IOC
Immediate or Cancel

IOC or Immediate Or Cancel is an attribute attached to a buy or sell order.

After you create your 'Trading Action Plan', based on your own technical or fundamental research, next step you are going to take is, placing your order with your broker. Before you can start buying and selling stocks, you must know the different types of orders. You must be aware as to which order is appropriate and its implications.

What is IOC Order or Immediate Or Cancel Order?

It is a conditional request made to the broker (or the system) to execute the transactions immediately or to cancel it.

It may be a market order. Then the transactions will be carried out immediately if the number of shares in demand are available. If not the order will be canceled.

It may be a limit order. Then the transactions will be carried out immediately if the number of shares in demand are available at the required price. If not the order will be canceled.

IOC order may fill completely or partially, or it may not fill at all. In any event, the order will not stay in the system.

When to use IOC Order?

This attribute is especially used by scalpers. They will be using hundreds of orders in a day. They want their orders to be executed immediately. Otherwise they do not want their orders to be in the system.

The decision to buy or sell a stock at a price keeps changing fast with the time. What may be a buying price now, may be a selling price a little later. Scalpers will not have time to manually cancel the order, in case they do not want them to be there.

    Compare IOC Order with other type of orders:


  • All or None Order
  • It is a conditional request made to the broker (or the system) to buy or sell a required number of shares at particular price, only if full quantity of shares are available.
  • GTC Order
  • It is a conditional request made to the broker (or the system) to keep the order in system until it gets executed or canceled.
  • GTD Order
  • It is a conditional request made to the broker (or the system) to keep the order in system until it gets executed or till a predetermined date.
  • Limit Order
  • Limit Trading Order is a conditional request made to the broker (or the system) to buy or sell a stock at a particular price or at a better price.
  • Market Order
  • Order to buy or sell at market is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price.
  • Stop Loss Order
  • Order at stop is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price, once the price crosses a predetermined trigger price.
  • Stop Limit Order
  • Order at stop limit is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price, once the price crosses a predetermined trigger price but with in a predetermined limit price.
  • Minimum Fill Order
  • This is a conditional request made to the broker (or the system) to execute the transactions only when a minimum number of shares are available.
  • One Cancels Other Order
  • This is a conditional request made to the broker (or the system) to execute one of the two orders, which ever meets the required parameter first, and cancel the other.
  • Market on Close Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at the closing price.
  • Limit on Close Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at the closing price but with in a limit price.
  • Market on Open Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market opening price.
  • Limit on Open Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market opening price but with in a predetermined limit price.
  • Market If Touched Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market price only after the stock trades at particular predetermined price.
  • Iceberg Order
  • This is a conditional request made to the broker (or the system) to buy or sell a large required quantity of stock, but in smaller predetermined quantity.
  • Fill or Kill Order
  • This is a conditional request made to the broker (or the system) to execute the transactions only if the full quantity of shares are available, or else to cancel the order.
















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