Limit orders
A Limit order enables you to target a better exchange rate than is available at the time of placing the order. It is an instruction to buy or sell currency at a predetermined ‘best case’ exchange rate, which if achieved, will go through automatically.
Benefits of Limit orders:
- Control: buy and sell at the rate you want
- Certainty: currency professionals monitoring the exchange rates for you 24/7
- Flexibility: you can modify or cancel your order at any time
Stop loss orders
A Stop loss order enables you to protect yourself against the exchange rate moving against you. It is an instruction to buy or sell currency at a predetermined ‘worst case’ exchange rate, which, if achieved, will complete your instruction automatically.
- Protection against exchange rate losses
- Budgeting control: provide a minimum exchange rate you can budget against
- Professional guidance: rates monitored by professionals—24/7
- Flexibility: your order can be modified or cancelled if needed
Combining Limit and Stop loss orders
You can exert greater control over exchange rate uncertainty by using both Limit and Stop loss orders together. By setting both upper and lower exchange rate thresholds, you control the range within which the currency can move, providing you with a guaranteed exchange rate and making your currency trades far more predictable.
