Orders & execution
What is an Immediate-or-Cancel (IOC) order parameter?
By Easy Money Scanner · Educational reference · Not investment advice
The short answer
An Immediate-or-Cancel (IOC) order requires that any portion not immediately filled be canceled, allowing partial fills while eliminating unfilled remainder from sitting on the order book.
How it works
IOC orders are commonly used by active traders who want immediate execution of available shares without waiting for the rest of the order to fill later at a different price.
An example
A trader submits an IOC order for 1,000 shares; 600 fill immediately and the remaining 400 are automatically canceled rather than left pending.
Risk & limitations
IOC orders can result in only partial execution, leaving a trader with a smaller position than intended if full liquidity isn't available instantly.
Examples are hypothetical, not trade recommendations. US contract and regulatory references do not automatically apply in Canada. Rules, margin requirements and broker policies can change; confirm them with the relevant authority and your broker.