Limit Orders
A Limit Order is an order to buy or sell currency at a specific rate or better. You can create Limit Orders for spot trades and for forward trades.
When you enter a Limit Order, you specify the buy and sell currencies, the amount, and the target rate at which you want to fill the order. If your target rate becomes available before the order's expiry date, the system will automatically book the deal on your behalf.
Important: A Limit Order is not guaranteed to fill.
Forward Limit Orders can be either Closed Forwards or Open Forwards.
- Closed Forwards let you use the funds on a specific future date (also known as
the ).
- Open Forwards let you use the funds at any time between the and the .
When Limit Order fills, you will receive an email to let you know that the order was filled. You can then finish the order so that the funds are available for you to use.
Note: Before you can book Limit Orders, you must sign a Master Hedging Agreement. For more information, see Master Hedging Agreement.