All-or-None Order
a.k.a. AON
An order that must be filled in full or not at all: no partial fills allowed.
In plain English
An order that must be filled in full or not at all: no partial fills allowed.
An all-or-none order says: give me the whole size or nothing. If you want 1,000 units and only 600 are available at your price, an AON order simply waits rather than taking the 600.
It protects you from ending up with an awkward half-position. Unlike a fill-or-kill, it does not have to be filled instantly; it can sit until the full size shows up or it expires. Retail forex platforms rarely offer it, but stock and options brokers often do.
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