Name your exchange rate. We trade when the market gets there.
A limit order lets you set a target rate in advance. When the market reaches it, your trade is executed automatically, so nobody has to sit and watch the screens. FinXtra sets it up with you and executes it.
What is an FX limit order?
A limit order is an instruction to buy or sell a currency once the market reaches a rate you choose. You pick the currency pair, the amount and the rate. If the market gets there while your order is open, the trade goes through automatically. If it never does, the order simply stays unfilled, so a limit order is a way to try for a better rate, not a guarantee of one.
Who uses limit orders
How limit orders work with FinXtra
Limit order or forward contract?
A limit order waits for a rate you like, and the market may never reach it. A forward contract locks a rate today for a future date. Many clients use both: a forward to cover the part of the exposure they cannot leave open, and a limit order to try for a better rate on the rest. We help you pick the mix during your analysis.
Why set your rate with FinXtra
- Save time: no screens to watch and no alerts to chase.
- Protect your margins by naming the rate your budget needs.
- More control over your international payments and foreign currency exposure.
- Access to wholesale FX liquidity, usually reserved for large corporations.
- Transparent pricing and a dedicated adviser before and after onboarding.
Limit orders: common questions
What is a limit order in foreign exchange?
It is an instruction to trade a currency when the market reaches a rate you set. When it does, the trade is executed automatically.
What happens if the market never reaches my rate?
Nothing is executed and the order stays unfilled. A limit order does not guarantee your rate will be reached. If you must pay by a fixed date, ask us about combining it with a forward contract.
Do I need to watch the market?
No. Once your order is in place, it is monitored for you and executed when your rate is reached.
How is a limit order different from a forward contract?
A limit order waits for a rate and may not execute. A forward contract locks in a rate today for a future date, so you know what you will pay or receive.
How long does a limit order stay open?
You choose. An order can be good till cancelled (GTC), or it can expire at the end of the day or the end of the month.
Which currency pairs can I use?
Limit orders are available on all major currency pairs and many others. Ask your adviser whether the pair you need is eligible, and we confirm it during your free analysis.
How are funding and settlement handled?
Funding and settlement are agreed before your order is booked, so there are no surprises when it fills. You are notified electronically as soon as the order is filled.
Are there account opening fees?
Opening an account is completely free, and you get full access to the platform.
Is FinXtra regulated?
FinXtra works with Ebury, which provides the payment and foreign exchange services. Ebury Canada is registered with FINTRAC, and all client funds are held with Ebury Canada in line with regulatory standards. See the regulatory disclosure at the bottom of this page for the US, UK and Mexico.
A limit order does not guarantee that a trade will be executed. Execution depends on the market reaching your rate before the order expires and on the terms agreed with our partner. This page is general information, not financial advice.
See whether a limit order fits your payments
Book a free 20-minute FX analysis. We review how you pay and get paid today and show you your options, at no cost and with no commitment.
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