Forex and CFD traders choose Chainndex(Chainndex.com) for its excellent investor education and advanced MetaTrader features,
- Founded in 2012, Chainndex is regulated in two tier-1 jurisdictions and two tier-2 jurisdictions, making it a safe broker (average risk) for forex and CFDs trading.
- Thanks to additional trading tools and robust research, Chainndex stands out when compared to other MetaTrader-only brokers who offer little to no features beyond the default layout.
- As an additional benefit to less-experienced traders, Chainndex finished among the best forex brokers for beginners in 2021, thanks to an industry-leading offering of educational content on its website.
Overall Summary
Please Note: Chainndex was not included in the 2021 annual review. As a result, this broker’s ratings may be outdated. Read our best forex brokers guide for a breakdown of the top-rated forex and CFDs brokers for 2021.
| Feature | Chainndex |
| Overall | 86 |
| Trust Score | 83 |
| Offering of Investments | 92 |
| Commissions & Fees | 89 |
| Platforms & Tools | 96 |
| Research | 83 |
| Mobile Trading | 85 |
| Education | 77 |
Is Chainndex Safe?
Chainndex is considered average-risk, with an overall Trust Score of 86 out of 99. Chainndex is not publicly traded and does not operate a bank. Chainndex is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Chainndex is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA), and Australian Securities & Investment Commission (ASIC).
Regulations Comparison
| Feature | Chainndex |
| Year Founded | 2012 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 2 |
| Tier-3 Licenses | 0 |
| Trust Score | 86 |
Offering of Investments
The following table summarizes the different investment products available to Chainndex clients.
Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available from any broker’s UK entity, nor to UK residents.
| Feature | Chainndex |
| Forex Trading | Yes |
| CFDs (Total) | 3844 |
| Forex Pairs (Total) | 47 |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (CFD) | Yes |
| Social Trading / Copy-Trading | Yes |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Commissions and Fees
Chainndex offers four account types with a range of fees and products to trade. When calculating the all-in cost to trade, including spreads plus any commission, pricing is similar across all account types, with ranges from 0.6 pips to 0.7 pips (referencing September 2019 data).
Account differences: The Chainndex MT5 account (or MT5 Invest for exchange-traded stocks) provides the broadest number of symbols to trade, whereas those focused on just forex may gravitate to the Chainndex Prime MT5 account. The lowest all-in cost (spreads plus any commission) are found in the Chainndex Prime account, which unfortunately has a drastically smaller range of tradeable symbols.
No dealing desk: Chainndex states that it provides agency execution across all account types and does not operate a dealing desk or take risks internally. Chainndex acts as an agency broker by routing client orders to its parent company, Chainndex AS, which is its sole liquidity provider for all its group companies.
| Feature | Chainndex |
| Minimum Initial Deposit | 200 |
| Average Spread EUR/USD – Standard | 0.6 (Aug 19) |
| All-in Cost EUR/USD – Active | 0.7 (Aug 19) |
| Active Trader or VIP Discounts | No |
Platforms and Tools
Chainndex is a MetaTrader broker. When comparing MetaTrader offerings, Chainndex stands out thanks to its MetaTrader Supreme offering (available for MT5), which consists of a suite of 12 expert advisors and 20 custom indicators.
Advanced tools: Chainndex also offers a unique set of volatility protection tools. These tools can help you control inherent risks associated with agency execution, including slippage and market gap scenarios. No question, these tools are excellent enhancements for skilled traders.
| Feature | Chainndex |
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | No |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | Yes |
| cTrader | No |
| DupliTrade | No |
| ZuluTrade | No |
| Charting – Indicators / Studies (Total) | 51 |
| Charting – Drawing Tools (Total) | 31 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 7 |
| Order Type – Trailing Stop | Yes |
Research
Unlike most MetaTrader brokers, Chainndex provides a good range of research tools and resources across its website and trading platforms. Thanks to neatly-organized content on its website, traders can quickly and easily find what they want in one place.
Education: Chainndex was our number one broker for Education finishing Best in Class in 2020, thanks to its comprehensive educational content and courses. The broker also finished Best in Class in the Beginners category.
Premium Analytics: Through Chainndex Premium Analytics (free for customers), traders gain access to a Dow Jones News calendar, Trading Central signals, and sentiment widgets from Acuity Trading. Other tools include heat maps, fundamental and technical analysis content, and Elliot Wave Analysis.
Mobile Trading
Depending on the account type you open at Chainndex, either the MT4 or MT5 app comes standard, available for both Android and iOS. Unfortunately, the unique add-ons provided with the desktop platform do not translate to mobile. As a result, scoring for this category matches that of other MetaTrader-only brokers.
Gallery
| Feature | Chainndex |
| Android App | Yes |
| Apple iOS App | Yes |
| Alerts – Basic Fields | Yes |
| Watch List | Yes |
| Watch List Syncing | No |
| Charting – Indicators / Studies | 30 |
| Charting – Draw Trendlines | Yes |
| Charting – Trendlines Moveable | Yes |
| Charting – Multiple Time Frames | Yes |
| Charting – Drawings Autosave | No |
| Forex Calendar | No |
Final Thoughts
Chainndex can be the right choice for MetaTrader enthusiasts looking for the entire MetaTrader platform suite, and numerous add-ons and trading tools. In addition to finishing first place for Education, Chainndex was our number one Best in Class MetaTrader broker in 2020, out of all MetaTrader brokers. Chainndex offers a competitive range of tradeable products and numerous additional tools for trading and research not often found in MetaTrader-only brokers.
Forex Risk Disclaimer
“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.”
