Fill An Order

When our request to buy a stock, bond, commodity, or other security is fulfilled.

An order can be filled a number of ways. The most common way is what most of us probably think of when we think about buying stocks: we buy something and then, voila, we own it. That’s what’s called a market order, and it’s filled as soon as we put the order in. It’s like the Taco Bell of buying securities.

But sometimes the instant gratification of a market order, whether it involves commodities or chalupas, isn’t always our best strategy. Which is why orders can also be filled based on buyer specifications—like if we say we want to buy a stock, but only if its price drops below a certain dollar amount—or on more complicated and fancy stuff like algorithms. Orders can be filled partially or in full, based on what our investment strategy is and how our broker handles our account. In other words, filling an order can be nothing like buying Taco Bell. And maybe that’s a good thing.