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Crypto Terms:  Letter F

What is Fill Or Kill Order (FOK)?

Meaning:
Fill Or Kill Order (FOK) - a buy or sell order that will be rejected if it isn't completed right away.
easy
2 minutes

Let's find out Fill Or Kill Order (FOK) meaning, definition in crypto, what is Fill Or Kill Order (FOK), and all other detailed facts.

"Fill or Kill Order" (FOK) alludes to the concept that an order must be completed right away or it won’t be fulfilled at all. It's similar to the "All or None" (AON) order type.

AON is an order that must be filled completely or not at all. The difference between these two is that FOK focuses on the immediate point in time, whereas AON doesn’t.

When a trader doesn’t want to accept incomplete asset delivery, he or she will probably use FOK orders. This could be the case when a trader has a limited time to fill orders on separate and unrelated markets.

A FOK order allows the trader to place numerous orders and wait for one to be fully performed. This way the trader avoids the possibility of receiving partial fills. The trader can cancel the remaining orders after one of them has been completely filled.

To give you an example, imagine that Anna needs 2,000 units of a specific crypto asset ASAP. Yes, she could simply place numerous buy orders to collect those 2,000 assets that she needs. However, the time is not in her favor because she needs to collect it as quickly as possible. Thus, this would not be a wise decision to make.

However, she can place multiple FOK orders for 2,000 desired assets in various exchanges. By doing that, Anna only needs to pay for the assets if she receives the 2,000 units she desires. Besides, this way she will be able to reject any order that is not fully filled.