Upway Review 2025: Is This Forex Broker Safe?

Upway (also known as JRJR or 金荣中国) is a regulated Upway broker headquartered in Hong Kong. Established in 2017, it has garnered a decent WikiFX Score of 7.29, indicating a relatively established presence in the Asian financial markets.

The broker primarily serves clients in China, Hong Kong, and Malaysia, operating under the oversight of the Hong Kong Gold Exchange (HKGX). While its regulatory status contributes to its credibility, a recent surge in user complaints regarding trading conditions and withdrawals warrants a closer inspection for potential investors.

Pros and Cons of Upway

• ✅ Regulated Entity: Holds a valid license from the Hong Kong HKGX (No. 084).
• ✅ Platform Choice: Supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
• ✅ Established History: Operating since 2017 with significant market influence in Asia.
• ❌ High Complaint Volume: Over 143 complaints reported within a 3-month period.
• ❌ Withdrawal Issues: Multiple users report difficulties accessing their funds.
• ❌ Platform Stablity: Reports of severe slippage and system lags during volatility.

Upway Regulation and License Safety

The safety of client funds is largely determined by regulatory oversight. Upway operates under a specific license in Hong Kong.

Hong Kong HKGX License

Upway is regulated by the Hong Kong Gold Exchange (HKGX), holding license number 084. The entity name listed is “金榮中國金融業有限公司”.

• License Type: “监管中” (Regulated).
• Scope: This license typically oversees the trading of bullion and precious metals in Hong Kong.

Analysis: While Upway holds a valid license, which boosts its WikiFX score to 7.29, the regulatory framework of the Gold Exchange is different from a standard securities regulator like the SFC. Traders should be aware that while the firm is legal, the high volume of disputes suggests that regulation alone may not guarantee a seamless trading experience.

Real User Feedback and Complaints

The discrepancy between Upway's regulatory score and user experience is highlighted by the significant number of complaints. Issues range from withdrawal denials to trade manipulation claims.

Common Issues Reported

• Slippage and Liquidation: Users have provided screenshots showing severe slippage where orders were closed at prices that allegedly did not exist on the market (Case 5, Case 6).
• Account Access: Several traders have mentioned that their accounts were frozen or banned after profitable trades (Case 16, Case 19).
• Login Problems: Users have explicitly reported difficulties with the Upway login process, citing system errors and inability to access the platform to close positions during market volatility (Case 14, Case 26).

Evidence:

One user reported, “System froze directly... unable to place orders,” while another stated, “Cannot login, app crashes immediately.”

Upway Forex Trading Conditions and Fees

Upway provides standard tools for trading, focusing heavily on precious metals given its HKGX license.

Platforms

Traders can use MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are industry standards, known for their charting capabilities and “Expert Advisor” (EA) compatibility, although the data indicates Upway may restrict EA usage (“allowEATransaction”: false).

Trading Assets

The broker focuses on gold and silver trading. It does not appear to support cryptocurrency trading.

Leverage and Spreads

Detailed leverage caps were not specified in the provided data, but users have complained about spread widening (Case 20), which can impact profitability during news events.

Final Verdict

Upway (JRJR) presents a mixed picture. On paper, it is a legitimate, regulated broker with a solid WikiFX Score of 7.29 and support for top-tier trading platforms like MT5. However, the alarming number of complaints—exceeding 140 in just three months—regarding blocked withdrawals and system instability is a significant red flag.

Traders should exercise extreme caution. While the regulation exists, the operational risks highlighted by user feedback are substantial.

To stay safe and view the latest regulatory certificates, check Upway on the WikiFX App.