Limit Order
A limit order lets you set the minimum or maximum price from which you want to purchase and sell currency. This enables you to benefit from rate fluctuations beyond trading hours and wait to your desired rate.
Limit Orders are perfect for clients who have an upcoming payment to create but who have time and energy to acquire a better exchange rate compared to the current spot price before the payment needs to be settled.
N.B. when putting a how does a limit order work there is a contractual obligation that you should honour the agreement as able to book at the rate which you have specified.
Stop Order
A stop order allows you to attempt a ‘worst case scenario’ and protect your net profit in the event the market ended up being to move against you. You are able to generate a limit order that will be automatically triggered in the event the market breaches your stop price and Indigo will purchase your currency as of this price to actually do not encounter a good worse exchange rate when you need to create your payment.
The stop lets you reap the benefits of your extended time frame to acquire the currency hopefully with a higher rate but additionally protect you in the event the market ended up being 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 of book the rate your stop order price.
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