A Limit Order offers the opportunity to buy at a price lower than the Current price. Also, you can request to make a sell at a higher price than the current market price. For example, If the current price offer of GBPJPY is at 160.360, you might price a limit order to buy at 159.090. On the other hand, if the current bid price of GBPJPY is 160.360, you can place a limit order to sell at 160.400.

On the other hand, a buy/sell stop order is required to deal with the market once the price gets less favorable. As a trader, you can place a stop order to buy at a much higher price than your current price. Alternatively, you can request to sell at a much lower price than the current market price.