Fill rate refers to the percentage of orders that are successfully executed at the desired price or better, relative to the total number of orders placed. In trading, a high fill rate indicates that most of the orders entered by traders are being processed and executed effectively. This metric is crucial for assessing the quality of execution provided by a broker or trading platform. Generally, a lower fill rate may suggest issues such as lack of liquidity or unfavorable market conditions, which can lead to slippage, where orders are filled at less favorable prices than expected.
