Not happy with the current exchange rate?
No problem. You can place a Market Order online to target a rate that you would like to achieve and we’ll monitor it for you. All the market orders are free to use and are live until cancelled by you.
Take the stress out of watching the market rate fluctuate and let Currency Online take care of it. Your order will be live 24 hours and will automatically be executed if the market reaches the agreed rate, at which point you enter into a binding contract.
Different Order Types
Most frequently used Market Orders
Spot Limit Order
This is an order to sell one currency against another at a predetermined rate that is more favourable than the current market rate, therefore allowing you to capture positive market movements.
Stop Loss (Spot Stop)
This is an order to sell one currency against another at a predetermined rate that is less favourable than the current market rate. Stop Loss orders are typically used if you feel the market will move in your favour, but want to protect yourself against adverse market movements if it does not.
Other Market Orders
Spot OCO (One Cancels the Other)
This is a Spot Limit Order and a Stop Loss combined. Whichever rate is reached first will automatically cancel the other and a binding contract is created for the executed rate.
Forward Limit Order
This is an order to sell one currency against another at a predetermined rate that is more favourable than the current market rate, therefore allowing you to capture positive market movements. If the order is executed the contract is for delivery on a future date as specified by you.
Forward Stop Loss
This is an order to sell one currency against another at a predetermined rate that is less favourable than the current market rate, therefore protecting yourself against adverse market movements, while leaving open the potential to benefit from positive market movements. If the order is executed the contract is for delivery on a future date as specified by you.
How to place your order
