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An order that must be filled completely and immediately, or it's canceled entirely.
Why It Matters
Fill or Kill orders are for traders who need all-or-nothing execution. If you're buying 10,000 shares and only 5,000 are available at your price, a FOK order cancels entirely rather than leaving you with a partial fill. This matters for large orders or illiquid stocks where partial fills at different prices can hurt your average. Most regular investors never need FOK orders.
Key Points
- Used mainly by professional traders and institutions
- Prevents partial fills that might not be worth the commission/hassle
- Related: Immediate or Cancel (IOC) fills what it can, cancels the rest
Related Terms
Common Questions
An order that must be filled completely and immediately, or it's canceled entirely. Fill or Kill orders are for traders who need all-or-nothing execution. If you're buying 10,000 shares and only 5,000 are available at your price, a FOK order cancels entirely rather than leaving you with a partial fill.
Fill or Kill orders are for traders who need all-or-nothing execution. If you're buying 10,000 shares and only 5,000 are available at your price, a FOK order cancels entirely rather than leaving you with a partial fill. This matters for large orders or illiquid stocks where partial fills at different prices can hurt your average. Most regular investors never need FOK orders.
Used mainly by professional traders and institutions
Prevents partial fills that might not be worth the commission/hassle
Related: Immediate or Cancel (IOC) fills what it can, cancels the rest