Limit Order
A restriction order allows you to set the minimum or maximum price where you desire to sell or buy currency. This enables you to take advantage of rate fluctuations beyond trading hours and delay to your desired rate.
Limit Orders are perfect for clients who have a future payment to produce but who still have time to have a better exchange rate compared to the current spot price prior to the payment must be settled.
N.B. when locating a difference between market and limit order you will find there’s contractual obligation for you to honour the agreement when we’re in a position to book on the rate which you have specified.
Stop Order
An end order enables you to manage a ‘worst case scenario’ and protect your important thing in the event the market ended up being to move against you. It is possible to create a limit order which will be automatically triggered when the market breaches your stop price and Indigo will get your currency with this price to actually tend not to encounter a level worse exchange rate if you want to make your payment.
The stop allows you to take advantage of your extended time frame to acquire the currency hopefully with a higher rate but in addition protect you in the event the market ended up being to go against you.
N.B. when placing Stop order there’s a contractual obligation that you should honour the agreement as capable to book the interest rate at the stop order price.
For more info about difference between stop loss and limit order go to this webpage: here