Limit Order
A restriction order enables you to set the minimum or maximum price where you want to sell or buy currency. This allows you to benefit from rate fluctuations beyond trading hours and wait on your desired rate.
Limit Orders are fantastic for clients that have the next payment to create but who continue to have time to gain a better exchange rate compared to the current spot price ahead of the payment should be settled.
N.B. when putting a what’s a stop limit order there exists a contractual obligation that you can honour the agreement if we are in a position to book in the rate that you’ve specified.
Stop Order
A stop order enables you to manage a ‘worst case scenario’ and protect your important thing if your market ended up being to move against you. You’ll be able to start a limit order that will be automatically triggered if the market breaches your stop price and Indigo will get your currency with this price to make sure you tend not to encounter a much worse exchange rate when you require to produce your payment.
The stop enables you to reap the benefits of your extended time period to get the currency hopefully at the higher rate and also protect you if your market ended up being to oppose you.
N.B. when placing Stop order there’s a contractual obligation so that you can honour the agreement while we are in a position to book the rate at the stop order price.
To learn more about limit and market order take a look at this useful net page: click