All-or-None Order (AON) in Forex
A clear definition of All-or-None Order (AON), with practical context for reading markets and making better trading decisions.
Definition
Definition
An All-or-None (AON) order requires the entire requested quantity to be executed; partial execution is not acceptable. If the full size cannot be filled under the order's price conditions, the order remains unfilled or is handled according to the venue's rules.
How It Works
Orders are instructions, and their exact behavior depends on the conditions attached to them: price, quantity, timing, and what should happen if execution is only partly available. Before confirming an order, read the order type and validity fields rather than assuming every instruction behaves like a market order.
Why It Matters
This matters because two orders aimed at the same market can produce very different outcomes. Level 2 treats order mechanics as a safety skill: configure the instruction you actually intend, then review it before submission.
Key Takeaway
An All-or-None (AON) order requires the entire requested quantity to be executed; partial execution is not acceptable.
Practical forex example
Why All-or-None Order (AON) matters
Understanding All-or-None Order (AON) helps traders interpret market information, plan decisions, and manage risk with more context.
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