Limit Order
A set limit order enables you to set the minimum or maximum price at which you would want to buy or sell currency. This lets you make the most of rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are fantastic for clients who may have another payment to produce but who still need time for it to achieve a better exchange rate compared to the current spot price before the payment should be settled.
N.B. when placing stop limit order definition there is a contractual obligation for you to honour the agreement if we are in a position to book at the rate which you have specified.
Stop Order
A stop order enables you to run a ‘worst case scenario’ and protect your main point here when the market would have been to move against you. You’ll be able to create a limit order that will be automatically triggered if your market breaches your stop price and Indigo will get your currency as of this price to make sure you don’t encounter an even worse exchange rate when you really need to generate your payment.
The stop enables you to make the most of your extended time period to purchase the currency hopefully in a higher rate and also protect you in the event the market ended up being not in favor of you.
N.B. when locating a Stop order there’s a contractual obligation that you can honour the agreement while we are capable to book the speed at the stop order price.
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