Limit Order
A set limit order lets you set the minimum or maximum price from which you would want to buy or sell currency. This lets you take advantage of rate fluctuations beyond trading hours and wait on your desired rate.
Limit Orders are best for clients who have a future payment to generate but who have time and energy to have a better exchange rate than the current spot price ahead of the payment must be settled.
N.B. when locating a stop limit buy order there’s a contractual obligation that you can honour the agreement if we are able to book with the rate that you have specified.
Stop Order
A stop order permits you to attempt a ‘worst case scenario’ and protect your net profit when the market ended up being to move against you. It is possible to set up a limit order that is to be automatically triggered if the market breaches your stop price and Indigo will purchase currency with this price to make sure you don’t encounter a good worse exchange rate when you need to create your payment.
The stop allows you to take advantage of your extended time period to purchase the currency hopefully in a higher rate but also protect you in the event the market ended up being to go against you.
N.B. when locating a Stop order there’s a contractual obligation that you should honour the agreement if we are able to book the pace at the stop order price.
More information about difference between market and limit order check our website: read