Limit Order
A limit order enables you to set the minimum or maximum price from which you desire to sell or buy currency. This lets you reap the benefits of rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are perfect for clients who have an upcoming payment to produce but who continue to have time for it to acquire a better exchange rate compared to the current spot price prior to the payment has to be settled.
N.B. when locating a stop limit vs stop there exists a contractual obligation so that you can honour the agreement while we are capable to book at the rate that you’ve specified.
Stop Order
An end order allows you to chance a ‘worst case scenario’ and protect your main point here when the market ended up being move against you. It is possible to generate a limit order that’ll be automatically triggered if the market breaches your stop price and Indigo will purchase currency as of this price to ensure that you don’t encounter a much worse exchange rate when you need to produce your payment.
The stop enables you to benefit from your extended timeframe to purchase the currency hopefully with a higher rate but in addition protect you if the market would have been to not in favor of you.
N.B. when putting a Stop order there is a contractual obligation for you to honour the agreement if we are capable to book the rate for your stop order price.
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