Limit Order
A set limit order enables you to set the minimum or maximum price where you would like to buy or sell currency. This enables you to benefit from rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are perfect for clients who’ve an upcoming payment to create but who still need time to acquire a better exchange rate compared to current spot price ahead of the payment has to be settled.
N.B. when locating a difference between limit and market order there exists a contractual obligation for you to honour the agreement as able to book at the rate that you’ve specified.
Stop Order
A stop order enables you to run a ‘worst case scenario’ and protect your main point here in the event the market ended up being to move against you. You’ll be able to set up a limit order that’ll be automatically triggered when the market breaches your stop price and Indigo will get your currency at this price to successfully tend not to encounter a much worse exchange rate when you need to create your payment.
The stop permits you to benefit from your extended timeframe to buy the currency hopefully at the higher rate and also protect you if the market ended up being to go against you.
N.B. when putting a Stop order there exists a contractual obligation so that you can honour the agreement when we’re capable to book the rate at the stop order price.
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