Limit Order
An established limit order allows you to set the minimum or maximum price where you desire to purchase or sell currency. This enables you to take advantage of rate fluctuations beyond trading hours and hold on on your desired rate.
Limit Orders are best for clients that have a future payment to generate but who continue to have time for it to gain a better exchange rate than the current spot price ahead of the payment has to be settled.
N.B. when locating a what is stop order and limit order there is a contractual obligation that you should honour the agreement as capable of book at the rate which you have specified.
Stop Order
A stop order enables you to chance a ‘worst case scenario’ and protect your net profit if the market was to move against you. You’ll be able to generate a limit order that’ll be automatically triggered when the market breaches your stop price and Indigo will purchase your currency at this price to make sure you tend not to encounter an even worse exchange rate when you really need to generate your payment.
The stop permits you to take advantage of your extended time frame to purchase the currency hopefully at a higher rate and also protect you when the market ended up being to not in favor of you.
N.B. when putting a Stop order there is a contractual obligation that you should honour the agreement if we are capable to book the pace at your stop order price.
For details about difference between market and limit order go to this useful web portal: click site