Upway

Upway, operating under the brand 金荣中国 (Jinrong China), is a Hong Kong-based broker established in 2017 (though its website claims a 16-year history starting from 2003). The company provides online trading services focused on precious metals, specifically spot gold and silver CFDs. As a regulated member of the Hong Kong Gold Exchange (HKGX), it markets itself as a secure and professional platform. The broker has a limited social media presence across Facebook, Instagram, LinkedIn, and YouTube.

The registered office address is in Tsuen Wan, New Territories, Hong Kong, the same address listed in the company's contact page. FXCanary's independent research assigns a risk score of 38 out of 100, indicating a guarded level of risk. This score reflects the broker's limited regulatory scope and the fact that it is not licensed for foreign exchange trading.

Upway holds regulation from the Hong Kong Gold Exchange (HKGX) as a precious metals trading entity with AGN status. According to the HKGX register, the broker is listed as a 'Regulated' entity in Hong Kong. However, this regulation applies only to precious metals trading activities, not to forex or other financial instruments. The broker's website prominently displays its HKGX membership and AA class designation.

It is important to note that HKGX is a self-regulatory organization for the precious metals industry in Hong Kong, not a government-backed financial regulator akin to the SFC. This distinction means that the level of investor protection may differ from that of fully licensed forex brokers. The broker's marketing materials emphasize its adherence to local laws and industry standards.

The broker provides a tiered account structure ranging from a Standard account to several VIP levels. The Standard account requires a minimum deposit of $70 and offers standard spreads. VIP accounts are designed for higher-volume traders and come with reduced spreads, cash rebates, and various perks such as birthday gifts, priority withdrawal, and dedicated support. According to the website, all accounts have no commissions and support negative balance protection.

The table on the account page details ten account types (Standard and VIP 0–8), each with specific requirements and benefits. For example, VIP 3 and above receive monthly cash subsidies and higher black gold rebates. The brokerage also promotes a 'new user 150% super bonus' for initial deposits.

The broker offers MetaTrader 5 (MT5) and its proprietary CTOTrader. MT5 is a widely recognized multi-asset platform, providing advanced charting, automated trading via Expert Advisors (EAs), and market depth. CTOTrader is described as a high-performance system with direct market access to London for precious metals. The broker also provides a mobile app branded as 'Jinrong China' for trading on the go.

Instruments are limited to spot gold and silver CFDs. The website indicates that the broker does not provide forex currency pairs, indices, or commodities beyond precious metals. This focus may appeal to traders specializing in gold and silver markets.

The broker supports multiple funding methods through its proprietary wallet system. Deposits are processed instantly with no fees, and the minimum deposit is $70. Withdrawals are free of charge if conditions are met, with an average processing time of one business day. The wallet system claims to segregate client funds and uses encryption and AML controls.

The website lists 23 deposit channels, including international bank cards and a 'renminbi fast channel.' Withdrawals are subject to KYC verification. The broker also highlights its VIP withdrawal priority feature for higher-tier clients.

The broker's services are aimed at individual retail investors interested in precious metals trading. The website emphasizes that it is not available to residents of the United States, Belgium, or Canada. This restriction is likely due to differing regulatory requirements in those jurisdictions.

The company operates in Chinese language primarily, targeting Chinese-speaking traders globally. Its marketing focuses on security, transparency, and technology. With no forex products, it is a specialist precious metals CFD provider.