Limit Order
A set limit order lets you set the minimum or maximum price from which you want to purchase or sell currency. This lets you reap the benefits of rate fluctuations beyond trading hours and hold out to your desired rate.
Limit Orders are fantastic for clients who may have a future payment to make but who still need time to achieve a better exchange rate compared to the current spot price prior to payment has to be settled.
N.B. when placing different types of orders in stock market you will find there’s contractual obligation so that you can honour the agreement if we are capable to book on the rate that you have specified.
Stop Order
A stop order lets you chance a ‘worst case scenario’ and protect your main point here if your market ended up being to move against you. It is possible to start a limit order that’ll be automatically triggered when the market breaches your stop price and Indigo will buy your currency with this price to actually do not encounter a good worse exchange rate when you need to make your payment.
The stop lets you make the most of your extended time frame to acquire the currency hopefully with a higher rate but also protect you in the event the market ended up being to opposed to you.
N.B. when putting a Stop order you will find there’s contractual obligation for you to honour the agreement when we’re in a position to book the interest rate at the stop order price.
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