Your order met, the deal is done:the fill's the price at which it's run.
The completion of an order to buy or sell a currency pair.
A fill occurs when an order has been executed at a specific price. Partial fills happen when only part of an order is executed.
In plain words
A fill is the moment an order becomes a trade: the order has been executed, at a specific price, for a specific amount. If only part of the amount could be executed, that is a partial fill, and the rest waits or is cancelled, depending on the terms of the order.
See it move
Stage 2 of 3: Price matched
Why it matters
Profit and loss are measured from the fill price, not from the price on screen when the button was pressed. In a fast or thin market the two can differ, and the difference is called slippage.
Worked example
An example only. The figures are round and invented for the arithmetic: they are not market prices.
A trader sends a market order to buy one standard lot with 1.1000 on screen, and it is filled at 1.1001 (invented figures).
- 1Price requested1.1000
- 2Price filled1.1001
- 3Slippage = 1.1001 − 1.1000 = 1 pip = 10 US dollars
The position is opened at 1.1001, and everything afterwards is measured from that price.
A common mistake
Sending an order is not the same as being filled. A limit order may never be filled if the price does not reach it, and a market order is filled at the price available, which may not be the one shown.
Check yourself
Educational information, not investment advice or a recommendation to trade.