Limit Order
A limit order enables you to set the minimum or maximum price at which you would like to buy or sell currency. This allows you to take advantage of rate fluctuations beyond trading hours and hold on for your desired rate.
Limit Orders are fantastic for clients that have the next payment to create but who have time for it to gain a better exchange rate as opposed to current spot price before the payment has to be settled.
N.B. when placing a what is stop order and limit order there exists a contractual obligation so that you can honour the agreement when we’re in a position to book with the rate that you’ve specified.
Stop Order
A stop order allows you to chance a ‘worst case scenario’ and protect your important thing if the market ended up being move against you. You are able to set up a limit order that is to be automatically triggered if the market breaches your stop price and Indigo will purchase currency only at that price to ensure that you tend not to encounter a good worse exchange rate when you need to make your payment.
The stop lets you make the most of your extended time frame to get the currency hopefully at a higher rate but in addition protect you if the market ended up being to not in favor of you.
N.B. when locating a Stop order there’s a contractual obligation that you should honour the agreement as in a position to book the rate at the stop order price.
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