MF
Minimum Fill Order

MF or Minimum Fill Order is an attribute attached to an order, so that a minimum number of shares has to be available for the trade to occur.

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 a MF or 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.

A minimum requested number of shares has to be available for the order to get triggered. If triggered it will continue as a limit order.

Suppose a buy order for 10000 shares has been made with a minimum request of 4000 shares. Then only if a minimum of 4000 shares are available for purchase, the order gets triggered. Otherwise the order remains waiting for the parameter to be fulfilled.

Once triggered, the order behaves as a normal limit order.

When to use a MF or Minimum Fill Order?

You choose MF or Minimum Fill Order when you want to buy or sell at least a minimum number of shares, otherwise you do not want to buy or sell at all. You do not want to trade lesser quantity than required.

Some brokers charge commission on per order basis. In case you order for 10,000 shares and you get only 50 shares, still you have to pay the full commission. This increases the cost of purchase.

This type of order is beneficial especially when you are buying penny stocks or low volume stocks.

If the order is not executed, it has to be placed again on the next day.

Compare MF or Minimum Fill Order with All or None order and other types of trading 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.
  • IOC Order
  • Immediate or Cancel is a conditional request made to the broker (or the system) to execute the transactions immediately or to cancel it.
  • 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.
  • 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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