Limit Order
A restriction order lets you set the minimum or maximum price where you desire to purchase and sell currency. This lets you take advantage of rate fluctuations beyond trading hours and wait for the desired rate.
Limit Orders are best for clients who’ve the next payment to create but who still need time for it to have a better exchange rate compared to current spot price prior to payment should be settled.
N.B. when placing a what is a stop market order there exists a contractual obligation so that you can honour the agreement when we’re able to book in the rate which you have specified.
Stop Order
A stop order enables you to chance a ‘worst case scenario’ and protect your net profit in the event the market ended up being to move against you. You are able to generate a limit order that’ll be automatically triggered in the event the market breaches your stop price and Indigo will buy your currency only at that price to ensure that you don’t encounter a good worse exchange rate when you require to generate your payment.
The stop enables you to make the most of your extended timeframe to buy the currency hopefully at the higher rate but additionally protect you if the market was to opposed to you.
N.B. when placing a Stop order there is a contractual obligation so that you can honour the agreement if we are capable to book the interest rate for your stop order price.
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