Limit Order
A limit order enables you to set the minimum or maximum price where you would like to sell or buy currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and wait for the desired rate.
Limit Orders are perfect for clients who may have an upcoming payment to produce but who have time for it to acquire a better exchange rate compared to current spot price ahead of the payment needs to be settled.
N.B. when placing stop limit buy order there exists a contractual obligation that you can honour the agreement when we’re able to book in the rate which you have specified.
Stop Order
A stop order lets you manage a ‘worst case scenario’ and protect your net profit in the event the market ended up being move against you. You can set up a limit order that will be automatically triggered if the market breaches your stop price and Indigo will purchase your currency only at that price to ensure that you do not encounter an even worse exchange rate when you really need to create your payment.
The stop allows you to benefit from your extended time period to purchase the currency hopefully in a higher rate but in addition protect you when the market ended up being go against you.
N.B. when locating a Stop order there’s a contractual obligation so that you can honour the agreement if we are capable of book the speed your stop order price.
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