In plain English
What Requote means
Requotes are most associated with quote-driven or “instant execution” trading systems. If a quoted forex price changes before the system processes the customer’s instruction, the original order may be rejected and a new price shown. A requote is therefore different from ordinary market execution, where an order may be filled automatically at the best available price, with slippage.
Why it matters
A requote can delay entry or exit during a moving market and can cause a trader to miss a price entirely. The relevant question is not simply whether requotes occur, but how a firm handles price improvements and adverse moves, rejects orders, and discloses its execution method. Regulation and disclosures do not ensure an executable quote at every moment.
Example
A trader clicks to buy GBP/USD at 1.27000. Before the dealer processes the instruction, its available sell price becomes 1.27020. Rather than execute at either the original quote or the changed market price, the system rejects the request and displays 1.27020 for the trader to accept. That replacement quote is a requote.
Quick answers
Common questions
Are requotes always unfavorable?+
Not necessarily. A new quote can be better or worse than the original quote. However, a fair execution process should not systematically reject favorable price movements for customers while retaining unfavorable ones.
Can a limit order receive a requote?+
It depends on the platform and order-handling model. A conventional limit order specifies a maximum buying or minimum selling price and should not execute outside that limit, but it may remain unfilled rather than be requoted.
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