Limit Order
A set limit order lets you set the minimum or maximum price from which you would like to sell or buy currency. This lets you reap the benefits of rate fluctuations beyond trading hours and delay on your desired rate.
Limit Orders are fantastic for clients who may have a future payment to make but who have time for you to achieve a better exchange rate compared to the current spot price prior to the payment has to be settled.
N.B. when putting a what is stop limit order you will find there’s contractual obligation so that you can honour the agreement as capable of book at the rate that you’ve specified.
Stop Order
A stop order lets you chance a ‘worst case scenario’ and protect your bottom line in the event the market ended up being to move against you. You’ll be able to set up a limit order that is to be automatically triggered if your market breaches your stop price and Indigo will purchase your currency as of this price to ensure that you usually do not encounter an even worse exchange rate if you want to create your payment.
The stop permits you to take advantage of your extended time period to purchase the currency hopefully in a higher rate and also protect you in the event the market was to opposed to you.
N.B. when locating a Stop order there’s a contractual obligation that you can honour the agreement as able to book the speed your stop order price.
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