Limit Order
A set limit order lets you set the minimum or maximum price of which you desire to purchase or sell currency. This lets you take advantage of rate fluctuations beyond trading hours and hold on for the desired rate.
Limit Orders are perfect for clients who have another payment to create but who have time and energy to acquire a better exchange rate as opposed to current spot price ahead of the payment should be settled.
N.B. when placing a limit and market order there’s a contractual obligation for you to honour the agreement if we are able to book on the rate which you have specified.
Stop Order
A stop order permits you to chance a ‘worst case scenario’ and protect your net profit if your market was to move against you. It is possible to set up a limit order that is to be automatically triggered when the market breaches your stop price and Indigo will purchase currency only at that price to ensure that you don’t encounter a much worse exchange rate when you need to generate your payment.
The stop permits you to make the most of your extended timeframe to get the currency hopefully in a higher rate but in addition protect you if the market ended up being opposed to you.
N.B. when placing a Stop order you will find there’s contractual obligation for you to honour the agreement as able to book the interest rate at the stop order price.
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