Time in force (GTC, IOC, FOK)
Also called: TIF · GTC · IOC · FOK
Definition
Time in force is an order setting that controls how long an order stays active and how it handles partial fills, with common options GTC (good till cancelled), IOC (immediate or cancel) and FOK (fill or kill).
This entry is shown in English.
How Time in force works
GTC is the default on most exchanges. The order stays in the book until it fills completely or you cancel it, though some platforms auto-expire very old orders. It is the right choice for patient limit orders.
IOC fills whatever it can immediately at your price or better and cancels the rest. If you want 10 coins and only 6 are available at your limit, you get 6 and the remaining 4 disappear instead of waiting. FOK is stricter: the entire order must fill immediately, or nothing fills at all.
IOC and FOK are useful when you want an immediate result with price control, such as entering only if enough size is available, or arbitrage trades that only make sense at full size. Some exchanges also offer GTD (good till date) or post-only as a time-in-force option. Labels and choices vary, so check your order panel.
Example
Suppose the ask side shows 3 BTC at 64,000 and 2 BTC at 64,050 USDT, and you send a buy limit for 4 BTC at 64,000. As GTC, you get 3 BTC now and 1 BTC waits in the book. As IOC, you get 3 BTC and the last 1 BTC is cancelled. As FOK, nothing fills, because only 3 BTC is available at 64,000 or better and the order needs all 4.
Common mistakes
- Leaving old GTC orders open and forgetting about them until they fill unexpectedly.
- Using FOK on a thin market and wondering why nothing ever fills.
- Assuming IOC keeps the unfilled remainder in the book.
Learn and practise
FAQ
What does GTC mean in crypto trading?
GTC means good till cancelled. The order stays open until it fills or you cancel it.
What is the difference between IOC and FOK?
IOC fills any available part immediately and cancels the rest. FOK fills the whole order immediately or cancels it entirely.
Which time in force should beginners use?
GTC for normal limit orders is usually fine. Just review your open orders regularly.