What is a fill in trading?
In one line: A fill is when your order actually trades. The fill price is the real price you bought or sold at, which can differ from the price you saw.
A simple example
The screen shows a stock at $25.00. You click buy with a Market order for 100 shares.
Your confirmation says: "Filled 100 @ $25.03."
That $25.03 is your fill price. It's what you actually paid. The 3-cent gap is Slippage plus the Spread you crossed. On 100 shares that's $3.
Now the same idea with a Limit order to buy at $24.95. It only fills if a seller meets you at $24.95 or better. You might get a better price, or no fill at all.
Filled, partly filled, not filled
- Filled: the whole order traded.
- Partly filled: only some of it traded. See Partial fill.
- Working / open: waiting for price to reach it.
- Cancelled / expired: it never traded.
Why it matters
Your real risk comes from your fill, not the price you hoped for. If your plan is "buy at $25.00, stop at $24.00," but you fill at $25.03, you're risking $1.03 a share, not $1.00.
That's small on one trade. Across many trades it adds up. Logging your real fill price in a journal shows you how much it costs you. Our trading journal guide has a free template.
A common mistake
Writing the planned price in your journal instead of the fill. Your results then look better than what happened. Always copy the price from the confirmation.
In a practice account, fills are often perfect. Real fills are messier, especially at the open or on news. Expect that gap when you move from practice to live.
Questions
What does "filled" mean on a stock order?
It means your order traded. The shares are bought or sold at the fill price shown in your order history.
Why did my order fill at a different price?
Market orders take the best price available at that moment, which may have moved since you looked. In fast markets the gap is bigger.
Why is my limit order not filling?
Price hasn't reached your limit, or it touched it but there weren't enough orders at that price for yours to trade. Orders at the same price queue up in time order.
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