Currency exchange orders
To exchange currencies and cryptocurrencies automatically, you can set up limit and stop orders.
To do so in your Revolut app:
- Go to 'Home' on the bottom menu
- Below your balance, tap 'More'
- Tap 'Exchange'
- Tap 'Market order' in the top-right corner
- Choose 'Stop order' or 'Limit order'
For fiat currencies, orders won't be executed (regardless of the exchange rate) between 5pm on Friday New York time and 6pm on Sunday New York time to avoid mark-up fees.
Crypto orders are executed 24/7, 365 days a year.
Stop order
A stop order helps you buy or sell currency at a lower rate than the current market rate, but only when the exchange rate hits a specific level you set. This order type is often used to limit potential losses if the rate moves unfavourably. For example, if the current EUR to USD rate is 1.10, and you're worried it might fall, you could set a stop order to sell EUR at 1.09. This means if the rate drops to 1.09, your currency will be sold automatically to prevent further loss.
Limit order
A limit order is used to buy or sell currency at a better rate than the current market rate. You set a specific rate at which you want the order to execute. This type of order is useful if you believe the exchange rate will move in a favourable direction. For example, if EUR to USD rate is currently 1.10, and you think it'll improve, you might set a limit order to buy EUR at 1.11. Your order will only be executed if the rate reaches or exceeds 1.11, ensuring you benefit from the better rate.
Manage your currency exchange limit and stop orders
In your Revolut app:
- Tap 'Payments' tab on the bottom menu
- Tap the calendar icon in top-right corner
- Scroll down to find 'Orders'
You can't modify orders once they're set up. If you need to change an order, you'll have to cancel it and set up a new one. To cancel an order, select it and tap 'Cancel'.
For more information on why your order might fail, refer to this FAQ.