Limit Orders

A limit order lets clients instruct OzForex to buy or sell one currency for another currency at a target rate that is better than the current market rate. Clients leave such orders with us to take advantage of exchange rate movements during the times at which they cannot monitor the rates themselves such as overnight market movements.

As foreign exchange markets are open 24 hours and volatility often occurs during overnight sessions, you may miss out on the best rates if you are unable to monitor movements all the time.

Orders can be left with any of our dealing staff and these are in turn left with our overnight traders. If the rate nominated is triggered overnight, you will be notified and asked to provide beneficiary details and organise timely payment to OzForex.

Orders that are triggered overnight become binding. You will be notified by phone and/or email if orders have been triggered.

When leaving a limit order with us, you must instruct us of the currency to sell, the amount to sell and the desired exchange rate. You also need to tell us for how long the order is valid (between 2 and 365 days in the future).

Business and private clients can leave orders - but generally the amount needs to be greater than AUD30,000 to be accepted. Please note that you need to speak to one of our dealers to be set up for Limit Orders. 

Contact us now or register free for instant online access to our dealing platform.

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IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

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OzForex provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.

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