To cancel a trade or order that has been placed, but not filled. A trader or investor may desire to kill an unfilled order when the market has moved against him or her (or merely because he or she has changed his or her mind), especially if the order is a market order rather than a limit order. Given the split seconds with which orders are executed today, a kill command needs to be sent almost instantly after the buy or sell order has been transmitted. Even then, there is no guarantee that the original order will be killed.


It may be especially difficult to kill unfilled orders in volatile markets with heavy volumes. This is because exchanges are sometimes unable to handle exceptionally heavy volumes; in such situations, the trader may be unable to receive confirmation of whether his or her original order was filled, or whether it has been killed. Note that the trader or investor is liable for the order once it has been filled.

  1. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  2. Day Order

    An order to buy or sell a security that automatically expires ...
  3. Stop Order

    An order to buy or sell a security when its price surpasses a ...
  4. Order

    An investor's instructions to a broker or brokerage firm to purchase ...
  5. Fill Or Kill - FOK

    A type of time-in-force designation used in securities trading ...
  6. Market Order

    An order that an investor makes through a broker or brokerage ...
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  1. How do I place an order to buy or sell shares?

    It is easy to get started buying and selling stocks, especially with the advancements in online trading since the turn of ... Read Full Answer >>
  2. How do I set a strike price in foreign exchange trading?

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  3. How do I place a buy limit order if I want to buy a stock during an initial public ...

    During an initial public offering, or IPO, a trader may place a buy limit order by choosing "Buy" and "Limit" in the order ... Read Full Answer >>
  4. Are stop orders only used for stocks?

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  5. Should I enter a limit order to buy a position with a bid and ask that are far apart?

    You face the risk of losing the spread in a security with a bid and ask that are far apart when you enter a market order. ... Read Full Answer >>
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