Investing term

What is Time in force?

How long an order stays active: day (expires at close), GTC (good-till-cancelled), or IOC (immediate-or-cancel).

Time in force tells your broker how long an order should stay active. "Day" expires at the market close if unfilled; "GTC" (good-till-cancelled) persists across days until it fills or you cancel; "IOC" (immediate-or-cancel) fills what it can right away and drops the rest. Choosing the right one controls how long your resting order keeps trying.

For example

Set a limit buy as GTC and it keeps waiting for your price for weeks; set it as "day" and it quietly expires unfilled at tonight's close.

Time in force is taught hands-on in Stage 7 — Brokers, Accounts & Getting Started.

See the lesson →

Related terms

Account statementThe monthly or quarterly document summarising your account activity, balances, and realized gains.BrokerThe licensed firm you go through to buy and sell investments on an exchange.Brokerage accountThe account you open at a broker to hold your investments.CommissionThe per-trade fee some brokers charge to execute an order.
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