Limit Order
A limit order allows you to set the minimum or maximum price from which you desire to buy or sell currency. This enables you to benefit from rate fluctuations beyond trading hours and hold out for the desired rate.
Limit Orders are ideal for clients who may have another payment to generate but who still need time for you to have a better exchange rate than the current spot price prior to payment has to be settled.
N.B. when locating a limit order example there exists a contractual obligation for you to honour the agreement when we’re capable to book with the rate you have specified.
Stop Order
An end order permits you to chance a ‘worst case scenario’ and protect your main point here if the market was to move against you. It is possible to generate a limit order that will be automatically triggered when the market breaches your stop price and Indigo will get your currency as of this price to actually tend not to encounter a level worse exchange rate if you want to produce your payment.
The stop allows you to take advantage of your extended timeframe to purchase the currency hopefully with a higher rate but in addition protect you in the event the market would have been to opposed to you.
N.B. when putting a Stop order there is a contractual obligation that you should honour the agreement as able to book the speed for your stop order price.
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