Limit Order
A limit order lets you set the minimum or maximum price at which you would like to purchase or sell currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and wait for the desired rate.
Limit Orders are perfect for clients who have an upcoming payment to produce but who still have time to have a better exchange rate as opposed to current spot price prior to the payment must be settled.
N.B. when placing limit stop order there’s a contractual obligation that you can honour the agreement if we are capable of book on the rate that you’ve specified.
Stop Order
An end order allows you to manage a ‘worst case scenario’ and protect your bottom line if your market would have been to move against you. You’ll be able to create a limit order which will be automatically triggered if your market breaches your stop price and Indigo will get your currency with this price to actually don’t encounter a level worse exchange rate when you need to make your payment.
The stop lets you reap the benefits of your extended time frame to purchase the currency hopefully in a higher rate and also protect you in the event the market was to go against you.
N.B. when putting a Stop order there exists a contractual obligation that you can honour the agreement as able to book the interest rate at your stop order price.
For more information about difference between limit and market order see this net page: this site