What is a fill or kill order?

What is a fill or kill order?

Immediate Full Execution in Cryptocurrency Trading

A Fill or Kill (FOK) order is a conditional instruction that requires the transaction to be executed to its full amount at a set price immediately. It doesn't allow partial execution, and the order must be automatically canceled right away if any conditions are broken.

Brokers only use the fill or kill order to purchase large amounts of cryptocurrencies at a set price and time. This is because a slight price change can significantly impact the outcome of the trade when purchasing a large amount of crypto.

Pros
  • Allows you to execute large orders at a particular price.
  • All order executions are timely.
Cons
  • Very rigid and price changes can highly impact your trade.
How do I place a fill or kill order on Ndax?

Desktop

  • Login to Ndax
  • Click TRADE on the left-hand side of the screen
  • On the trade page, click BUY (Green button) or SELL (Red Button) on the right side of the screen
  • Click the small GREY ARROW in the upper left corner of the screen to pick the CRYPTOCURRENCY/CAD
  • Click the small GREY ARROW on the pop-up to display the dropdown list of Advanced trade orders
  • Click on FILL or Kill
  • Enter ORDER SIZE
  • Enter LIMIT OFFSET
  • Click PLACE BUY/SELL ORDER

Mobile Website

  • Login to Ndax
  • Click the Ndax SYMBOL on the top left-hand corner
  • Click TRADE from the dropdown menu
  • On the trade page, click BUY (Green button) or SELL (Red Button) at the bottom of the screen
  • Click the small GREY ARROW on the upper left corner and select the BTC/CAD pair
  • Select FILL or Kill
  • Enter ORDER SIZE
  • Enter LIMIT OFFSET
  • Click PLACE BUY/SELL ORDER

To learn more about Fill or Kill Orders, check out our blog:
Advanced Trading: Bitcoin Fill or Kill Orders