Limit orders enable you to create a conversion order that will only be executed if the conversion rate reaches a target rate set by you. You can create a limit order for any currency pair supported by Airwallex and your limit order can be valid for up to 90 days. You can edit or cancel a limit order at any time before it is executed or expires.
When is my limit order executed?
Your limit order will be executed as soon as the conversion rate reaches the target rate you set. If this occurs, a conversion will be created immediately at your target rate.
If the conversion rate reaches your target rate and you don’t have the limit order amount in your Wallet in the From currency (also known as the sell currency), your limit order will fail to execute. You will be notified by email that the limit order has failed and can then fund your and Wallet balance and create a new conversion or limit order.
How can I create a limit order?
Step 1: To initiate a limit order, please proceed to the Conversions page located under the Wallet section on the left-hand side menu.
Step 2: You can create a limit order by choosing New conversion, and then choosing to create a limit order at the top of the conversion page.
You can also create a limit order directly from the Limit Orders page, where you will be able to see the details of your Limit Orders.
Step 3: Select your desired currencies by clicking on the currency in the “From” and “To” fields, and then enter your desired amount in either the “From” field or “To” field. Next enter your desired exchange rate in the “Target rate” field. When you do this, the amount in the other currency will be calculated. You will also see your target rate on a chart of the rate over the past 30 days. This can be changed to 60 or 90 days if desired.
By default, your limit order will expire in 90 days. If you would like your limit order to expire sooner, choose a different date by clicking on the “Expiry” date.
Step 4: When you click next you will be shown the details of your limit order to review. Review and confirm your limit order.
What happens when my limit order is executed?
When the conversion rate reaches your target rate, your limit order will be executed and a conversion will automatically be created and settled. This conversion will be shown in your conversion list and you can also see the details on the limit orders page. To see more details, click the Conversion ID.
How do I cancel a limit order?
To cancel a limit order, navigate to the Conversion section under the Wallet, and then choose the Limit orders page.
Select the limit order that you want to cancel and then click “Manage limit order” in bottom right and choose “Cancel”. After selecting “Cancel” you will be shown a confirmation which needs to be completed before the limit order is cancelled.
How do I edit a limit order?
Step 1: To edit a limit order, navigate to the Conversion section under the Wallet, and then choose the Limit orders page.
Step 2: Select the limit order that you want to edit and then click “Manage limit order” in the bottom right and choose “Edit”.
Please be aware that your limit order will not be deactivated during the editing process and changes are not final until you complete editing.
Step 3: After selecting “Edit” you will be shown a similar form to the one you used to create the limit order. Here, you can edit the details of the limit order. Click “Next” to review the details of your changes.
Step 4: You will be shown a side-by-side comparison of the current details of the limit order and the edited details. Review the changes and then click “Confirm” to confirm the changes to the limit order.