Limit Order
A set limit order lets you set the minimum or maximum price from which you desire to sell or buy currency. This lets you reap the benefits of rate fluctuations beyond trading hours and wait on your desired rate.
Limit Orders are ideal for clients who have an upcoming payment to create but who have time and energy to gain a better exchange rate as opposed to current spot price before the payment must be settled.
N.B. when placing a what is stop limit order there is a contractual obligation so that you can honour the agreement when we’re capable to book in the rate that you’ve specified.
Stop Order
A stop order allows you to attempt a ‘worst case scenario’ and protect your bottom line in the event the market ended up being to move against you. You can generate a limit order that will be automatically triggered when the market breaches your stop price and Indigo will buy your currency with this price to actually do not encounter a much worse exchange rate if you want to produce your payment.
The stop allows you to take advantage of your extended period of time to acquire the currency hopefully at a higher rate but in addition protect you when the market ended up being to oppose you.
N.B. when locating a Stop order there is a contractual obligation that you can honour the agreement when we’re capable of book the interest rate your stop order price.
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