Limit Order
A limit order enables you to set the minimum or maximum price of which you want to sell or buy currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are ideal for clients who have an upcoming payment to create but who continue to have time for it to achieve a better exchange rate compared to current spot price prior to the payment needs to be settled.
N.B. when placing stop limit order definition there exists a contractual obligation that you can honour the agreement if we are in a position to book with the rate which you have specified.
Stop Order
A stop order permits you to manage a ‘worst case scenario’ and protect your main point here if your market was to move against you. You are able to start a limit order which will be automatically triggered in the event the market breaches your stop price and Indigo will purchase currency with this price to actually don’t encounter an even worse exchange rate if you want to create your payment.
The stop allows you to make the most of your extended time period to get the currency hopefully at a higher rate and also protect you if the market ended up being go against you.
N.B. when locating a Stop order there’s a contractual obligation that you can honour the agreement as capable of book the rate for your stop order price.
For details about difference between limit and market order visit our net page: click for more
