Limit Order
An established limit order permits you to set the minimum or maximum price where you desire to buy or sell currency. This lets you take advantage of rate fluctuations beyond trading hours and delay to your desired rate.
Limit Orders are best for clients who have an upcoming payment to make but who still need time to have a better exchange rate as opposed to current spot price ahead of the payment must be settled.
N.B. when placing a difference between buy limit and buy stop in forex there exists a contractual obligation that you should honour the agreement as able to book in the rate which you have specified.
Stop Order
An end order lets you chance a ‘worst case scenario’ and protect your net profit if the market ended up being to move against you. It is possible to start a limit order that is to be automatically triggered in the event the market breaches your stop price and Indigo will get your currency only at that price to ensure that you do not encounter a level worse exchange rate if you want to generate your payment.
The stop permits you to make the most of your extended timeframe to get the currency hopefully at a higher rate but also protect you in the event the market ended up being go against you.
N.B. when placing Stop order there’s a contractual obligation that you can honour the agreement as capable of book the interest rate your stop order price.
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