GMO Click Securities' "Click 365" Only Rules: “Canceling Take-Profit Orders, Expiry Processing” Make No Sense Too Much!

Previous column【Click 365 automatically canceled orders → New limit orders are OK, but profit-taking limit orders are not?】←Please click and read carefully before reading today's content.

Summary: For FX limit orders on GMO Click Securities' Click 365, even though the order stayed within the order acceptance width, the order expired when the market opened on the following Monday. The reason for expiration was explained as “the acceptable price range for the order entry is plus/minus 3 yen for the Swiss franc/yen pair” → because the limit price was outside this range, it expired. However, in reality, if the order is only for placing new sell orders for hedging, even if it is more than 3 yen away (no matter how far the rate is), it is not canceled. But if you add an accompanying IFD order for a profit-taking buy, then if it is more than 3 yen away, it will be canceled.

I don’t understand why this happens, so I challenged how absurd the rule is.


That rule is completely nonsensical.

It says, “An order that specifies conditions unfavorable to the customer”
is an order where profit-taking buy 107.88 becomes valid only after a new sell 109.88 is executed.
If an IFD order for the initial selling 109.88 is not executed, then a DONE order being executed would indeed be disadvantageous to the customer. However, since the new selling 109.88 order cannot be executed, the profit-taking buy 107.88 order is not valid. There is no customer disadvantage here. It only deprives the customer of potential profit.

In the first place, if you do not attach the profit-taking buy 107.88, the new sell 109.88 order does not expire, right?
Even now, limit sell orders at 109.33 or 111.30 remain uncanceled, but if this were an IFD with a profit-taking buy at 108 or 109, then they would have expired for being more than 3 yen away, right? If the profit-taking order is reached, it would always be profitable, so having that profit order makes customers lose?

Such rules only hinder customers, right?
Seriously, why would you set such a stupid rule?

■ Click 365 trading rules
https://www.click-sec.com/corp/guide/c365/rule/
These rules are only for Click Securities, right? Please abolish such absurd rules immediately.

I truly do not understand them, so please improve promptly.

◆◆ Very easy-to-understand explanation ◆◆ Assume CHF is 104 yen

CHF orders expire if the rate is more than 3 yen away from the current rate.

…But a “limit sell at 110 yen” order is more than 3 yen away from the current 104 yen rate, yet it does not expire.

However, if you add a profit-taking buy at 108 yen to the “limit sell at 110 yen,” the 108 yen profit-taking buy is more than 3 yen away from 104 yen, so the order expires.

Why is a 110 yen limit sell that is more than 3 yen away OK, but adding a profit-taking limit makes the order expire?What part of that is customer protection? It only reduces chances of making a profit!! …That’s what I argued.


In response to this,


The rules introduced this time are our company’s defined trading rules.

We regret to say that at present, regardless of whether the new order is executed, in an IFD order the rate for new and settlement orders that exceeds the acceptable range will expire when it goes beyond the acceptable width.

Considering the timing of orders placed on the exchange and other circumstances, this is the rule and specification defined by our company. However, we take your feedback seriously and will consider it for future improvements.


I think this terrible specification should be fixed immediately, but they don’t seem inclined to do so.
Is the consolation that “these are our company’s own trading rules”?
Other companies do not have such nonsensical specifications

Writer:Nemugon
Delivering the truth! “Former financial institution FX blog” is operated as a comprehensive FX information verification site. I have 9 years of FX experience and trade Nikkei 225, gold, crude oil, etc.
Blog:Delivering the truth! ‘Former financial institution FX blog’

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