Chain Reaction review
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Our cryptocurrency analysts are experts when it comes to robot platform reviews and on this page, we take a look at Chain Reaction. The automated trading system has made many bold claims on its website, including testimonials from traders who say they generate thousands in profit daily. This review investigates the services offered by Chain Reaction and helps you decide if it’s a scam or legit.
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
Pros & Cons
Pros:
Cons:
What is Chain Reaction?
Chain Reaction is an automated trading robot that facilitates the automatic execution of trades in cryptocurrency and forex markets. It uses trading software algorithms to scan market conditions and pick winning trades by performing fundamental and technical analyses. Upon calculating, the robot automatically places and executes the trade without any intervention from the trader.
Furthermore, the trading software platform also offers a manual option in forex and cryptocurrency assets for expert traders. A trader can manually define parameters for the entry or exit of a trade in a particular asset. The robot monitors the markets round the clock and will automatically execute the trader’s order as soon as predefined conditions are met.
Chain Reaction summary
| Feature | Chain Reaction |
|---|---|
| Supported cryptocurrencies | BTC, ETH, LTC, XRP |
| Fees | No fees |
| Success rate | 99.8% |
| Minimum deposit | $250 |
| Mobile app? | Yes |
| Withdrawal speed | 24-48 hours |
| Demo account? | Yes |
| Leverage available | 1000:1 |
| Customer support | Yes |
| Verification required | Yes |
| Regulations | KYC |
About the Chain Reaction platform
How does Chain Reaction work?
Chain Reaction’s trading account is connected to a network of brokers that offer trading services in cryptocurrency and forex markets. The robot uses its bespoke analysis algorithm to decode signals and identify trends. It passes these signals to the brokers through an API, and then the broker’s account will automatically execute the specified order.
What assets and products can be traded on Chain Reaction?
The automated trading software offers many prominent crypto-assets, including
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
The robot also works with forex trading. Some of the currency pairs offered on the bot’s platform include:
- USD/CHF
- GBP/USD
- AUD/USD
- GBP/CHF
- NZD/USD
- EUR/AUD
- AUD/NZD
How much does Chain Reaction cost to use?
The Chain Reaction’s official website claims no hidden costs are involved in using the services of the auto trading bot. At the same time, while the trading software robot might not directly levy a charge, you may have fees. It partners with a selection of brokers you must use to make trades. Each time Chain Reaction makes a trade on your account, you will be charged a commission. This is usually in the region of 2% for each side of a trade.
What are the payment methods accepted by Chain Reaction?
The minimum deposit required on Chain Reaction trading account is $250, after which you can start autotrading. The available payment methods include Mastercard, Visa, debit/ credit cards, Bank transfer, and SEPA transfer. Here is a list of the available payment methods for Chain Reaction.
- Bank transfer
- Credit card
- Debit card
- SEPA transfer
Is there a Chain Reaction app for both mobile and laptop computers?
Yes. Chain Reaction services can be accessed through any browser on a desktop or laptop with an internet connection. You can also download the Chain Reaction mobile app from any AppStore. The Chain Reaction mobile app can be used on your smartphone or tablet. If you don’t want to download its app, you can always use the system directly from a web browser on your mobile device. Below is a list of available devices a Chain Reaction trading account can be accessed.
- Desktop computer
- Laptop
- Smartphone
- Tablet
Chain Reaction key features
The Chain Reaction trading platform has several features that make it unique and below, we’ve explained a few of the key ones.
Advanced trading system
Chain Reaction uses advanced algorithms to decide when to enter and exit the market. Its AI technology is combined with super-fast execution speed resulting in near-instant buying and selling at profitable prices.
Other assets available
Most trading robots only focus on one asset at a time. Still, with the Chain Reaction trading platform, you can use the software to trade cryptocurrency and forex markets. Adding forex trading means you can easily diversify your trading account and capture more profits.
Use CySEC-licensed brokers
When registering an account with Chain Reaction, you must use one of its partner brokers to begin trading. All of the partner brokerages it uses are regulated by CySEC, one of Europe’s largest and best-regarded regulatory bodies.
Chain Reaction free demo account
One of Chain Reaction’s best features is its free demo account. Before you begin trading on a live account, you can test out the robot using virtual funds. This makes it easy to adjust its trade parameters and make any changes without risking your money.
Which brokers can I use with Chain Reaction?
Chain Reaction partners with a selection of brokers who offer crypto markets as well as forex trading. When you visit the official Chain Reaction website, you cannot see its partner brokers, but as soon as you have registered an account, you can choose which one you want to go for. While investigating the trading platform, we discovered two of its partners, including 24Option and UFX.
Can I trade assets with leverage?
Yes. Since the brokers associated with the auto trading software facilitate leveraged trading, users can trade assets with leverage. Chain Reaction’s official website does not mention the leveraged amount it offers, but most of these partners allow leverage in the range of 1000:1 to users.
Please note that trading crypto or forex assets with leverage is highly risky. This is primarily because both these markets are highly volatile. With higher leverage, you stand a risk of losing your capital. Always start small and build gradually.
Can I open long and short positions with Chain Reaction?
Yes. the Chain Reaction trading software allows users to margin trading and you can take a long or short position by specifying your trade position. Additionally, the trading bot also offers binary options trading, and a trader can also take the call or put positions.
In trading, a long position is when a trade is placed that the price of an asset will rise and a short position is when a trade is placed that the price of an asset will fall.
How do I get paid? What about payouts?
Withdrawals are processed through the broker’s platforms rather than the trading software. You must submit a ‘Withdrawal Request’ from the trading account dashboard. There are no limits placed on your payouts. Since all the partner brokers are regulated platforms, you may be required to submit identification and address proofs while withdrawing money to your bank account.
What is Chain Reaction’s customer service like?
Chain Reaction offers 24/7 customer services that you can access via different methods. Before registration, you can contact their customer service through a support form. Once you are a registered member, you can contact their customer service through email, live chat, and phone. Here is a list of the available customer support methods.
- Live chat
- Phone
- Online form
Safety and security
Is Chain Reaction safe to use?
Yes, during our investigation into the Chain Reaction trading software, we found the service takes many safety measures. It uses SSL authentication and anti-virus and anti-phishing software to protect users. Its partner brokers also offer a range of security features, including 2-factor authentication to help keep your trading account secure.
Is Chain Reaction regulated?
Chain Reaction itself is not regulated. However, the brokers it has partnerships with are. Chain Reaction is trading software, so there are no requirements for it to be regulated. Its brokers accept customers from across the world and are licenced by CySEC, one of Europe’s largest and best-known regulatory bodies.
Is my money protected on Chain Reaction?
You do not deposit any money with the Chain Reaction trading platform; instead, you deposit funds with its partner brokers. These brokers take special precautions when it comes to protecting your funds.
Your money is kept in a segregated bank account, meaning the broker cannot access it to conduct business. Brokers are also licensed by CySEC and offer compensation schemes. So if a broker was to go out of business, your money would be protected up to certain limits depending on your location.
Who owns Chain Reaction?
The Chain Reaction official website claims the founder of the robot is a man named John Becker, an ex-Goldman Sachs trader. However, our analysts could not find any information on John Becker being linked to Goldman Sachs. The photo used on the official Chain Reaction website also appears to be from a stock image gallery.
Chain Reaction’s claims of being founded by ex-Goldman Sachs trader John Becker seem to be false. However, our investigation into the platform revealed it was, in fact, created by a team of financial traders and software developers with many years of experience. Like most trading software robots, the creators have remained anonymous due to privacy concerns.
What is the registration and verification process?
The registration process is fairly simple. To become a member, you are required to provide a few contact details. A verification link will be sent to your email address, after which you are a verified Chain Reaction member. Below is a short guide you can follow to register and verify your account with the Chain Reaction trading software.
How to start trading with Chain Reaction
Step 1. Create an account with Chain Reaction
When you are on the Chain Reaction website, just fill out the registration form on the homepage and click sign up. You will only need to provide your name, email address, and contact number at this stage.
Step 2. Make a minimum deposit of $250
To start trading using the Chain Reaction robot, you will need to deposit a minimum of $250 trading capital into one of its partner brokerage accounts. Just create an account with the broker assigned to you and follow the instructions to make a deposit.
Step 3. Set up your Chain Reaction trading system
Now that you have your trading account registered, it’s time to set up the robot. The Chain Reaction trading software has many settings you can adjust, including what crypto pairs or forex pairs you want to trade. You should take your time at this stage to make sure the bot is running smoothly.
Step 4. Adjust risk management settings
The Chain Reaction trading software can make a large number of trades each day in the global financial markets and you should make sure your risk settings can cope with many transactions. It’s recommended that you start slow and adjust your risk as your experience with the robot grows.
Step 5. Start investing with Chain Reaction
Chain Reaction has many features, but one of its most important is its free demo account. You should start trading on a demo account before moving to a live trading account. This way, you can make adjustments and test the software without risking your money.
Has Chain Reaction been recommended by celebrities or appeared on TV?
As far as Invezz can tell, none of the stories linking Chain Reaction to influential investors, celebrities, or popular television shows is true. Many online stories have made such claims in recent years, but when we investigated these, we could not find any proof to back up their assertions about the platform.
Below are fact checks on three of the most commonly found claims of connections between Chain Reaction and notable celebrities.
Is it true that Mel Gibson endorsed Chain Reaction?
No, it is untrue that Mel Gibson is associated with Chain Reaction. Mel Gibson is one of the most well-known names in the film industry, having found success as an actor, screenwriter, and director. His most famous role was his portrayal of William Wallace in Braveheart, and his most discussed directorial contribution is the controversial 2004 film The Passion of the Christ.
Fact check: False. When researching, we could find no evidence to support the claim that Mel Gibson has endorsed this platform.
Does Daniel Craig use the Chain Reaction website?
While many online news sites have speculated that this might be the case, we looked into it and discovered that it is untrue that Daniel Craig uses this crypto platform. Daniel Craig has portrayed James Bond in the last four films in the franchise, having replaced Piers Brosnan in the role of the British 00 agent.
Fact check: False. There is no truth to the rumours that Daniel Craig uses Chain Reaction.
Has Kate Garraway publicly recommended the platform?
Kate Garraway has never publicly spoken about the Chain Reaction platform. Presenter of Smooth Radio’s Mid Mornings with Kate Garraway, and Friday co-anchor of ITV’s Good Morning Britain, Kate Garraway is a British broadcast journalist widely recognised across the media sector in the United Kingdom.
Fact check: False. Kate Garraway has never endorsed this crypto trading robot.
Is there a Chain Reaction alternative?
If you’re not sure you want to go ahead and use Chain Reaction to automate your trading, then a range of alternatives are available. Below we have provided a selection of the best-rated cryptocurrency trading software. Click on the links for our full reviews into these alternative automated crypto trading platforms and find a more suitable option.
- BitIQ uses advanced technology and AI software to buy and sell a wide range of cryptocurrencies. It’s also one of the top-rated crypto trading software’s around.
- Immediate Edge is one of the most popular cryptocurrency bots and has a big following of users. It finds trades in the whole of the crypto market.
- Bitcoin Motion is a good option if you want a robot that trades the Bitcoin market. It also can be used in the wider crypto space and has lots of trading strategies included in its software.
- Ethereum Code focuses on the Ethereum blockchain so you can’t trade the likes of Bitcoin on it. It does, however, offer a selection of top coins and is fully automated.
- Bit Index AI is programmed to use artificial intelligence to identify trading opportunities in the crypto market.
Our top robot trading tips for beginners
Before online trading in the financial markets, you must conduct thorough research of the cryptocurrency and forex markets. The prices of assets are highly volatile, and you may lose money with irrational decisions. Even when using a robot, you should never invest in financial markets you don’t understand. Here are some tips you must consider before starting to trade using the Chain Reaction trading software.
- Familiarise yourself with trading. A beginner should understand and familiarise themselves with different aspects of cryptocurrency and forex markets. You should also understand risk mitigation strategies to minimise the potential impact of losses in cryptocurrency or forex trades
- Understand cryptocurrency space. The cryptocurrency market schematics function differently in comparison to traditional markets. The markets are relatively nascent and also highly volatile.
- Start with a demo account. Chain Reaction facilitates the option of demo trading for users. This allows users to not only familiarise themselves with trading in these markets but also gives them a chance to navigate the robot’s trading systems and dashboard.
- Start small and build gradually. Start by investing and trading in small amounts. It is advisable to not indulge with higher leverage as it comes with its own set of risks and a trader stands to lose their entire capital if caution is not exercised.
- Only invest what you can afford to lose. You should never invest more than you can afford to lose. Starting small and building over time is the best approach to investing.
Our final verdict on Chain Reaction
While the robot can be accessed for certain services, its official website is filled with bold and unverified claims. We could find no reason to believe these claims are true. The testimonials of people earning thousands of dollars in profits do not appear to be legitimate, and claims that influential investors and celebrities use Chain Reaction’s software are totally incorrect.
Beginners should treat any statements asserted by the founder of Chain Reaction or mentioned on the platform’s website with caution.
Expert traders can use the services of the Chain Reaction trading system to automate their trades 24/7, so the software does have some benefits. However, if you’re planning to use this robot solely with the expectation that you will generate large amounts of money, you may be disappointed. We recommend the Chain Reaction robot to be a useful addition to your overall trading activities.
Methodology: how we scored this Chain Reaction review
Every cryptocurrency trading robot review on our website follows the same rules when evaluating the platform. In the case of Chain Reaction, we first created a free account and made an initial deposit of $250. We then connected the robot to its recommended trading platform before adjusting some settings and letting it trade.
We combined our research and analysis with online reviews from trading software users during our review. We then scored the trading platform based on our findings and other users’ reviews.
The final ranking is recorded as a score out of five stars. No platform can influence the score, but we may be paid a fee if you use one of the links on this page to sign up with a partner service. Learn more about how we make money and our review process
FAQs
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