Requote

A requote happens when you send an order at a specific price, the market moves before the broker can fill it, and the broker comes back with a different price. On MetaTrader it appears as a pop-up showing the new quote and asking whether to accept.

Requotes belong to instant execution (sometimes called request execution), where the order is tied to the price you saw. Under market execution, which most brokers now use for forex, there are no requotes: the order fills at the next available price, and the difference shows up as slippage instead.

Example

Illustrative figures: you click buy on GBP/USD at 1.27420 with a maximum deviation of 0.5 pips. By the time the order reaches the dealer, the ask is 1.27470, 5 pips higher and beyond your tolerance. The broker returns a requote at 1.27470. If you accept, you pay 5 pips more than you meant to. If you decline, you are not in the trade, and the price may move further.

When they happen

• Around major data releases, such as NFP, and central bank decisions.
• In thin markets, such as the daily rollover or holiday periods.
• When the broker's price feed or dealing process is slow.

Practical notes

Occasional requotes in genuinely fast markets are normal. Frequent requotes in calm conditions, especially only when the market moves in your favour, are a red flag about execution quality, and worth raising with the broker or, if regulated, its regulator. Our guides to slippage and ECN, STP and market maker execution explain the difference between execution models.