Limit Order
A limit order permits you to set the minimum or maximum price from which you desire to purchase or sell currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and delay for your desired rate.
Limit Orders are best for clients that have a future payment to make but who continue to have time for you to achieve a better exchange rate compared to current spot price prior to payment has to be settled.
N.B. when placing a stop limit vs stop there is a contractual obligation for you to honour the agreement when we’re in a position to book in the rate which you have specified.
Stop Order
An end order enables you to chance a ‘worst case scenario’ and protect your net profit in the event the market would have been to move against you. You’ll be able to set up a limit order which will be automatically triggered if your market breaches your stop price and Indigo will get your currency as of this price to actually tend not to encounter an even worse exchange rate if you want to generate your payment.
The stop enables you to benefit from your extended time frame to purchase the currency hopefully at a higher rate but in addition protect you if the market would have been to opposed to you.
N.B. when locating a Stop order there exists a contractual obligation that you can honour the agreement as in a position to book the rate at the stop order price.
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