Limit Order
A set limit order lets you set the minimum or maximum price of which you want to purchase or sell currency. This allows you to take advantage of rate fluctuations beyond trading hours and delay to your desired rate.
Limit Orders are best for clients who have another payment to make but who still need time for you to achieve a better exchange rate compared to the current spot price prior to the payment needs to be settled.
N.B. when putting a difference between stop loss and limit order there’s a contractual obligation for you to honour the agreement when we’re in a position to book with the rate you have specified.
Stop Order
A stop order enables you to manage a ‘worst case scenario’ and protect your bottom line when the market would have been to move against you. It is possible to start a limit order that is to be automatically triggered if the market breaches your stop price and Indigo will buy your currency at this price to make sure you don’t encounter a much worse exchange rate when you need to create your payment.
The stop enables you to reap the benefits of your extended time period to purchase the currency hopefully in a higher rate but in addition protect you when the market was to not in favor of you.
N.B. when locating a Stop order you will find there’s contractual obligation for you to honour the agreement as in a position to book the speed at the stop order price.
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