Best way to move to new iPhone 11?

As long as your iPhone 7 is running the current iOS level and you backup to iCloud just before you set up the new phone, you'll be really happy with QuickStart. It's honestly amazing and amazingly simple. Turn on your new phone, and it will guide you to hover the new phone over the iPhone 7, where you will see the Quickstart graphic and once your new phone sees it, everything (well almost everything) transitions over to the new phone, like magic.

You're welcome and I think you'll really be impressed with how simple and seamless this makes setting a new iPhone from a previous iPhone. There may be a few passwords that won't come over, like Facebook if I recall, but almost everything does come over, included Wifi passwords, which is terrific. You will likely need to pair your Bluetooth devices to the new phone and if you use Bluetooth in the Car, connect the new phone to your car system. Otherwise, it's simply the least painful process EVER.

I think whether you sync your new phone from iCloud backup or the Quick Start which relies on the iPhone:iPhone Apple Wireless Direct Link (which is how other services like AirPlay and AirDrop work) . It can have glitches and interference and is slower for certain things. I think the “best” way is dependent on how many Apps you have. The direct transfer method of Quick Start will not be as fast as then Apps are uploaded from the App Store to make sure the latest version of the App is installed. Depending on having good Wi-Fi since I have over 300 Apps I will opt I think for the iCloud route ....but for more “normal” users the direct transfer may be easier. (I am a digital artist/iphoneographer and use a lot of apps)

Yes, it came out after iPhone 7. I've used it the last couple years and have found it to be fantastic all the way. I'm pretty good with iOS and iPhone and I use it personally.

If you have not backed up to iCloud, please do now. Because that is the the best option according to my experience.

As long as you're at least at iOS 12.4.1, you don't need to update the phone to iOS 13 in advance of using Quick Start. I usually do, but it's not required.