Limit Order
A limit order allows you to set the minimum or maximum price where you would like to buy or sell currency. This enables you to make the most of rate fluctuations beyond trading hours and hold on on your desired rate.
Limit Orders are ideal for clients who’ve a future payment to make but who still have time for it to have a better exchange rate compared to current spot price before the payment has to be settled.
N.B. when putting a stop limit buy order you will find there’s contractual obligation so that you can honour the agreement when we’re able to book at the rate which you have specified.
Stop Order
An end order permits you to manage a ‘worst case scenario’ and protect your bottom line in the event the market was to move against you. You’ll be able to generate a limit order that’ll be automatically triggered if your market breaches your stop price and Indigo will purchase currency at this price to successfully do not encounter a much worse exchange rate when you need to make your payment.
The stop lets you benefit from your extended timeframe to get the currency hopefully at the higher rate but also protect you when the market would have been to opposed to you.
N.B. when placing Stop order there is a contractual obligation so that you can honour the agreement while we are in a position to book the rate at your stop order price.
Check out about stop limit vs stop go to this popular web site: click