Fill or Kill Order

A fill or kill (FOK) order is a specific type of trading instruction used in financial markets, including cryptocurrency exchanges. It requires that the entire order be executed immediately at the specified price or be canceled entirely. Traders use fill or kill orders when they want to avoid partial executions and only wish to complete the entire transaction in one go. If the order cannot be fully filled at the desired price, it is canceled and no part of the order is executed.

This type of order is beneficial for traders who require precision and speed, particularly in volatile markets where prices can fluctuate rapidly. Fill or kill orders prevent traders from receiving only part of their desired quantity, which can affect their strategy, especially when trading in large volumes or during high volatility.