Limit Order
A set limit order permits you to set the minimum or maximum price where you want to buy or sell currency. This lets you make the most of rate fluctuations beyond trading hours and delay on your desired rate.
Limit Orders are best for clients who have an upcoming payment to create but who still have time for it to gain a better exchange rate compared to current spot price ahead of the payment should be settled.
N.B. when locating a difference between buy limit and buy stop in forex there is a contractual obligation so that you can honour the agreement as able to book with the rate which you have specified.
Stop Order
A stop order enables you to manage a ‘worst case scenario’ and protect your net profit when the market was to move against you. It is possible to set up a limit order that’ll be automatically triggered if the market breaches your stop price and Indigo will purchase your currency at this price to successfully tend not to encounter a good worse exchange rate when you require to produce your payment.
The stop permits you to reap the benefits of your extended period of time to purchase the currency hopefully at a higher rate but additionally protect you if your market would have been to oppose you.
N.B. when putting a Stop order there’s a contractual obligation for you to honour the agreement when we’re capable of book the pace at the stop order price.
More info about what is limit order to buy check this popular web site: here