Currency Limit Order
Target your ideal exchange rate with a Limit Order
Remove the stress of having to watch the currency markets 24/7. Limit Orders work overtime, so you don’t miss out on market movements in different time zones.
What is a Limit Order?
A Limit Order is an FX tool to help you move money at your ideal exchange rate. Great for moving money if you don’t need to convert it immediately. It can be used as part of a currency plan to help achieve your target rate and stay in budget, or in conjunction with other tools to help protect against currency risk.
Lock in your ideal great rate with OFX Limit Order for up to 6 months. If the rate hits, your target rate will be secured.
The benefits of a Limit Order with OFX
Secure
We’re regularly audited and are regulated by over 50 regulators globally
24/7 service Real human service and support when you need us.
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.
Achieve a target rate
Our specialists can work with you to understand if your ideal exchange rate could be achieved in time.
Limit Orders work overtime, so you don’t miss out on favourable market moves in different timezones.
No time to watch the 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’ll finalise your order and notify you.
Once we have received your funds, the transfer to your nominated recipient will be actioned.
Ready to create your first Limit Order? Open your FREE account today.
Limit Orders FAQs
Are there any downsides?
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.
When are Limit Orders used?
Limit Orders* let you target an exchange rate that suits you 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 but don’t need to convert it immediately. Instead, you can wait for your desired rate. Optimise your FX and wait for a better rate.
For more information, feel free to reach out to our specialists.
*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.
What does it cost to set up a Limit Order?
Limit Orders don’t require a deposit or advance payment.
Can I cancel a Limit Order?
Your Limit Order can be cancelled or changed anytime before your target rate is reached. You can do so by logging in to your OFX Account online, or by contacting our OFX specialist on the 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.sxz
Built with your security in mind
We use a multi-layered approach to help prevent and detect fraud on your account, including monitoring payments and logins for suspicious activity.
Our 25+ year business was built on secure global payments. We’ve held an Australian Financial Services (AFSL) for 25+ years and are regulated by ASIC and AUSTRAC, with security experts in offices around the world.
Have a question? Need some help?
We provide 24/7 client service and support. Email us or call us anytime. We are here to help.
