So how exactly does an industry Order work?
Limit Order
A restriction order allows you to set the minimum or maximum price at which you want to purchase and sell currency. This lets you make the most of rate fluctuations beyond trading hours and hold on for your desired rate.
Limit Orders are perfect for clients that have the next payment to create but who still have time for you to have a better exchange rate than the current spot price prior to the payment should be settled.
N.B. when putting a stop order buy there is a contractual obligation that you should honour the agreement if we are able to book in the rate that you have specified.
Stop Order
An end order enables you to chance a ‘worst case scenario’ and protect your bottom line in the event the market ended up being to move against you. It is possible to set up a limit order which will be automatically triggered in the event the market breaches your stop price and Indigo will get your currency only at that price to actually do not encounter a level worse exchange rate when you require to generate your payment.
The stop permits you to take advantage of your extended time period to purchase the currency hopefully at the higher rate but also protect you if your market ended up being to not in favor of you.
N.B. when putting a Stop order you will find there’s contractual obligation for you to honour the agreement if we are capable to book the interest rate for your stop order price.
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