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
What is a Limit Order?
Harry, OFXpert since 2019
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.
You should consider a Limit Order when you need to move money to your local bank account but you don’t need to convert it immediately. Instead you can wait for the right rate.
Businesses should consider a Limit Order when they have a target rate of exchange 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.
Limit Orders don’t require a deposit or advance payment.
If the order has already been triggered, the transfer is binding and you can’t cancel it.
However, if the target rate has not yet been triggered, you may be able to cancel. Please call us as soon as possible. We do not recommend emailing as in the time your email is processed there is a risk that the market could move and your target customer rate is reached, meaning your transfer will be binding. Alternatively, you may cancel your Limit Order in our online platform.
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You can call or email us, anytime. With offices in 8 countries, there’s always an OFXpert to help you, 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.