Orders & ExecutionRe-quotePrice Rejection
Requote
A broker's response offering a new price when the price the trader clicked is no longer available.
What Requote means
A requote arises under the instant execution model. The trader clicks a displayed price, the request travels to the broker, and by the time it arrives the market has moved beyond the tolerance the broker is willing to honour. Rather than filling at the stale price or applying slippage, the broker returns a fresh quote and asks the trader to accept or decline it. Nothing is executed until the trader responds, and in a fast market the new price can itself expire.
Requotes are therefore the instant-execution counterpart of slippage: the same underlying latency and price movement produce a rejection here and an adjusted fill price under market execution. Their advantage is that the trader is never filled at a price they did not explicitly approve. Their disadvantage is that during exactly the moments when getting filled matters most, such as a data release or an accelerating breakout, requotes can chain and leave the trader unable to transact.
Frequent requotes on ordinary orders in liquid pairs are a legitimate reason to question a broker's pricing, since they can indicate a quote feed that is systematically behind the market. Traders can reduce them by using market execution accounts, by setting an explicit deviation tolerance where the platform allows it, and by avoiding market orders in the seconds surrounding scheduled announcements.
Worked example
A trader clicks to buy EUR/USD at 1.08515 during a data release; the broker responds with a requote at 1.08532, which the trader may accept or decline, and no position exists until that choice is made.
Related terms
- Instant ExecutionAn execution model in which the trader requests a specific displayed price and the broker fills or requotes.
- Market ExecutionAn execution model in which orders are always filled at the best available price, with no requotes.
- SlippageThe difference between the price a trader expected on an order and the price at which it was actually executed.
- Market OrderAn instruction to buy or sell immediately at the best price currently available in the market.
- Spread WideningA temporary expansion of the bid-ask spread caused by reduced liquidity or elevated volatility.
Frequently asked questions
What does Requote mean in forex trading?
A broker's response offering a new price when the price the trader clicked is no longer available.
How does Requote work in practice?
Requotes are therefore the instant-execution counterpart of slippage: the same underlying latency and price movement produce a rejection here and an adjusted fill price under market execution. Their advantage is that the trader is never filled at a price they did not explicitly approve. Their disadvantage is that during exactly the moments when getting filled matters most, such as a data release or an accelerating breakout, requotes can chain and leave the trader unable to transact.
What is an example of Requote?
A trader clicks to buy EUR/USD at 1.08515 during a data release; the broker responds with a requote at 1.08532, which the trader may accept or decline, and no position exists until that choice is made.
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