Fill or Kill
What is a Fill or Kill Order (FOK) in Trading?
A Fill or Kill order (often shortened to Fill or Kill) is a type of trading instruction that requires an order to be executed immediately and in full. If the entire order cannot be filled at once, it is canceled automatically.
In simple terms, what does Fill or Kill mean? It means “all or nothing.” The trade must go through instantly for the exact size you request, or it won’t happen at all. For example, if you place a Fill or Kill order to buy 100 lots of EURUSD, you will either receive all 100 lots right away, or the order will be canceled.
This type of order is sometimes casually called Fill and Kill, but the proper term is Fill or Kill order.
Why Use a Fill or Kill Order?
- Avoid partial fills → You either get the full order size or nothing at all.
- Save time → No waiting for the rest of the order to be matched later.
- Control execution → Helpful in fast-moving markets or when order size is important.
Other Glossary Terms
F
- Forex
Forex, short for foreign exchange, is a global 24-hour marketplace where banks, businesses, and individuals buy and sell currencies, determining their relative values through continuous international trading.
- Floating Loss
Floating loss is the unrealized loss on an open trade that changes with market movement and becomes final only when the position is closed, reflecting potential current loss.
- Fundamental Analysis
Fundamental analysis in forex studies a country’s economic and political factors like interest rates, inflation, and growth to predict whether its currency will strengthen or weaken against others.
- Funded Account
A funded account is a trading account provided by a prop firm that lets skilled traders use the firm’s capital after proving risk management ability, allowing access to larger capital with limited personal risk.
- FOMC
The FOMC, or Federal Open Market Committee, is part of the U.S. Federal Reserve that sets interest rates and controls money supply to guide the U.S. and global economy.
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