Published on August 30th, 2021
The fill or kill (FOK) is a specific type of limit market order which tells the broker to execute the order immediately and entirely or not to fulfill it at all (kill it).
In other words, the order gives a choice to the market maker to fulfill all contracts immediately at a particular price or kill the order.
These orders usually pressure the market makers in their decision-making and in most cases, they get “killed,” not fulfilled.
When you use a standard buy order, you announce your willingness to buy a stock at a particular exchange rate and the broker executes the order when the stock reaches that particular price.