Limit Order
An established limit order enables you to set the minimum or maximum price where you want to purchase or sell currency. This allows you to reap the benefits of rate fluctuations beyond trading hours and hold out to your desired rate.
Limit Orders are ideal for clients who’ve a future payment to create but who have time to acquire a better exchange rate as opposed to current spot price prior to payment needs to be settled.
N.B. when locating a stop limit buy order there’s a contractual obligation for you to honour the agreement if we are in a position to book on the rate which you have specified.
Stop Order
An end order allows you to run a ‘worst case scenario’ and protect your net profit in the event the market was to move against you. You are able to generate a limit order which will be automatically triggered if the market breaches your stop price and Indigo will buy your currency only at that price to ensure that you don’t encounter an even worse exchange rate when you really need to create your payment.
The stop lets you make the most of your extended time frame to get the currency hopefully with a higher rate but additionally protect you if your market was to not in favor of you.
N.B. when placing Stop order there is a contractual obligation that you can honour the agreement if we are able to book the rate at the stop order price.
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