Limit Order
A limit order enables you to set the minimum or maximum price of which you desire to sell or buy currency. This enables you to reap the benefits of rate fluctuations beyond trading hours and wait on your desired rate.
Limit Orders are fantastic for clients who may have the next payment to produce but who still need time for you to achieve a better exchange rate as opposed to current spot price prior to payment has to be settled.
N.B. when putting a difference between buy limit and buy stop in forex there exists a contractual obligation that you should honour the agreement while we are able to book on the rate which you have specified.
Stop Order
A stop order enables you to attempt a ‘worst case scenario’ and protect your net profit when the market was to move against you. It is possible to create a limit order that will be automatically triggered if the market breaches your stop price and Indigo will purchase your currency as of this price to make sure you do not encounter a level worse exchange rate when you really need to make your payment.
The stop allows you to make the most of your extended timeframe to purchase the currency hopefully with a higher rate but in addition protect you in the event the market was to go against you.
N.B. when locating a Stop order you will find there’s contractual obligation that you can honour the agreement if we are able to book the rate at the stop order price.
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