Limit Order
A set limit order permits you to set the minimum or maximum price from which you would like to buy or sell currency. This allows you to benefit from rate fluctuations beyond trading hours and wait for your desired rate.
Limit Orders are fantastic for clients who’ve an upcoming payment to produce but who continue to have time and energy to have a better exchange rate compared to the current spot price prior to payment has to be settled.
N.B. when locating a difference between buy limit and buy stop in forex you will find there’s contractual obligation that you should honour the agreement as capable to book at the rate that you’ve specified.
Stop Order
A stop order allows you to manage a ‘worst case scenario’ and protect your bottom line in the event the market would have been to move against you. You’ll be able to generate a limit order that’ll be automatically triggered if the market breaches your stop price and Indigo will get your currency with this price to ensure that you tend not to encounter a good worse exchange rate when you need to generate your payment.
The stop allows you to benefit from your extended timeframe to acquire the currency hopefully at a higher rate and also protect you if the market would have been to opposed to you.
N.B. when placing a Stop order there’s a contractual obligation for you to honour the agreement when we’re capable of book the pace at the stop order price.
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