Wendy Rogrs, an Arizona state senator, has introduced a bill aimed at making Bitcoin legal tender in the state.
The Verdict
7Tesler is described as a cryptocurrency trading platform that issues crypto signals and can enter trades on behalf of users. The platform has favorable reviews from past and current users, although traders may want to be wary of these since they are testimonials supplied by the platform.
There are some red flags as to whether 7Tesler is a scam or legitimate circulating on Google and social media platforms, so test out a withdrawal early on if you do decide to try 7Tesler trading out.
As with most crypto trade bot programs, it offers a demo account that enables traders to try out the platform and evaluate it for themselves, so also make use of that before committing to a larger real money deposit.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
FAQs
What is 7Tesler?
Is 7Tesler legit?
How do I join 7Tesler?
Who owns 7Tesler?
This article was written for Business 2 Community by Michael Graw.
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