Time in force is a special instruction used when placing trade to indicate how long an order will remain active before it is executed or expires. These options are especially important for active traders and allow them to be more specific about the time parameters.
There are three type types of TIFs on our platform: Good Til Canceled, Immediate or Cancel, Fill or Kill
Good Til Canceled
A Good Till Canceled (GTC) order is an order to buy or sell at a specified price which remains in effect until executed or cancelled by the investor.
In other words, a GTC order will continue indefinitely until the specified parameters are met.
Immediate or Cancel
An immediate or cancel order (IOC) is an order to buy or sell a security that must be immediately filled and any unfilled portion of the order is canceled.
Fill or Kill
Fill or kill (FOK) is an order type specifying to execute a transaction immediately and completely or not at all.