What is Time-In-Force?

An order's time-in-force option determines the time frame in which the order would execute.

There are four different time-in-force options you can choose from within the Entry Order or Market Order window in Trading Station:

  1. Day – activates your Entry Order for the current trading day only
    • Day Entry Orders cancel automatically at 5 pm ET (New York).
  2. GTC (Good ‘Til Canceled) – ensures that your entire order is executed
    • GTC orders may be broken up into partial orders if sufficient liquidity is not available to fill the entire order at the best available price.
  3. IOC (Immediate or Cancel) – fills as much of your order as possible at the best available price
    • If the entire order cannot be filled at the best available price, the remainder cancels.
  4. FOK (Fill or Kill) – when you want your entire order filled at the best available price
    • If the entire order cannot be filled at the best available price, the entire order cancels (no partial orders).