Limit Order
A limit order enables you to set the minimum or maximum price at which you would want to sell or buy currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and wait for your desired rate.
Limit Orders are perfect for clients who have a future payment to make but who still have time to gain a better exchange rate compared to current spot price before the payment needs to be settled.
N.B. when placing what is stop market order there’s a contractual obligation that you can honour the agreement while we are capable of book in the rate you have specified.
Stop Order
A stop order allows you to run a ‘worst case scenario’ and protect your main point here if your market ended up being to move against you. You’ll be able to generate a limit order that is to be automatically triggered if the market breaches your stop price and Indigo will purchase currency at this price to ensure that you don’t encounter a much worse exchange rate if you want to produce your payment.
The stop lets you take advantage of your extended time frame to purchase the currency hopefully at the higher rate and also protect you in the event the market ended up being to not in favor of you.
N.B. when putting a Stop order there exists a contractual obligation so that you can honour the agreement if we are capable to book the interest rate your stop order price.
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