Immediate or Cancel (IOC) Orders

The Immediate-or Cancel (IOC) time in force applied to an order dictates that any portion of the order that does not fill immediately will be canceled.


The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.

Products Availability Routing TWS
Crypto US Products Smart Attribute
EFPs Non-US Products Directed Order Type
Forex Time in Force
View Supported Exchanges|Open Users' Guide


Immediate or Cancel Buy Order

Order Type In Depth - Immediate or Cancel Buy Order

Step 1 – Enter a Limit Buy Order with an Immediate or Cancel Time in Force

You want to buy 1000 shares of XZY stock but you want the order to fill immediately. You don't care if the entire order is not filled right away so you create a limit buy order and set the Time in Force to IOC (Immediate or Cancel). You transmit the order.

Step 2 – Buy Order for 1000 Shares Transmitted

You've transmitted your limit order with the time in force set to Immediate or Cancel. Any portion of the order that does not fill immediately will be canceled.

Step 3 – Part of the Order Fills Immediately, Rest of the Order is Canceled

Part of your order, 400 shares, is immediately filled at 10.40 per share. The rest of your order is canceled.

Action BUY
Qty 1000
Order Type LMT
Market Price 10.40
Limit Price 10.40
Time in Force IOC

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.

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