Market orders

Market orders

Stop loss orders, limit orders & OCO orders for your payment needs

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What is a market order?

A market order is an agreement to buy currency at the best available exchange rate. This enables you to receive an exchange rate you are satisfied with, without having to monitor the market or worry about your currency exposure. Markers orders are ideal if you need to make a payment with no immediate urgency.

There are two types of market orders: stop loss orders and limit orders.

 

What is a limit order?

Limit orders are used when you wish to buy currency at a value above the market value. This is best used when there is an upwards trend for your required exchange rate and you believe it will continue. You are able to set an exchange rate stop on your desired rate, so that if it is achieved, your exchange will be automated and you can buy your currency at that rate.  

 

What is a stop loss order?

Stop orders are the opposite of limit orders in that they are used if you believe an upwards trend in the exchange rate will be reversed and that the rate will move against you. This helps protect your currency exposure and ensure you don’t suffer from a poorer exchange rate than you expected.

 

What are OCO orders?

An OCO order (or One-Cancels-the-Other order) is a combination of both a limit order and a stop loss order. OCO orders place a targeted limit level above the current exchange rate as well as a stop loss level below it.

OCO orders dictate that if the rate moves up to your desired limit, the trade will be triggered and your currency will be exchanged, removing and disregarding the lower stop loss level. Alternatively, if the rate moves downwards and hits your stop loss level, your trade will be made and your higher set limit will be ignored. 

By using an OCO order, you can take advantage of any positive exchange rate movements, whilst protecting your foreign currency exposure.

 

How can I agree a market order with moneycorp?

Our wide range of corporate FX solutions, including limit orders, stop loss orders and OCO orders, can all be agreed via our team of currency specialists. Your account manager can talk you through the process of agreeing a market order for your currency transfer requirements, and can answer any questions or queries you may have.

What else we can offer

120+ currencies available

120+ currencies available

24/7 access

24/7 access

The ability to set up regular payments and target rates

The ability to set up regular payments and target rates

Our foreign exchange solutions for your business

Our foreign exchange solutions for your business

To find out more about our foreign exchange and global payment solutions for businesses, you can view our brochure.

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Watch live FX rates change in our Currency Zone

Watch live FX rates change in our Currency Zone