Limit Order
A set limit order allows you to set the minimum or maximum price where you want to sell or buy currency. This lets you make the most of rate fluctuations beyond trading hours and wait to your desired rate.
Limit Orders are perfect for clients that have another payment to create but who still need time for you to gain a better exchange rate than the current spot price before the payment has to be settled.
N.B. when putting a limit and market order there is a contractual obligation that you should honour the agreement as able to book in the rate which you have specified.
Stop Order
A stop order permits you to chance a ‘worst case scenario’ and protect your net profit in the event the market would have been to move against you. You’ll be able to set up a limit order which will be automatically triggered when the market breaches your stop price and Indigo will purchase currency at this price to make sure you do not encounter an even worse exchange rate when you really need to make your payment.
The stop lets you make the most of your extended time frame to get the currency hopefully in a higher rate but also protect you when the market ended up being to go against you.
N.B. when putting a Stop order there’s a contractual obligation for you to honour the agreement when we’re in a position to book the interest rate for your stop order price.
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