Limit Order
A limit order lets you set the minimum or maximum price of which you would like to buy or sell currency. This lets you reap the benefits of rate fluctuations beyond trading hours and hold out for the desired rate.
Limit Orders are ideal for clients who’ve another payment to make but who have time for you to have a better exchange rate than the current spot price prior to the payment needs to be settled.
N.B. when putting a what is limit order to buy there exists a contractual obligation that you can honour the agreement if we are capable to book in the rate that you have specified.
Stop Order
An end order lets you manage a ‘worst case scenario’ and protect your net profit if your market was to move against you. It is possible to start a limit order that is to be automatically triggered if your market breaches your stop price and Indigo will purchase your currency with this price to actually don’t encounter an even worse exchange rate when you really need to create your payment.
The stop enables you to take advantage of your extended period of time to get the currency hopefully at the higher rate but in addition protect you when the market ended up being go against you.
N.B. when locating a Stop order there is a contractual obligation for you to honour the agreement as able to book the rate at the stop order price.
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