What is a requote in forex?
In one line: A requote is when your broker can't fill your order at the price you asked for and offers you a new price instead, which you can accept or refuse.
A simple example
EUR/USD shows 1.0850 to buy. You click buy.
A box pops up: "Requote: 1.0853. Accept?"
In the half-second it took your order to arrive, price moved. The broker won't fill at 1.0850, so it offers 1.0853, 3 pips worse (see Pip).
- Accept: you're in at 1.0853.
- Refuse: no trade. By then the price may have moved again.
Why it happens
Requotes come from instant execution. Your order asks for one exact price. If that price is gone, the broker asks before filling at a new one.
The other style is market execution. Your order fills at the best price available, with no question. You won't see requotes, but you may get Slippage, better or worse, instead.
Requotes are most common when price moves fast: at big news, the market open or a sudden shock.
Why it matters
A requote is a cost hiding in plain sight. Accept a 3-pip requote on a trade with a 15-pip stop, and you've added 20% more risk to the trade. Your Stop loss distance from your real entry is now 18 pips, not 15.
A common mistake
Clicking "accept" again and again in a fast market. Each new price can be worse. You end up chasing, which is exactly the habit a plan exists to stop. See FOMO trading.
Use a Limit order when the exact price matters. It fills at your price or better, or not at all, with no requote box to rush you.
Frequent requotes on normal days can also be a sign worth noting about a broker. Log them in your journal for a few weeks, and compare.
For more on how forex orders and prices work, see forex trading for beginners.
Questions
Is a requote the same as slippage?
They're related. With a requote, the broker asks you first. With slippage, the order just fills at a different price. Both come from price moving before your order completes.
Can a requote be at a better price?
It can, though traders more often notice the worse ones. How a broker handles price moves in your favor is worth checking in its order execution policy.
How do I avoid requotes?
Avoid trading in the first seconds of big news, use limit orders where the exact price matters, or use an account with market execution, which accepts some slippage instead.
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