Limit Order
A set limit order enables you to set the minimum or maximum price of which you would like to sell or buy currency. This lets you reap the benefits of rate fluctuations beyond trading hours and hold out for the desired rate.
Limit Orders are perfect for clients that have a future payment to produce but who have time to gain a better exchange rate compared to current spot price before the payment should be settled.
N.B. when placing a stop limit buy order there is a contractual obligation that you should honour the agreement if we are able to book at the rate that you have specified.
Stop Order
An end order allows you to run a ‘worst case scenario’ and protect your bottom line if your market was to move against you. You’ll be able to start a limit order which will be automatically triggered when the market breaches your stop price and Indigo will purchase your currency only at that price to successfully tend not to encounter a level worse exchange rate when you really need to make your payment.
The stop allows you to benefit from your extended time frame to purchase the currency hopefully in a higher rate and also protect you if the market was to go against you.
N.B. when placing Stop order there’s a contractual obligation so that you can honour the agreement when we’re capable of book the interest rate for your stop order price.
For more information about difference between buy limit and buy stop in forex go our webpage: read here