Immediate or Cancel (IOC) - Forex Glossary | ForexCracked
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Immediate or Cancel (IOC)

Also called: IOC

Fill as much as possible immediately at the specified price; cancel whatever isn't filled.

01

Definition

IOC is FOK’s looser cousin: any amount that can fill immediately at your price does; the rest is cancelled rather than left as a working order.

Useful for ECN/DMA traders who want to take available liquidity at a price without leaving a footprint in the book.

02

Example

You IOC-buy 50 lots at 1.0800. 30 lots fill immediately at 1.0800; the remaining 20 are cancelled (rather than left working).