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I'm not familiar with the Squire Vulcan lock but I can confirm that it is not approved by Sold Secure:
https://www.soldsecure.com/search?name=Vulcan&action=The cheapest padlock that we do from Squire that is approved by Sold Secure is the SS50-P5 open shackle lock, and that's about the same price as the one you mentioned:
https://www.soldsecure.com/search///ss50-p5-padlock.htmlOpen Shackle locks are not as tough as closed shackle, but they are lighter and cheaper. However, we would only recommend that lock with our lightest, 11mm chain, and that is not tough enough to be on the 'Locks that Work' list. We do offer all of our chains in Package Deals with locks that are approved.
This all comes down to how much weight you want to carry, how much you want to spend, and what security level you are after. We are happy to give advice via e-mail if you like?
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Pragma
There doesn't seem to be a list of approved padlocks for use with a chain.
Is this padlock any good?
https://www.toolstation.com/shop/Security/d200/Padlocks/sd2540/Squire+Vulcan+P4+50+Padlock/p72140