Limit Order
A limit order enables you to set the minimum or maximum price at which you desire to purchase or sell currency. This lets you take advantage of rate fluctuations beyond trading hours and hold out for the desired rate.
Limit Orders are fantastic for clients who have a future payment to generate but who continue to have time for you to gain a better exchange rate compared to current spot price prior to the payment must be settled.
N.B. when placing limit vs. stop order there exists a contractual obligation so that you can honour the agreement while we are able to book at the rate that you’ve specified.
Stop Order
A stop order permits you to run a ‘worst case scenario’ and protect your bottom line when the market ended up being move against you. You are able to generate a limit order that is to be automatically triggered in the event the market breaches your stop price and Indigo will buy your currency with this price to make sure you don’t encounter a good worse exchange rate when you really need to generate your payment.
The stop lets you make the most of your extended time frame to get the currency hopefully with a higher rate and also protect you if the market ended up being to opposed to you.
N.B. when placing a Stop order there is a contractual obligation so that you can honour the agreement when we’re capable to book the pace for your stop order price.
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