Limit Order
A set limit order permits you to set the minimum or maximum price at which you desire to sell or buy currency. This allows you to take advantage of rate fluctuations beyond trading hours and hold on for the desired rate.
Limit Orders are best for clients who may have the next payment to make but who still have time for it to have a better exchange rate than the current spot price prior to payment needs to be settled.
N.B. when placing a stop limit buy order there exists a contractual obligation that you can honour the agreement if we are capable to book with the rate that you’ve specified.
Stop Order
A stop order permits you to run a ‘worst case scenario’ and protect your important thing if the market was to move against you. You are able to start a limit order that is to be automatically triggered in the event the market breaches your stop price and Indigo will purchase currency with this price to actually tend not to encounter a much worse exchange rate if you want to create your payment.
The stop enables you to make the most of your extended time frame to buy the currency hopefully in a higher rate but also protect you if your market was to not in favor of you.
N.B. when putting a Stop order you will find there’s contractual obligation that you should honour the agreement when we’re in a position to book the pace at the stop order price.
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