Glossary

Immediate or cancel

Order types

Immediate or cancel fills what is available at once and cancels the rest.

Explanation

MetaTrader 5 says the trader accepts a fill up to the volume stated, and any remainder is cancelled. The server decides whether the policy is available. CME uses the name fill and kill for an order that is executed immediately against resting quantity, with any unfilled quantity cancelled. That is the same family of instruction under another label. It is different from fill or kill, which cancels the whole order if the full volume cannot be done. MetaTrader 5's table allows immediate or cancel in market execution and exchange execution, not in instant or request execution.

This page explains published terms for education and reference. It is not financial, investment, tax, or trading advice, and it does not recommend a firm, product, or strategy.

Related terms

Sources and last check

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