Limit Order
A limit order permits you to set the minimum or maximum price of which you would want to purchase and sell currency. This enables you to reap the benefits of rate fluctuations beyond trading hours and wait for your desired rate.
Limit Orders are fantastic for clients that have a future payment to make but who still have time for it to gain a better exchange rate compared to the current spot price ahead of the payment should be settled.
N.B. when locating a difference between limit and market order there exists a contractual obligation that you should honour the agreement if we are capable to book on the rate that you’ve specified.
Stop Order
A stop order allows you to run a ‘worst case scenario’ and protect your net profit when the market ended up being move against you. You can create a limit order that is to be automatically triggered if your market breaches your stop price and Indigo will purchase your currency with this price to make sure you don’t encounter a good worse exchange rate if you want to make your payment.
The stop lets you make the most of your extended time frame to get the currency hopefully in a higher rate and also protect you if your market was to go against you.
N.B. when putting a Stop order there is a contractual obligation that you can honour the agreement as capable of book the speed at the stop order price.
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