Time-in-force instructions determine how long an order remains active before automatic cancellation.
Valid only for the duration of the current trading session. This is the default instruction for most brokerages.
Remains active until executed or manually canceled. Most brokers impose a structural expiration (typically 30 to 90 days) on GTC orders.
Demands immediate, complete execution of the entire order quantity; if any part cannot be filled instantly at the specified price, the entire order is canceled.
Demands immediate execution of as much of the order as possible, canceling any remaining unfilled quantity. Unlike FOK, partial fills are accepted.
Requires that the entire order quantity be executed in a single transaction, but does not demand immediate execution.