Partial fill

A partial fill occurs when an order placed for a specific quantity of an asset is executed only for a fraction of that quantity. This happens when there is insufficient liquidity at the requested price to complete the entire order at once. The available volume is filled immediately, and the unfulfilled portion of the order may remain active or be cancelled based on the order type and broker's execution policy.

For retail traders, partial fills can result in an average entry price different from the initial target if the remaining order is filled at varying rates. It may also lead to multiple transaction fees if the broker charges commission per filled segment. Traders should be aware of their broker's partial fill policy and monitor order statuses to manage potential cost implications and execution risks.