Limit Order
A set limit order enables you to set the minimum or maximum price where you desire to purchase or sell currency. This lets you benefit from rate fluctuations beyond trading hours and hold on for the desired rate.
Limit Orders are fantastic for clients who may have the next payment to generate but who continue to have time to gain a better exchange rate than the current spot price prior to the payment needs to be settled.
N.B. when placing difference between market and limit order there exists a contractual obligation so that you can honour the agreement if we are able to book with the rate you have specified.
Stop Order
A stop order permits you to attempt a ‘worst case scenario’ and protect your bottom line if the market was to move against you. It is possible to set up a limit order that’ll be automatically triggered when the market breaches your stop price and Indigo will get your currency only at that price to ensure that you usually do not encounter a level worse exchange rate when you really need to produce your payment.
The stop lets you make the most of your extended period of time to get the currency hopefully at the higher rate but also protect you in the event the market would have been to oppose you.
N.B. when placing a Stop order there exists a contractual obligation that you can honour the agreement when we’re in a position to book the interest rate for your stop order price.
For more information about stop limit buy order see this popular web portal: read here