What is a Requote in Forex?

What is a Requote?

A requote occurs when your broker cannot execute an order at the requested price and returns a new quote, asking you to accept or reject it. Requotes typically arise with dealing-desk or market-maker brokers when volatility spikes and their quoted prices lag behind actual market movement.

Why Requotes Happen

Dealing desks aggregate prices from liquidity providers and stream them to clients. If you submit an order between updates—or during a sharp move—the quoted price may no longer be available. To avoid filling you at a price that would create an immediate loss for the broker, the system sends a new, less favorable price. While legal, frequent requotes can be frustrating and add hidden costs.

How to Minimize Requotes

• Trade liquid sessions: Stick to major pairs during active overlaps (London/New York) when liquidity is deepest.
• Use limit orders: They guarantee price, though execution is not assured if market trades through your level quickly.
• Choose ECN/STP brokers: Straight-through processing models route orders directly to liquidity providers, reducing dealer intervention.
• Avoid high-impact news: Spreads widen and liquidity thins during events like NFP or central bank meetings—prime time for requotes.

Platform Settings and Alternatives

• Slippage tolerance: Configure reasonable bounds; too tight causes rejections, too loose increases costs.
• Use limits/stop‑limits: Guarantee price at the expense of certainty during fast markets.
• Venue selection: Prefer firm‑liquidity venues during news if you must trade events.

Broker questions: do they operate last‑look? What’s the average rejection rate by pair and session? Do they publish execution reports? Concrete answers separate robust venues from marketing fluff.

Advanced Guidance

Build a repeatable, rules‑based process so decisions are consistent across sessions and instruments. Start from context (higher‑timeframe structure, positioning, macro tone), then define precise triggers and invalidation on execution charts. Track spread and depth so your order type matches conditions. Pre‑compute scenarios (breakout, fakeout, mean‑revert) and map actions for each to reduce hesitation.

Execution Framework

• Plan entries at levels with confluence (structure, momentum, time‑of‑day).
• Place stops beyond the logical invalidation, not arbitrary distances.
• Target at least 2–3R; scale out methodically and trail remainder.
• Avoid thin liquidity windows unless the setup explicitly requires it.
• Record slippage and spreads; poor fills can erase edge.

Review Loop

• Journal setups by session and pair to learn where they excel.
• Tag trades by catalyst (news, trend continuation, range breakout).
• Recalculate expectancy monthly; prune underperforming variants.

Risk Controls

Keep daily loss limits, reduce size after consecutive losses, and pause during regime shifts. Survival enables compounding; treat discipline and execution quality as part of your edge.