Chain Reaction Scam
Find out why you should not use this trading software 【2022】
Name: Chain Reaction
Description: Find out why you should not use this trading software 【2022】
Platform Price: 0.0
Platform Category: Trading Platform
Author: Jeffrey Taylor
Chain Reaction is one such platform. Investors can only protect themselves from these scam brokerage firms by knowing what they are looking for in a trading bot. Here’s a detailed review of Chain Reaction.
- User-friendly software interface
- Hassle-free registration process
- Available globally
- Fake promises
- No thorough verification process
- Lockouts from the trading account
- No withdrawal of money
- Scam trading bot
- Huge Commissions
- No demo account
Many people have shown interest in investing in cryptocurrency and are looking for ways they can learn how to trade online. This has led to a surge of trading bots and brokerage platforms that help investors be in a position to see the bigger picture of trade. In as much as there are genuine trading bots offering strategies for trade, there are a few scrumptious trading brokerage platforms out here wanting to reap investors their hard-earned money.
What Is Chain Reaction?
At first glance, Chain Reaction appears to be a legit trading bot for which traders and investors can fall easily. In reality, it is not. The platform has a user interface that allows traders to navigate through the platform. Once users register with Chain Reaction, they’ll start receiving trading strategies and recommendations on the best trades.
It guarantees 100% accuracy outcomes, which is a bit absurd as one is never sure how transactions can go in the world of Crypto. Here’s a more in-depth analysis of its features.
To register and access a Chain Reaction account, a user must follow the following steps:
Create a Chain Reaction
The process is simple and hassle-free. A user must fill out the details required: the name, email address, and phone number.
Explore and Trade
After the registration, a user is good to go with Chain Reaction. They can access their Chain Reaction account and start exploring the account to gain a better overview of the platform.
A trader must deposit a minimum threshold for them to start trading. Chain Reaction will encourage users to invest big as it is sure of getting a trader’s money back. This is undoubtedly a red flag. Additionally, the platform does not have a demo account.
Demo accounts are replica accounts of live trading where users can practice trading using paper money. A replica account helps traders to see the bigger trading pictures and how to make transactions quickly. The absence of a demo account means traders on Chain Reaction enter live trading rusty and can easily make a mistake that can cause dire losses.
Chain Reaction Withdrawal Process
There’s no withdrawal of money on here. Once a trader makes a substantial amount of money and wants to withdraw, the Chain Reaction will come up with tons of excuses. The process will drag along until a trader gives up.
In some cases, if a trader is persistent in getting their money back, the trading bot may lock them out of their trading account. This means they’ll have no access to the account, which further implies no access to their funds – a major reason why traders should not invest in the Chain Reaction scam.
Is Chain Reaction a Scam?
Yes! It is. There are things that a legitimate trading bot won’t do. Knowing them will help you to distinguish them from scammers. Here are some tell signs indicating Chain Reaction is a scam:
The Chain Reaction promises users that they’ll make tons of profits trading on the platform right from the jump. This is not true because online trades are not guaranteed, as there’s always room for potential risks. The platform is not straightforward with this factor; it probably wants to entice unsuspecting investors with fake promises so that they can put their money on Chain Reaction.
Lockouts from Your Account and Huge Commissions
Once a trader invests with Chain Reaction, they cannot withdraw their earnings from the platform as they get locked out of their account for no apparent reason. This is done to ensure investors don’t get their money back. Plus, there is no way of getting hold of them outside the platform. Once an investor is out, they go on to count their losses.
Furthermore, Chain Reaction has not reiterated anywhere in the platform that there are some commissions it charges for profits earned on the platform. When a trader makes a profit, the platform quickly charges hefty commissions on the profit leaving the trader with basically their deposit, to say the least.
Such outcomes blindside the trader because they didn’t know from the start that there were such fees in place, plus they don’t know how the commissions were derived at. One can feel they’re being cheated out of their money. In a sense, any reliable trading bot will be upfront about the commissions and fees on the platform.
A legit trading partner has tons of information online about its background and the platform’s owners. This, however, is not the case with Chain Reaction. There’s zero information about how the trading platform started and who started it – a huge red flag why users should avoid this Chain Reaction scam.
Moreover, there’s no welcoming emailing once a trader signs up with the account, plus no live trading option. A user is alone in their trading journey, especially during emergencies. There’s no way of reaching out to people behind the trading bot for help. Furthermore, Chain Reaction has no email address.
The Chain Reaction trading platform wants details of your bank accounts and other information, but it cannot avail its information with something as simple as an email address. This is a huge red flag, and any trader thinking of signing up with the trading bot should abort the mission. A trustworthy trading bot or brokerage account has outlined information that users can get online about how it started and its owners.
Protecting Oneself from the Chain Reaction Scam
Do not sign up. Before settling for any trading bot in the crypto market, traders are advised to do their due diligence and conduct extensive research. Chain Reaction is among the few weeds in the cryptocurrency world, and it shouldn’t stop one from finding a reliable brokerage account for trade.
Moreover, various legitimate trading accounts can help traders improve their investing skills. The best way traders can protect themselves from this scammer trading platform is by avoiding the app. If traders are already signed to it, they should start counting their losses because their money is long gone.
Verification upon Registration
It’s important to keep in mind that any reliable trading bot or brokerage account will try to identify its users based on KYC. This is done to ensure users give out correct information and determine who they say they are. The verification is very thorough, with some trading brokerage accounts going a step further and asking their users for their ID document copy with a clear picture.
Moreover, the trading bot will send a confirmation email to the user’s email to cross-check whether or not the information given out is correct. This is how a reliable trading brokerage account will carry itself.
Chain Reaction, on the other hand, misses all the fundamental processes and verification processes that make a trading bot safe and reliable.
After taking a closer look at Chain Reaction and how it operates, one can say without a doubt that this is a scam trading platform. The platform is not regulated by any online entities that uphold online policies regarding internet security. Therefore, it’s quite hard to trust Chain Reaction fully.
Moreover, Chain Reaction scam trading bot promises traders that they’ll make profits as soon as they start trading, without highlighting that online trade is a gamble. Traders are also likely to make losses if they’re not in a better place to see the bigger picture of the trading market. Furthermore, there is no evidence to back up Chain Reaction high-profit claims.
Therefore, traders should be skeptical and never think of signing up with Chain Reaction. It’s very important to always think of the cryptocurrency market as volatile. Traders can never be too sure of what is going to happen next. It’s prudent for traders to make their assumptions after proper research has been done.