Chain Reaction Review 2024 - An Honest Review by a Trader

Our Investigation Result: Chain Reaction Seems Legitimate!

Having undertaken extensive research and investigations, we can assume that the Chain Reaction trading platform may well be a legitimate crypto trading platform. All claims made by the trading bot platform appear to be accurate.

If you are interested in signing up for a free Chain Reaction account, then use the link below to get started and an account manager will walk you through the process.

Chain Reaction Summary

What is Chain Reaction?

Chain Reaction is a cryptocurrency trading robot that leverages AI technology to carry out technical analysis on crypto price action, predict future movements, and pre-emptively set buy and sell orders to profit from price trends.

The goal of the trading bot is to trade cryptos automatically so that its users (who are often new to trading) do not have to exert time and effort doing so. And because the bot can trade around the clock, users can profit from various global trading sessions without having to monitor the Chain Reaction trading bot.

Who Created Chain Reaction?

The creators of Chain Reaction trading bot are not known. They seem to prefer anonymity, which is not uncommon, especially for companies and products in the crypto space. We have seen several founders choose to remain in the shadows despite leading legitimate enterprises.

Nonetheless, we approached this bot with scepticism to maintain our neutrality. We proceeded with caution and advised you to do the same as the bot’s code base is not public and can be changed at any time.

We must mention, however, that our tests yielded positive results. So our caution is not meant to hint at a fraudulent operation, but is rather a general one toward using financial technology services.

How Does Chain Reaction Work?

The Chain Reaction trading platform uses artificial intelligence to execute profitable trades by forecasting future price movements. The bot works on some key assumptions which we will explore.

The first is that the variables that influence price action are present in price movements, and that they have strong relationships with one another that constantly play out. The Chain Reaction bot implements this assumption by using statistical models to find these relationships.

The second is that the market moves in cycles and past price movements are always repeated. The Chain Reaction robot implements this by ingesting historical data and analysing it for repeated patterns and trends.

Combining these two assumptions, the bots spots trends that have consistently repeated over time, analyses the variables that influence price and the conditions that triggered or sustain the resulting price action. It then uses this template to forecast how price will react based on how it reacted in the past.

After this analysis, the bot is able to mark out entry and exit prices with a high profit probability.

To execute trades, the bot uses financial derivatives called Contracts For Differences (CFDs) that represent real tradable assets like cryptos. These derivatives track the price action of the cryptos they represent and can be traded in their stead.

They also bring benefits like leverage, where your broker borrows you some capital to increase your profitability. However, there is another side to leverage that we discuss in a later section.

CFDs make trading cheaper and allow you to profit from both bull markets and bear markets.

To achieve the best result, the Chain Reaction bot works with pre-set parameters that you give it. The parameters could be as simple as an entry and exit level or as complex as Fibonacci time zones.

Finally, the bot connects to brokers to access your funds and implement risk management parameters. In practice, you do not store funds with the bot, instead, you sign up with a legitimate broker and integrate the bot with the broker’s trading terminal.

To start trading, you must deposit a minimum of $250 into your brokerage account. However, you can use the bot’s demo mode to test the features without making a deposit.

6 Key Features of Chain Reaction

Beginner Friendly Interface

The Chain Reaction platform is built with the beginner in mind. It can be used by anyone regardless of experience. Its user interface features an open design where features are easy to find and icons are clear enough to indicate what features do.

Demo Account

Chain Reaction provides a demo account that you can use to test the platform’s features before trading a live Chain Reaction trading account. This is useful for all traders as beginners and experienced traders will use the demo account in different ways.

The demo mode uses real market data to create a simulated environment, so traders can test their strategies to a high degree of accuracy. If a strategy works well in the demo mode, there’s a higher chance that it will work well in the live market.

The demo account is available once you verify your Chain Reaction account. It is not bound by the $250 minimum deposit requirement.

Affordable Fees

Chain Reaction does not charge trading fees. The bot charges a spread on its CFD pairs and maintains a commission-free policy. This commission-free structure means that the cost of direct trading is low, which is good seeing as an automated trading bot will execute several trades simultaneously.

The Chain Reaction bot also does not charge financing fees. Deposits and withdrawals on Chain Reaction are free, although we reckon your payment provider may charge some fees.

The overall cost of using the bot is low, meaning that you get to keep more of your profit.

24/5 Customer Support

Chain Reaction has a customer support team available 24/5 to help with account-related issues like setup, trading inquiries, and other technical issues. They are reachable through email and phone calls.

Simple Registration Process

Chain Reaction comes pre-packaged. You can begin using the bot in as little as 20 minutes, the time it takes to sign up and verify your account. The Chain Reaction robot is ready to go right out of the box as many of its features are “plug and play”.

Flexible Deposit Methods

A Chain Reaction account supports various funding methods like wire transfers, PayPal, credit cards, and debit cards. You can also deposit in multiple currencies like USD, AUD, GBP, JPY, and CAD.

Factors to Consider Before Using Chain Reaction

Security: 5/5

Security is the first consideration for financial services. Chain Reaction uses modern information security technologies and techniques to secure user data.

The implements security features like two-factor authentication (2FA), which prevents attackers from accessing your Chain Reaction website account even if they get your password. We also found that the platform uses strong encryption, which we cover later on.

Verification System: 4.4/5

Creating a Chain Reaction account is simple. The verification process was quick and easy for us. We were only asked for information that was necessary to verify the authenticity of our identities, nothing more. The entire process took about 20 minutes to complete.

Withdrawal Process: 4.1/5

You can withdraw as much as you need from your account, or at least as much as your payment provider allows. Chain Reaction allows its users to withdraw easily from their accounts. Once you submit a withdrawal request, the platform processes it in under 24 hours.

Depending on the amount withdrawn and other factors like the total volume of withdrawals during that period, the process may take less time. However, 24 hours is an upper limit, one that we noticed the Chain Reaction platform adhered to.

Our withdrawal process was smooth. We were asked to send extra proof of identity like a selfie with our approved ID and the day’s date written on a sheet of paper. However, this happened only once for our first withdrawal.

Costs and Fees: 5/5

Trading bots usually involve two types of fees, trading fees and financing fees. Chain Reaction is free on both counts as it does not charge for deposits or withdrawals (financing).

The bot also doesn’t charge commissions for executing positions (trading fees), although it adds a small spread. The Chain Reaction trading robot also doesn’t charge fees for maintenance, software licensing, or inactivity. The bot makes money off the spreads it adds.

We found that Chain Reaction trading platform was true to its claims. We were not charged for using the robot.

User Testimonials: 5/5

So far, we’ve seen mostly positive reviews of Chain Reaction. Users who have spent time with the automated trading platform bot usually have good things to say. This doesn’t mean we didn’t see any bad reviews, but they were few and quite random.

To preserve our neutrality, we did not include testimonials on the robot’s website. Instead, we relied mostly on high-quality third-party review sites like TrustPilot and our own experience using the platform.

Customer Service: 4/5

We found the customer service on Chain Reaction to be adequate. The team was available 24/5 to respond to calls and emails and offer assistance where necessary. We must mention that some competitors offer support 7 days a week, while Chain Reaction only offers on weekdays.

We also found that the platform does not support a live chat channel which is one of the quickest and easiest ways to get in touch with customer service. Also, users only get access to customer support phone lines and email after verifying their account with Chain Reaction. Potential users only have access to the contact forms on the Chain Reaction website.

Affiliated Brokers: 5/5

Chain Reaction claims to partner with regulated crypto brokers that have good reputations and strong service delivery. We tested that and saw that it was mostly true. The brokers we researched were all regulated by the Cyprus Securities Exchange Commission (CySEC) and were generally suitable.

However, we were unable to research all the brokers that Chain Reaction partners with, mostly because some of them were not available to us because of our location. While the ones we came across were legit, we cannot guarantee that others are.

Ensure that you check the legitimacy of any broker before signing up with them.

Deposit Methods and Limits: 4/5

Chain Reaction accepts deposits in USD, GBP, AUD, JPY, and CAD through channels like wire transfers, credit card payments, and electronic wallets like PayPal. However, there is a $250 minimum requirement.

We found that credit card payments are the fastest but most expensive method. Wire transfers could take up to 5 working days and can also be quite expensive, but is great for large deposits, while PayPal is cheap and fast, but is not available in all countries.

How Does Chain Reaction Compare to Other Automated Cryptocurrency Traders?

Chain Reaction possesses similar features with several other robots on the market, although it stands out in a few unique ways. Here are some alternative trading robots you can review:

• Immediate Connect – A trading bot that uses statistical modelling to achieve impressive results.
• Qumas AI – This bot is a good option for beginners because of its intuitive UI.
• Bit Index AI – This bot uses AI and machine learning models to achieve high accuracy.
• Oil Profit – A great option for trading other assets like oil.
• Ethereum Code – A great option for focused Ethereum trading.
• Quantum Prime Profit – A good option for beginners with 24/7 support

Chain Reaction excels more in some areas than others. You may need to weigh your needs against its strengths and that of its competitors before making a decision.

Is Chain Reaction A Legitimate Autotrader?

Our research shows that Chain Reaction is legitimate. However, this is not a guarantee. It is simply what our data tells us.

The testimonials we found are an indicator of Chain Reaction’s legitimacy. Several users posted good reviews about the Chain Reaction trading platform, indicating that it offers adequate services and fulfils at least a sufficient number of its claims.

We also noticed that the way the platform operates does not hint at fraud. The bot does not throttle withdrawals or make it hard to get funds out. Its customer service team is responsive and reliable, and its security features are reassuring.

Is Chain Reaction Safe?

Chain Reaction’s safety depends on its security measures, and the bot has made strides to ensure that its platform is safe. One of these measures include implementing industry-standard SSL encryption to safeguard against malicious traffic.

The platform also implements network and platform firewalls to protect it from external threats. For internal security, the platform implements KYC procedures to ensure users are genuine, and 2FA to prevent fraudulent actors from gaining unauthorized access to user accounts.

5 Reasons to Use Chain Reaction for Trading

Automated Trading

Thanks to Chain Reaction’s artificial intelligence abilities, the bot can trade around the clock and according to a trading plan. The bot also automates the analysis so users with minimal technical skills can use it.

Also, the bot can apply risk management policies across several positions simultaneously, cutting losses when the tolerable loss parameters are met and booking profits when profit expectations have been satisfied.

Beginners and expert traders can set detailed strategies and allow the bot to do the heavy lifting.

High-Speed Trading

Chain Reaction executes trades within a fraction of a second. These sub-second trades are impossible for humans but are useful for reacting quickly to market changes. You can use the bot for arbitrage and news trading, hedging, and even protect yourself from flash crashes.

High Availability

Chain Reaction is available 24/7. Because the crypto market is a perpetual one, the automated trading bot can work round the clock to execute trading strategies. It can constantly search the market for patterns and trends and execute profitable trades. Once the bot has been activated, it will trade on a set strategy for as long as needed.

Customizable Features

Thanks to Chain Reaction’s customizable dashboard, it can be used by both beginners and veteran traders.

Newbies can use its plug-and-play features to execute trades or rely on its automated mode to carry out analysis. Veteran traders can create their own indicators and configure the bot to run complex trading strategies.

Cheap Trading

Chain Reaction is an affordable trading tool thanks to its free structure. You can execute and manage several trades simultaneously without paying a commission. You can use the software as you like without paying licensing fees, and use your Chain Reaction account without account management fees.

Finally, Chain Reaction does not take a portion of your profits, unlike many of its competitors.

What is the Best Way to Trade With Chain Reaction?

The best way to trade with Chain Reaction depends on your skill level, trading style, and risk tolerance.

Newbies usually rely more on the bot’s automated mode to carry out analysis and execute trades as most do not yet have a trading style.

If you are a new trader, first familiarize yourself with the bot, trading strategies, and risk management before using the automated mode. This way, you can follow along and monitor the bot’s operations while developing your own trading style.

Intermediate traders use the bot differently from newbies. They have a trading style that they use, or a couple that they shuffle between.

If you are an intermediate trader, you can start with the demo trading account to test the bot’s features so you can get familiar with this particular bot’s capabilities and how well it executes your trading strategies.

After using the demo mode, you may choose to use the automated mode with some tweaks, or use the manual mode with a set strategy. The goal here is to figure out and use the strategy with the highest profit probability.

Veterans use the bot very differently from newbies and even many intermediates. Most veterans do not rely on the automated mode when trading with Chain Reaction, at least not before making major adjustments to it.

The creators of Chain Reaction understand this, which is why they made the bot easy to reconfigure.

If you are a veteran, you can use the demo mode to test your configurations before you begin trading. This way, you know if your advanced strategies work as intended. Next, you can implement your strategies in the live market.

Traders at all skill levels may want to monitor the bot for the first few days after implementing a strategy to ensure it works as intended before adopting a hands-off approach.

Has Chain Reaction Ever Appeared on TV?

Some trading bots appear on shows and television programs, usually in a bid to gain exposure. However, sometimes their appearances are mostly rumours. We dove into several rumours surrounding Chain Reaction’s appearance on various top-tier TV programs.

Dragons’ Den

Dragons’ Den is a British entrepreneurial show that features new and upcoming entrepreneurs who pitch their ideas to a panel of investors in a bid to get funding. The show has featured several technology ventures, however, Chain Reaction has never been one of them.

Shark Tank

Shark Tank is a US version of Dragon’s Den. Like its counterpart, it features entrepreneurs who pitch their businesses to investors. Rumours arose that representatives from Chain Reaction appeared on the show to solicit funding. Our research of the show’s archives showed that the claims are just rumours.

Has Chain Reaction Ever Been Endorsed by a Celebrity?

Claims that Chain Reaction featured on TV shows weren’t the only ones we came across. Rumours that linked Chain Reaction with A-list celebrities and business leaders arose. We researched. Here are our findings.

Elon Musk

Elon Musk has been closely interwoven with the crypto industry, so much so that he was once called “The Dogefather” because of the influence he wielded over the price of the Dogecoin.

While Elon and his company, Tesla, have been involved with crypto, our research did not turn up any links between him and Chain Reaction.

Mark Cuban

Mark Cuban’s name is synonymous with NFTs. He has played an active role in publicizing NFTs by advocating for them on several shows and news programs. He also owns a few crypto ventures like a website that allows users to track their favourite NFTs.

Despite his close connection with crypto, Mark has never endorsed, invested in, or partnered with Chain Reaction.

Bill Gates

The founder of Microsoft, Bill Gates, is not a fan of cryptocurrency. As such, he has not advocated for, invested in, or had any sort of connection with Chain Reaction. The reality is quite the opposite. He publicly speaks against the industry, discrediting the merits of decentralized encrypted networks.

5 Tips for Using Chain Reaction Safely and Managing Risk

Start Small

Always start trading with small amounts, especially when using a new platform. Remember that trading is a marathon, not a sprint, and build your way up to trading larger amounts. Unexpected things happen that surprise even experienced traders, so only trade with money that you can afford to lose.

Learn About Cryptocurrency

If you increase your knowledge of the crypto market, you can make better trading decisions. Trading bots cannot foresee all eventualities, especially events that cannot easily be quantified, like death or incarceration.

In situations where a crypto founder leaves a project or is arrested, the automated trading bot may be unable to forecast how prices will react to the news. You may have to step in and provide guidance. Stay up to date with major events, news reports, and overarching narratives that influence prices.

Document Your Trades

Documenting your trades helps you create a record of your trading style and the thought process behind it. You can always go back to improve on it and become more profitable.

A record also helps you to calculate your crypto tax rates. Countries are catching up with the industry and implementing tax frameworks for crypto traders and investors. Many European countries already have a framework in place for calculating crypto tax.

A record ensures that you pay the appropriate amounts.

Save Profits

Always be quick to secure profits from trading. You can do this in two major ways. First, use a stop loss to secure profits while positions are still open. Even if the market reverses while the trade is open, you would either break even or book a little profit.

Secondly, withdraw some of the profit you book from trades. When you close a successful trade, take out a percentage of the profit, ideally away from the platform, and use it somewhere else.

While trading can be profitable, you don’t want it to be your only source of income. The profit you withdraw can be used to create a financial cushion or to diversify your investments.

Follow Expert Advice

All the best traders have communities of like-minded people who they bounce ideas off. You need one too. Twitter is a great place to start as it houses a vibrant and active crypto community.

However, it could be overwhelming for newbies. The most convenient way would be to get a personal coach. However, if this proves infeasible, you can follow popular newsletters and analysis reports.

Subscribe to legitimate information sources. Influencers are a big red flag as they are often paid to hype projects that may or may not be good investments.

How to Use Chain Reaction: A Step-by-Step Guide

To begin using Chain Reaction:

1. Register for an Account on Chain Reaction

Go to Chain Reaction’s official website and create an account by filling out the sign-up form with your name, email address, and phone number.

2. Complete the Registration Form

You should receive a confirmation link in your inbox. Follow it to verify your new account. You’ll need to complete KYC by submitting a government-issued ID and an official document that clearly displays your name and address. This could be a bank statement or a utility bill.

After verification, choose a broker. Remember to do your research before signing up with any broker.

3. Decide on a Trading Strategy

If you’re a newbie, you can try new strategies. If not, this is where you develop custom strategies.

4. Practice Using the Demo Account

Use the demo account to test your strategy. The demo mode uses real market data, so be sure to be as detailed as you need to.

5. Make a Deposit

Deposit funds into your account to get access to a live trading account. The minimum deposit is $250.

6. Set up Automatic Trading

Once you can access a live account, use the automatic mode to execute the trading strategy you refined in the previous steps.

Chain Reaction Assets, Market, and Options

What Assets Can You Trade Using Chain Reaction?

Chain Reaction supports over 12 cryptocurrencies including major cryptos like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Shiba Inu (SHIB).

Because the bot trades CFDs, you can access over 30 crypto pairs thanks to various crypto-fiat and crypto-crypto combinations. For example, several pairs can be derived from BTC by combining it with fiat currencies e.g., BTC-USD, BTC-GBP, BTC-JPY.

For an example of CFDs in action, say a trader opens a $300 Bitcoin Long position at $19,000 per BTC, i.e., they bet that Bitcoin’s price will rise. If BTC’s price rises to $23,000, the trader makes a $63.15 profit. However, if the price falls to $18,000 per BTC, the trader loses $15.78.

What Leverage Trading Options are Available with Chain Reaction?

Chain Reaction offers up to 1000:1 leverage on CFD trades. This is above acceptable leverage limits in most jurisdictions and is usually a recipe for disaster among inexperienced traders.

Most traders use leverage levels below 100:1 as it is much easier to manage risk at lower levels than higher ones.

What Are the Spreads on Chain Reaction?

CFD spreads on Chain Reaction vary with the pair and market conditions. Hence, there are no fixed spreads in this case. You’ll have to check with the brokers who usually state it on their website.

Can I Use Chain Reaction in My Country?

Final Thoughts on Our Chain Reaction Review

Chain Reaction helps users automatically trade Bitcoin and 11 other major cryptos. The software uses artificial intelligence to carry out statistical and pattern analysis on price action. It then combines both to make profitable forecasts.

The bot is an adequate trading companion as it has an automated mode that abstracts the analysis aspect of trading and executes trade with minimal supervision, is free to use, and can be customised to suit your needs.

Ensure that you use the demo mode first to familiarize yourself with the platform. Also, check out our tips for using the bot safely, so you can maximize your trading.

To begin trading with Chain Reaction, deposit a minimum of $250 into your account through wire transfers, credit card payments, or PayPal.

To open an account, sign up on their registration page and verify your account.

Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our why trust us and how we test pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Chain Reaction review.