Orders & execution
Fill-or-kill
Also called FOK or All-or-none
An order that must execute in full immediately, or be cancelled entirely.
How it works
These order types exist to avoid partial fills. All-or-none waits for enough size; fill-or-kill demands the whole quantity at once and cancels if it cannot get it.
They matter most where a partial fill would leave a position that does not work — one leg of a spread, for instance.
Related terms
- Limit orderAn instruction to trade only at a specified price or better, accepting that it may never fill.
- Order bookThe live list of every outstanding buy and sell order, arranged by price.
- LiquidityHow quickly you can turn something into cash at a fair price, without moving the price against yourself.
More in Orders & execution
- Fractional shares
- Dollar-cost averaging
- Good-till-cancelled
- Day order
- Trailing stop
- Market order
- Time in the market
- Market timing
All 12 Orders & execution terms · The full glossary, 433 terms
Educational reference only. Nothing here is investment advice or a recommendation to buy or sell anything, and tax treatment depends on your own circumstances and the country you are in.