Limit Order
A limit order enables you to set the minimum or maximum price where you desire to purchase or sell currency. This lets you take advantage of rate fluctuations beyond trading hours and hold out on your desired rate.
Limit Orders are ideal for clients who have an upcoming payment to create but who still need time and energy to achieve a better exchange rate compared to current spot price prior to the payment should be settled.
N.B. when locating a stop order example there exists a contractual obligation that you should honour the agreement if we are capable to book with the rate you have specified.
Stop Order
An end order permits you to run a ‘worst case scenario’ and protect your main point here in the event the market was to move against you. It is possible to set up a limit order that’ll be automatically triggered in the event the market breaches your stop price and Indigo will get your currency with this price to successfully usually do not encounter a much worse exchange rate if you want to make your payment.
The stop enables you to make the most of your extended time frame to buy the currency hopefully with a higher rate but also protect you in the event the market would have been to opposed to you.
N.B. when putting a Stop order there is a contractual obligation so that you can honour the agreement as in a position to book the interest rate at the stop order price.
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