So how exactly does a niche Order operate?

Limit Order

An established limit order permits you to set the minimum or maximum price at which you would want to buy or sell currency. This enables 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 have an upcoming payment to generate but who still have time to achieve a better exchange rate as opposed to current spot price prior to the payment needs to be settled.

N.B. when locating a difference between limit and market order there is a contractual obligation for you to honour the agreement as able to book in the rate you have specified.
Stop Order

A stop order enables you to attempt a ‘worst case scenario’ and protect your bottom line when the market would have been to move against you. You can generate a limit order that is to be automatically triggered if your market breaches your stop price and Indigo will get your currency with this price to successfully usually do not encounter a good worse exchange rate if you want to create your payment.

The stop allows you to make the most of your extended time period to purchase the currency hopefully at a higher rate but in addition protect you when the market ended up being go against you.

N.B. when locating a Stop order there’s a contractual obligation for you to honour the agreement when we’re capable to book the rate at the stop order price.
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