What a requote is (in plain terms)
A requote is a message from your broker telling you that the price you tried to trade at is no longer available. In practice this happens when you click to open or close a position at what looks like the current market price, but by the time the order reaches the broker the market has moved. Instead of filling your trade at the original price, the broker offers a new price and gives you the choice to accept the revised quote or cancel the order. That prompt — the “requote” — is simply a notification that the earlier quote has changed.
How requotes happen — step by step
When you press Buy or Sell on your trading platform the order follows a short chain: the platform sends the request to your broker, the broker checks available liquidity in its pricing feed or with liquidity providers, and the broker tries to execute the order. Because FX prices change continuously, a few milliseconds — or longer if there are delays — can be enough for the price to move. If the broker cannot fill the order at the exact price you requested, they may send you a new quote. The platform usually shows the updated price and a button to accept or reject it; if you do nothing the trade is typically cancelled.
For example, imagine EUR/USD is quoted at 1.1200/1.1203 and you click Buy at 1.1203. By the time the order reaches the broker the best available ask might be 1.1208. If your account uses “instant execution,” the broker will show a requote offering 1.1208 rather than filling at 1.1203. You can accept and trade at 1.1208 or cancel and try again.
Why requotes occur
There are a few common causes that make requotes more likely. Fast-moving markets — such as when a major economic release arrives — can change prices in an instant. Low liquidity can mean there aren’t enough counter-parties at the price you want, so the broker has to source a different one. Large order sizes may require broker confirmation and thus more time, increasing the chance the price shifts before execution. Finally, technical delays on the trader’s side (slow internet), the broker’s servers, or between the broker and its liquidity providers also raise the odds of a requote.
Requote vs slippage — what’s the difference?
Requotes and slippage are both outcomes of price movement during order execution, but they behave differently. A requote interrupts the process and asks whether you accept the new price. Slippage happens when the broker fills the order at the next available price without asking — you get filled at a price that differs from your requested price. Some execution models and account types are more likely to produce one outcome versus the other: instant-execution models commonly produce requotes, while market- or ECN-style execution more often results in slippage.
It’s important to understand that “no requote” marketing does not mean prices will never move; it typically means the broker is unlikely to pause and ask you — but you may still experience slippage (an execution at a different price).
Practical examples
A typical scenario where requotes show up is during the release of the U.S. non-farm payrolls. Traders often place market orders right before or after the print. The sudden burst of orders and price jumps mean a broker may not be able to accept the original price and will offer a new one. Suppose a trader tries to buy GBP/USD at 1.3050 and receives a requote at 1.3060 — that 10-pip difference can change the trade’s risk/reward profile and decide whether the trader proceeds.
Another example is a large institutional-sized order. If a retail-size trader’s platform routes a very large submitted volume to a liquidity provider, the provider may need time to fill or may only have partial liquidity. The broker then requotes an adjusted price or asks the trader to confirm.
How to reduce the chance of requotes
There are several measures traders can use to reduce requotes, although none can eliminate them completely. Many traders prefer limit orders or pending orders when they need a specific price — these only execute at the price you set (or better) and avoid the interactive requote step. Trading during calmer market hours rather than around major news releases cuts the risk of rapid price movement. Choosing an execution model and broker with transparent execution statistics, low latency, and access to multiple liquidity providers also lowers the probability of requotes. Technical steps such as using a VPS near the broker’s servers and ensuring a reliable internet connection help too.
Platforms usually offer execution-related settings; for example, in some platforms you can set a maximum allowable deviation so your order will automatically accept a small difference instead of generating a requote. Use these tools cautiously because automatically accepting a large deviation may produce fills well away from your intended level.
What to look for in a broker
If requotes become frequent and disruptive, consider a broker that publishes execution statistics and trade confirmation logs so you can see how often and why your orders are adjusted. Dealers that route orders directly to an ECN or multiple liquidity providers tend to produce fewer requotes for small- to medium-size retail trades, but other trade-offs such as commissions and possible slippage still apply. Test a broker on a demo account and, where possible, compare trade fills between demo and live to see whether requotes and execution quality match their claims.
Risks and caveats
Requotes are a normal part of trading technology, especially in volatile or illiquid conditions. However, if a broker issues requotes repeatedly in quiet markets, or the revisions consistently move against the trader, that is a red flag and worth investigating. Regulators and industry best practice expect transparent execution policies; if you suspect unfair dealing, raise it with the broker and, if appropriate, consider filing a complaint with local supervisory authorities. Always remember that execution behaviour varies between account types and instruments; what works for one trader or pair may not work for another.
Trading carries risk and you can lose money. This article provides general information and is not personalised financial advice. Evaluate your own risk tolerance and test changes in a demo environment before applying them to live trading.
Key Takeaways
- A requote is a broker’s offer of a new price when the market moved before your order could be filled.
- Requotes commonly occur during high volatility, low liquidity, large orders, or technical latency.
- Use limit/pending orders, trade outside major-news windows, and choose brokers with transparent execution to reduce requotes.
- Requotes are different from slippage; a requote asks for approval of a new price, while slippage is filled at the next available price without prompting.
References
- https://www.dailyforex.com/forex-articles/2011/07/what-is-a-requote/8330
- https://medium.com/@ifcmarkets_com/how-to-avoid-requotes-in-forex-b546f770da4d
- https://www.wallstreetmojo.com/requote/
- https://www.forex4you.com/en/faq/requote-message/
- https://www.fxpro.com/help-section/traders-glossary/re-quote
- https://get.exness.help/hc/en-us/articles/360011802860-Requotes
- https://www.forexfactory.com/thread/62367-what-does-requote-mean
- https://www.instaforex.com/knowledge_base/135-slippages-and-requotes