Limit Order
An established limit order enables you to set the minimum or maximum price where you would like to purchase or sell currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and hold out to your desired rate.
Limit Orders are ideal for clients that have a future payment to generate but who have time for you to have a better exchange rate as opposed to current spot price ahead of the payment has to be settled.
N.B. when placing limit order example you will find there’s contractual obligation for you to honour the agreement while we are able to book at the rate that you’ve specified.
Stop Order
A stop order allows you to run a ‘worst case scenario’ and protect your net profit when the market was to move against you. You’ll be able to create a limit order that is to be automatically triggered if your market breaches your stop price and Indigo will buy your currency with this price to successfully do not encounter a much worse exchange rate when you really need to make your payment.
The stop permits you to reap the benefits of your extended period of time to get the currency hopefully at the higher rate and also protect you if the market would have been to not in favor of you.
N.B. when locating a Stop order there’s a contractual obligation that you should honour the agreement if we are capable to book the speed your stop order price.
To read more about stop order vs stop limit order have a look at this popular web portal: read more