Target an exchange rate that suits you or your business with a Limit Order
Don’t miss out on your target rate
- Set a target rate for your transfer and, if it’s reached, we’ll help get your money moving
- Place a Limit Order for up to 6 months and whenever the rate hits, your target rate will be secured
- Limit Orders work overtime, so you don’t miss out on favourable market moves in different time zones
- Use as part of a currency plan to help achieve your business’s target rate and stay in budget
- Can be employed in conjunction with other tools to help protect against currency risk
- Our OFXperts can help you understand recent trading ranges so your target rate is realistic
If you book a Limit Order, it may mean losing out if the market rate continues to move above your target rate. Read more. There is no guarantee that your desired rate will be reached.
Considerations
Your transfer will be completed at the target rate however, the exchange rate could continue to move above your target rate, meaning that you could have achieved a better rate of exchange.
The market may never reach your desired rate, meaning it could have been better to transfer earlier to meet your time and budget goals.
Limit Orders* let you target an exchange rate that suits you or your business for up to 6 months. Because OFX is open 24/7, our system will lock in the Limit Order and send a deal confirmation once the target rate has been achieved.
Limit Orders often work best for individuals that need to move money to a local bank account but don’t need to convert it immediately. Instead, you can wait for your desired rate. Limit Orders also work best for businesses that have a target exchange rate in mind for an overseas payment or receivable but don’t need to pay or convert it right away. Optimise your FX and wait for a better rate.
For more information, feel free to reach out to an OFXpert.
*If you book a Limit Order, it may mean losing out if the market rate continues to move above your target rate. There is no guarantee that your desired rate will be reached. Once the order is triggered, the transfer is binding and cannot be cancelled.
Limit Orders don’t require a deposit or advance payment.
Your Limit Order can be cancelled or changed anytime before your target rate is reached by contacting an OFXpert by phone.
Please note: once your Limit Order target rate is reached, the deal is booked and guaranteed for you. This means the deal becomes legally binding when the market hits your target rate and OFX cannot cancel the Limit Order.
If you book a Limit Order, it may mean losing out if the market rate continues to move beyond your target.
Ready to get started? Or have a question?
You can call or email us, anytime. With offices in 9 countries, there’s always an OFXpert to help you when you need, 24/7.
Achieve a target rate for your business
If you have a target rate of exchange in mind in order to meet your budget, consider an OFX Limit Order. Our OFXperts will help you understand if that rate could be achieved in time. Then you can get back to your business.
Wait for the right rate
No time to watch FX markets? If you don’t need to transfer right away, consider an OFX Limit Order. Tell us how much you want to send and your ideal rate. If your target customer rate is achieved, we will finalise your order and notify you.
Once we have received your funds, the transfer to your nominated recipient will be actioned.
Talk to an OFXpert. You’ll feel currency confident in no time.