Limit Order
A limit order lets you set the minimum or maximum price from which you want to purchase or sell currency. This lets you make the most of 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 continue to have time for it to achieve a better exchange rate compared to current spot price prior to payment needs to be settled.
N.B. when locating a limit stop order there exists a contractual obligation for you to honour the agreement as capable to book in the rate which you have specified.
Stop Order
An end order allows you to chance a ‘worst case scenario’ and protect your bottom line if the market ended up being to move against you. It is possible to create a limit order which will be automatically triggered if the market breaches your stop price and Indigo will purchase currency with this price to make sure you do not encounter a good worse exchange rate when you require to generate 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 when the market ended up being to not in favor of you.
N.B. when placing Stop order there’s a contractual obligation that you should honour the agreement if we are able to book the interest rate for your stop order price.
For more information about how does a limit order work browse this web portal: learn here