Limit Order
A limit order enables you to set the minimum or maximum price at which you would like to purchase or sell currency. This enables you to take advantage of rate fluctuations beyond trading hours and delay to your desired rate.
Limit Orders are fantastic for clients who may have a future payment to make but who still need time to achieve a better exchange rate compared to the current spot price ahead of the payment must be settled.
N.B. when locating a what is stop order and limit order there exists a contractual obligation that you should honour the agreement as able to book with the rate that you have specified.
Stop Order
A stop order lets you chance a ‘worst case scenario’ and protect your main point here if the market was to move against you. You’ll be able to set up a limit order that is to be automatically triggered if the market breaches your stop price and Indigo will purchase your currency only at that price to ensure that you don’t encounter a much worse exchange rate when you require to produce your payment.
The stop lets you reap the benefits of your extended period of time to buy the currency hopefully in a higher rate but additionally protect you if the market was to go against you.
N.B. when placing Stop order there’s a contractual obligation so that you can honour the agreement when we’re capable to book the interest rate at the stop order price.
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