A limit order allows you to set the minimum or maximum price at which you would like to buy or sell currency. This enables you to take advantage of rate fluctuations beyond trading hours and hold out for your desired rate.
Limit Orders are ideal for clients who have a future payment to make but who still have time to achieve a better exchange rate than the current spot price before the payment needs to be settled.
N.B. when placing a limit order there is a contractual obligation for you to honour the agreement if we are able to book at the rate that you have specified.
A stop order allows you to manage a ‘worst case scenario’ and protect your bottom line if the market was to move against you. You can set up a limit order that will be automatically triggered if the market breaches your stop price and Indigo will purchase your currency at this price to ensure that you do not encounter an even worse exchange rate when you need to make your payment.
The stop allows you to take advantage of your extended time frame to purchase the currency hopefully at a higher rate but also protect you if the market was to go against you.
N.B. when placing a Stop order there is a contractual obligation for you to honour the agreement if we are able to book the rate at your stop order price.