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How market orders work
A market order is an automated instruction to buy or sell currency once the market hits a pre-determined rate. It’s a way to capture favourable moves without needing to watch the market or order transactions outside of your typical working hours.
Requesting a target rate is no guarantee it will be reached. But if it is, we guarantee execution.
Types of market order
- Limit Order: You set a target rate above current market levels. When the market reaches your target, the trade executes automatically. This is used when you believe the rate will improve and want to capture the upside.
- Stop Loss Order: You set a minimum acceptable rate below current market levels. If the market falls to that level, the trade executes automatically, protecting you from further deterioration. Think of it as a floor beneath your exposure.
When to use market orders
Market orders are particularly useful for Australian businesses that don’t need to make an international payment immediately but know they will need to at some point. They complement forward contracts and options as part of a broader hedging strategy, allowing you to layer in additional protection or capture aspirational rates without constant market monitoring.
Your account manager will help you set realistic target levels based on current market conditions, technical analysis and your budgeted rate.
What makes us different
SmartHedge PRO
SmartHedge PRO is our currency management platform that makes tracking exposures simpler than ever. Developed and tested to address pressing challenges growing companies face, SmartHedge PRO offers automated solutions that allow business to spend less time pouring over spreadsheets and more time making the decisions that matter.
How we work
Trading with us is simple
Follow our streamlined steps to navigate currency markets effortlessly.
Open an account
Opening an account with Smart Currency Business is simple.
Quick and easy
Complete the enquiry form below, or give us a call.
Guided process
Our team will be happy to guide you through the process.
Frequently Asked Questions
What is a currency market order?
A market order is an automated instruction to buy or sell currency once the market hits a pre-determined rate. It allows your business to target an aspirational price, with the trade executed automatically the moment that rate is reached.
What is the difference between a Limit Order and a Stop Loss Order?
A Limit Order targets a more favourable rate than the current market, capturing upside movements. A Stop Loss Order sets a minimum floor rate to protect your business from significant adverse moves.
Do I need to pay for a market order upfront?
No. There is typically no upfront cost to place a market order. The trade is only settled once your target rate is reached and the transaction is executed.
What happens if my target rate is never reached?
The trade is not executed. You can maintain the order indefinitely or set an expiry date. Your account manager will help you adjust the strategy if market conditions change.
