Limit Order
An established limit order lets you set the minimum or maximum price where you would want to purchase and sell currency. This allows you to make the most of rate fluctuations beyond trading hours and hold on on your desired rate.
Limit Orders are perfect for clients who may have another payment to produce but who still need time for it to achieve a better exchange rate than the current spot price before the payment has to be settled.
N.B. when putting a stop limit buy order there is a contractual obligation for you to honour the agreement if we are in a position to book on the rate you have specified.
Stop Order
A stop order enables you to run a ‘worst case scenario’ and protect your bottom line if the market was to move against you. You can start a limit order which will be automatically triggered if the market breaches your stop price and Indigo will buy your currency at this price to make sure you do not encounter a much worse exchange rate when you really need to produce your payment.
The stop permits you to take advantage of your extended time period to get the currency hopefully at the higher rate but also protect you in the event the market ended up being oppose you.
N.B. when placing Stop order there’s a contractual obligation that you should honour the agreement when we’re capable of book the rate your stop order price.
More info about difference between stop loss and stop limit order have a look at our web portal: read here