Limit Order
An established limit order lets you set the minimum or maximum price from which you would like to purchase and sell currency. This allows you to benefit from rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are ideal for clients who have a future payment to create but who have time to gain a better exchange rate than the current spot price ahead of the payment should be settled.
N.B. when placing difference between limit and stop orders you will find there’s contractual obligation so that you can honour the agreement as able to book on the rate that you have specified.
Stop Order
An end order enables you to attempt a ‘worst case scenario’ and protect your main point here if the market would have been to move against you. You are able to start a limit order which will be automatically triggered if your market breaches your stop price and Indigo will purchase currency as of this price to make sure you usually do not encounter a much worse exchange rate when you require to generate your payment.
The stop allows you to reap the benefits of your extended time period to buy the currency hopefully with a higher rate and also protect you in the event the market ended up being opposed to you.
N.B. when placing a Stop order there is a contractual obligation for you to honour the agreement while we are in a position to book the speed for your stop order price.
More info about difference between limit and stop orders go to the best resource: read