This Service Terms is entered into by and between Up way China Bullion Limited (hereinafter referred to as "Upway China" or "the Company") and the Client, and is legally binding.
1.1 "Upway China" refers to Up way China Bullion Limited, its successors and transferors.
1.2 "Client" refers to the party entering into this agreement. If the Client is an individual, it includes the client personally, his/her executors, and administrators of his/her estate.
1.3 "Agreement" refers to the agreement or authorization entered into between the Client and Upway China regarding the opening, maintenance, and operation of accounts (etc.), as amended from time to time, including but not limited to this Service Terms, Privacy Policy, Risk Disclosure Statement, Disclaimer, Client Confirmation, account application form, and related documents.
1.4 "Base margin" refers to the funds deposited by the Client into the trading account primarily as margin for new trading orders. Such margin must be deposited with the trading entity at or before the time a trading instruction is issued and serves as security for all Precious Metals trades.
1.5 "A day" refers to any day on which banks registered in Hong Kong are open for business.
1.6 "Working day" refers to any day other than a public holiday published in the Government Gazette and excludes Saturdays and Sundays.
1.7 "Trading day" refers to a full trading day of the Precious Metals electronic trading market, encompassing the entire cycle from market opening to market close, including all trading activities and settlement processes.
Beijing Time:
Winter Time: 07:00 – before 07:00 of the next day
Summer Time: 06:00 – before 06:00 of the next day
This Agreement shall remain valid and shall cover all accounts opened by the Client with Upway China, regardless of any personnel changes at Upway China or its successors or transferors. In the event of mergers, acquisitions, or other changes, this Agreement (including any authorizations) shall adapt to the interests of Upway China or its successors or transferors and shall be binding upon the Client and the Client’s estate heirs, trustees, administrators, legal representatives, successors, and transferors.
This Agreement shall be deemed accepted by Upway China only upon Upway China’s confirmation and approval of the Client’s account opening application, at which point it shall become a legally binding contract between the Client and Upway China.
When the Client applies for an account through Upway China’s official website or App and checks the box indicating "I have read and agree to the Service Terms, Privacy Policy, Risk Disclosure Statement, Disclaimer and Client Confirmation", the Client shall be deemed to have fully understood, acknowledged, and accepted all terms of this Agreement. Such action shall have the same legal effect as a written signature.
After the account approval, Upway China will no longer mail the Client paper agreements; the Client must personally collect the agreements or request an electronic version.
Upway China only supports the Client personally conducting trading activities and does not support the Client authorizing any other person to operate the trading account on his/her behalf.
All transactions under this Agreement shall be subject to the charters, bylaws, regulations, rules, customs, practices, rulings, and interpretations of the counterparty institutions or other interbank markets (and their clearing organizations, if applicable) executing the trades, and shall comply with all applicable laws of the Hong Kong Special Administrative Region. Should any subsequent enactment of law or any provision adopted by any governmental authority affect or conflict with this Agreement, such provision shall be deemed modified or superseded by the relevant enactment or regulation, and the remaining provisions and the modified provisions shall remain in full force and effect. The Client acknowledges that all transactions under this Agreement are subject to the aforementioned regulatory requirements and that the Client possesses no contractual rights independent of such requirements.
In the occurrence of any of the following events, Upway China reserves the right to take necessary measures:
1. The Client's death, mental incapacity, or legal declaration of incapacity.
2. The Client's application for bankruptcy, appointment of a trustee, or any person’s application to a court for the Client’s bankruptcy, liquidation, or similar legal process.
3. The appointment of any receiver, custodian, or similar officer over any of the Client’s assets, or enforcement of any attachment or judgment.
4. Insufficient margin balance in the Client’s account regardless of the current market price.
5. Failure of the Client to provide any required documentation under this Agreement (eg. Identification documents).
6. Any other situation or change requiring protection measure by Upway China.
Upway China retains absolute discretion to take one or more of the following actions:
1. Retain or control funds or property belonging to the Client to offset the Client's debts owed to Upway China.
2. Buy or sell precious metals orders held in the Client’s account.
3. Cancel any or all uncompleted orders or other commitments made in the Client’s name.
Such actions may be taken without prior notice to the Client or the Client’s personal representatives or heirs. Upway China’s trading activities may be conducted through any interbank or regularly operating market, and Upway China may purchase all or part of the orders without restriction by redemption rights. The Client shall remain liable for all debts in his/her account at all times. If an account is liquidated partially or fully by Upway China or by the Client, the Client remains liable for any remaining debts. Should the proceeds from liquidations under this authorization be insufficient to settle the Client’s debts to Upway China, the Client shall immediately pay the deficiency, all unpaid debts, accrued interests, and all related charges, including attorney fees and witness fees. Upway China reserves the right to pursue legal action.
1. The Client shall understand and agree to Upway China’s margin policies.
2. The Client agrees to bear any forced liquidation losses caused by failure to timely meet the prepayment ratio (net value/used margin) requirements, which may exceed the Client’s initial margin and may consume all funds in the account.
1. The Client may deposit funds into his/her trading account via the top-up methods provided on Upway China’s official website.
2. The Company bear any fees incurred during remittance and transfer processes including bank charges, exchange rate differences, and other related expenses.(limited to legal tender)
3. The Client understands that Upway China requires time to process remittances and transfers, and the trading account may not receive the remittance amount immediately.
4. Unless Upway China verifies and confirms the receipt of the Client’s deposited funds, Upway China is unable to process the deposit for the Client.
5. The Client agrees not to pursue any liability against Upway China for failure to meet deposit requirements promptly, including risks of forced liquidation due to margin ratios falling below company requirements because funds were not added to the trading account promptly, and situations where funds deposited through non personal accounts are rejected.
1. Before the first withdrawal, the Client must submit to the Company color copies of both sides of his/her valid identification card and a color image of their bank card, and successfully complete facial recognition. Otherwise, the Company will not process the Client’s withdrawal request.
2. The Company will bear the remittance fee for single withdrawal requests of USD 50 or above.
3. For single withdrawal requests under USD 50, a remittance fee of USD 3 will be charged.
4. If the Client’s trading volume after deposit is less than 50% of the deposit amount, a withdrawal fee equal to 6% of the deposited amount will be deducted. If the trading volume meets the requirement, regular members are entitled to 3 free withdrawals per day, and VIP members 5 free withdrawals per day; withdrawals exceeding these limits will incur a fee of 6% per withdrawal amount.
5. If the Client applies for withdrawal without trading after deposit, fees may apply, and any bonuses received may be deducted.
6. Clients who make an initial deposit and apply for withdrawal without trading will, in addition to fees and bonus deductions, be subject to process review and must sign an agreement before withdrawal.
7. Once the withdrawal request is approved, withdrawals over USD 100 generally arrive within 24 hours; withdrawals under USD 100 are expected to arrive within 3 days. The time for withdrawal to be credited is not guaranteed and may take longer.Actual timing depends.
8. Due to third-party factors, the withdrawal processing speed is beyond the Company’s control and prediction. Therefore, Clients may not receive funds within 24 hours.
9. The Client has the right to notify Upway China at any time to withdraw specified margin balances. The Client understands the Company requires time to process withdrawal requests, and funds may not be immediately credited. The Client agrees not to hold Upway China liable for delays in fulfilling withdrawal requests.
10. Upon confirmation of the Client’s withdrawal request, Upway China will immediately deduct the amount from the Client’s account. The Client must ensure the designated bank account is under his/her own name; Upway China does not accept deposits or withdrawals to/from bank accounts not held in the Client’s name.
Wallet is a secure and convenient fund management system provided by Upway China for its clients.
1. The Client may deposit funds into the Wallet and transfer these funds between it and his/her MT4/MT5 trading accounts.
2. While withdrawals must be requested through the wallet.
3. Fund Transfers and Margin Management:To prevent the margin ratio of trading accounts from becoming insufficient due to fund transfers during the weekend market closure, which could affect the ability to respond promptly to extreme market conditions immediately upon the opening of the next trading day, and to ensure the fairness and stability of the trading market, the company’s risk-control system will periodically assess the margin status of customers’ trading accounts during the weekend. For any account that triggers the risk-control mechanism, a fund transfer lock period will apply from 30 minutes before the weekend market closes until 30 minutes after the market reopens. During the lock period, the funds in the trading account will be strictly protected and monitored by the system. Once 30 minutes have elapsed after the market opens on the next regular trading day, fund transfers in the trading account will resume as normal.
1. Upway China provides transaction codes which the Client may enable or disable in the account user center at his/her discretion. Please note that this feature must be activated in advance; it cannot be provided if not activated.
2. Upway China offers transaction codes for opening positions free of charge. Closing position transaction codes are charged at a rate of USD 0.5 per lot.
3. Transaction codes for opening/closing positions and the Client’s order numbers are unique and non-duplicative.
4. Upway China shall have the absolute rights and discretion whether to provide the transaction code to the Client even if the Client has activated the feature beforehand,but in such case, Upway China shall not charge the Client any fee(s) as prescribed from time to time for providing such transaction code.
Reports, statements, notifications, and other communications may be delivered to the Client via the email address provided at the time of account application or any updated email address provided to Upway China through the online login system. Regardless of the medium of delivery (email or otherwise), once the sending system logs the delivery, such communications shall be deemed sent by Upway China and received by the Client, whether or not the Client actually receives them.
If the Client’s email address changes, the Client is responsible for promptly notifying Upway China of the change.
The Client agrees that their account information and transaction confirmation may be provided via the Upway China platform, and the Client may access their account details through the Upway China platform or their online personal account.
The Agreement shall remain effective until the trading account is terminated.
The Client may terminate the Agreement at any time, provided that at the time of termination, no open spot precious metals trading orders are held and there are no outstanding debts to Upway China.
The Client may submit an account closure request via the Upway App or submit a written application as required.
Upway China may terminate the Agreement at any time, including by written notice, email, SMS, or App message notification to the Client.
Termination of the Agreement shall not affect prior transactions nor relieve either party of any obligations or the Client’s debt liabilities under this Agreement.
MT4/MT5 trading accounts that meet both of the following conditions will be subject to an account management fee. The system will automatically deduct USD 5 every 60 days as the account management fee until the account balance is depleted.
1. The trading account has not logged in and accessed the trading page via the trading platform (including the desktop portal, Upway App, Upway HD or MT4/MT5 client etc.) for more than 60 consecutive days. (Logging in to the official website or member center for inquiry purposes only does not qualify as a valid login.)
2. The trading account still has a positive balance.
Trading accounts shall be forcibly closed under the following circumstances：
1. If the Client’s trading account remains inactive for over 60 days with a zero balance, the system will retain the account for an additional 30 days. After this period, the account will be permanently deleted.
2. If the Client fails to pass Upway China's KYC verification, identity verification, risk assessment, or AML (Anti-Money Laundering) procedures, Upway China will directly prohibit the use of that account,and enforce account closure without prior notice.the deduction of all promotional bonuses and spread rebates upon account closure and withdrawal.
3. All transactions with Upway China must be conducted through the Client's designated trading account. Upway China does not permit the Client to open multiple user accounts using different identification documents. Customers must guarantee the authenticity of all provided information. Should multiple user accounts and associated trading accounts be found belonging to the same individual, Upway China reserves the right to freeze funds in related user accounts, lock trading functions, and enforce account closure without prior notice. User accounts must be properly safeguarded and operated by the account holder themselves.
Upway China may revise this Agreement from time to time in accordance with business and regulatory requirements. All amendments will be updated directly on the official website(www.jrjr.com) and the Upway App and shall take immediate effect upon publication. Clients will be notified via App push,email,or other appropriate means. Continued use of the services shall constitute full acknowledgment, understanding, and acceptance of the revised terms.
1. Any market information provided by Upway China or its employees does not constitute investment advice.
2. Such information, although based on sources considered reliable by Upway China, may be entirely based on the personal views of certain employees, and thus may be incomplete or unverified.
3. Upway China makes no guarantee as to the accuracy or completeness of any information provided to the Client and assumes no liability for it.
The Client confirms that no unilateral agreements have been made with any employee, agent broker, or third party of Upway China regarding trading in their account, including but not limited to any guarantees of account profit or limitation of loss.
Upway China shall not be liable for any delays in order transmission caused by transmission or communication system failures, power outages, or other causes beyond its control or anticipation. Upway China is only responsible for direct losses caused by its intentional fault or fraudulent acts, and shall not be liable for losses caused by the fault of other parties.
The Client agrees that if any debt, loss, damage, cost, or expense (including attorney’s fees) arises to Upway China due to the Client’s failure to fully and timely perform commitments or due to false statements or warranties, the Client shall be fully liable for indemnification and shall hold Upway China harmless. The Client also agrees to immediately pay Upway China for any damages, costs, and expenses (including attorney’s fees) incurred by Upway China in performing this Agreement or other agreements signed with the Client.
Furthermore, Upway China shall not be liable for losses arising from:
1. Client’s actions: his/her actions, errors, or omissions;
2. Forged signatures: forged or unauthorized signatures on the account or related documents;
3. Failures: system failures, equipment failures, or service interruptions of the Client or Upway China;
4. Delays: delays, faults, or errors by Upway China in executing the Client’s instructions;
5. Information: incorrect or incomplete instructions provided by the Client.
The Client authorizes Upway China or its employees, on behalf of Upway China, to investigate the Client’s credit status and to verify and confirm all banks, financial institutions, and credit agencies related to the Client’s information. The Client further authorizes Upway China to investigate his/her current and past investment activities. Additionally, based on the Client’s credit status, Upway China has the right to request the Client to provide necessary supporting documents (including but not limited to recent tax returns and income certificates) for the purpose of periodically reviewing the Client’s trading limits or approving applications to increase trading limits.
No provision of this Agreement may be waived or unilaterally amended by the Client unless such waiver or amendment is made in writing and signed by both the Client and an authorized representative of Upway China. Failure by Upway China to enforce any rights under this Agreement in the course of dealings, or in any circumstances, shall not be construed as a waiver of such rights. No oral agreements or instructions shall be recognized or enforceable.
Upway China is committed to preventing any money laundering activities using its services and complies with relevant regulatory requirements through the following measures:
1. Identification of client identity;
2. Identification, monitoring, and reporting of any suspicious transactions;
3. The Company reserves the right to collect and verify the Client’s identity documents prior to account opening and any payment of proceeds.
4. The Company reserves the right to refuse to process any transaction at any stage if it believes the funds are associated with criminal activities or money laundering.
5. The Company has an obligation to report all suspicious transactions and is prohibited from notifying the Client that their account activities have been reported. Abuse of accounts may lead to criminal prosecution.
6. If the Client’s funds originate from criminal activities or if the account transaction nature involves any illegal behavior, the Company will refuse to provide related services.
7. The Company reserves the right to review and/or amend its Anti-money Laundering Policy at any time at its sole discretion.
This "Anti-money Laundering Policy" is a policy statement only, does not constitute part of the "Commercial Terms and Conditions", is not legally binding, and does not attempt to impose any obligations beyond those required by current anti-money laundering and counter-terrorism financing laws and regulations. Relevant laws and regulations may change or be revised at any time.
1. Any judicial, administrative actions or legal proceedings directly or indirectly arising from or related to this Agreement or the transactions contemplated herein, including but not limited to arbitration conducted by self-regulatory or other private organizations (whether initiated by the Client or Upway China), shall be conducted solely at the sole discretion of Upway China within the Hong Kong Special Administrative Region. The Client agrees to waive and relinquish any and all objections to such jurisdiction and further agrees to waive any rights to transfer or change the venue of such actions or legal proceedings under this Agreement;
2. The Client agrees and accepts that any direct or indirect actions or legal proceedings arising from or related to this Agreement or the transactions contemplated herein (whether initiated by the Client or Upway China) shall be subject to the jurisdiction of the courts within the Hong Kong Special Administrative Region.
This Agreement constitutes the entire understanding between the parties regarding OTC precious metals trading, superseding all prior oral or written agreements. The terms of this Agreement shall prevail over any ancillary documents such as account opening application forms.
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