Limit Orders

A limit order lets clients instruct NZForex 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 NZForex.

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 NZD30,000 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 service is provided by NZForex Limited (CN: 2514293). NZForex is registered as a financial service provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

The information on this website does not take into account the investment objectives, financial situation or needs of any particular person. NZForex makes no recommendations as to the merits of any financial product referred to in this website.

Please read our Product Information document for a detailed explanation of the services we provide.