Forex glossary
Market order
A request to buy or sell under the instrument's execution mode and volume-filling policy. Sending a market order does not, by itself, confirm a price or a complete fill.
Illustrative example
How does it work in practice?
For a hypothetical instrument that permits IOC, a market request to buy 10,000 EUR fills 6,000 EUR and cancels the remainder. The confirmed purchase is 6,000 EUR; the unfilled 4,000 EUR has no execution price.
A case to work through
Market with FOK
MT5 model: the instrument permits FOK; request 900 EUR, total available 600 EUR, no other offers.
- FOK requires the entire requested quantity.
- The missing 300 EUR prevents execution in this model.
What follows? Check volume policy before interpreting an absent trade.
Example boundary: FOK availability and offer aggregation depend on the instrument.
A useful distinction
Market order / Limit order
A limit sets a price boundary; market follows the relevant execution mode and volume policy.
Check your understanding
Interpret a specific volume-filling policy.
Show the answer and explanation
0 EUR
The full quantity required by FOK is unavailable.
Orders, prices and execution quality
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Read the fuller explanation
Related terms
Sources and documentation
- MetaTrader 5: basic trading principles
Orders, deals and positions; FOK, IOC and partial-filling policies.
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The example illustrates the mechanism. Check current account conditions and instrument specifications with the provider.