Limit Order
A limit order lets you set the minimum or maximum price from which you would like to purchase or sell currency. This allows you to take advantage of rate fluctuations beyond trading hours and hold out to your desired rate.
Limit Orders are fantastic for clients who’ve another payment to make but who still need time for it to acquire a better exchange rate compared to current spot price before the payment needs to be settled.
N.B. when placing a stop limit vs stop there exists a contractual obligation so that you can honour the agreement when we’re in a position to book at the rate that you’ve specified.
Stop Order
An end order lets you chance a ‘worst case scenario’ and protect your important thing when the market ended up being to move against you. You’ll be able to start a limit order which will be automatically triggered when the market breaches your stop price and Indigo will purchase currency at this price to ensure that you tend not to encounter a good worse exchange rate when you really need to make your payment.
The stop enables you to take advantage of your extended period of time to buy the currency hopefully at a higher rate and also protect you if the market ended up being go against you.
N.B. when locating a Stop order there’s a contractual obligation for you to honour the agreement as capable of book the rate for your stop order price.
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