Requote: When the Broker Asks You to Accept a New Price
Macro Glossary, Forex Mechanics
By Ken Chigbo, macro trader and founder of KenMacro, 18+ years in markets.
Updated 2026-05-20
The desk’s answer
A requote happens when the broker rejects the trader’s original price (because the market has moved between the click and the fill) and offers a new price (usually worse) for the trader to accept or reject. Requotes are characteristic of dealing-desk and market-maker brokers, who decide whether to internalise an order at the requested price or push it back to the trader as a requote. Genuine NDD execution (ECN or STP) does not requote; it simply fills at whatever the liquidity pool returns, with the slippage on the fill being the cost of the speed.
Defined term, Requote
A requote is the broker’s response to an order request when the original price is no longer available, offering the trader a new price (usually worse) and asking them to accept or reject the modified terms. Requotes are characteristic of dealing-desk and market-maker brokers; genuine NDD execution (ECN or STP) fills at whatever the LP returns rather than asking for confirmation.
Why requotes happen and what they signal
Requotes occur because the broker, acting as a dealing desk, has the option to reject a client’s order at the requested price. When the market moves between the click and the fill (especially in fast tapes or around news), the broker may decide that filling at the requested price would be unprofitable and pushes back a new price. The trader either accepts the new price, rejects it (and the trade does not happen), or sees the request time out. Frequent requotes signal that the broker is running a dealing-desk model and is protecting its own book at the cost of execution quality.
Requote vs slippage as two different problems
Requote and slippage are not the same thing. Slippage is a worse fill at execution. Requote is a refusal to fill at the requested price, with a new price offered. NDD brokers (ECN, STP) deliver slippage in fast markets but do not requote, because there is no dealing desk to negotiate. Dealing-desk brokers requote and may slip, but the requote is the more visible problem because the trader must decide in seconds whether to accept the worse terms. Both are friction costs, but requotes are a sign of a broker model that prioritises the dealing desk over the client.
How modern execution has reduced requotes
Twenty years ago requotes were universal because most retail forex was dealing-desk and bandwidth was slower. Today, NDD execution dominates among well-regulated brokers, and the equivalent friction shows up as slippage rather than requote. A broker that still requotes routinely is either running a dealing-desk model deliberately (a B-book operation) or operating with poor technology. Both are reasons for an active trader to look elsewhere. Verify by placing test trades in fast tape and observing whether fills come back as filled (with or without slippage) or as requote prompts.
Frequently asked
What is a requote in forex?
A requote is the broker’s response to an order request when the original price is no longer available, offering the trader a new price (usually worse) for confirmation. It is a market-maker behaviour and is rare on genuine NDD (ECN or STP) brokers, who fill at whatever the LP returns.
Is a requote the same as slippage?
No. Slippage is a worse fill at execution. A requote is a refusal to fill at the requested price, with a new price offered for the trader to accept or reject. NDD brokers slip but do not requote; dealing-desk brokers may do both.
What does frequent requoting tell me about my broker?
It tells you the broker is running a dealing-desk model and is protecting its own book at the cost of execution. Persistent requotes on routine trades are a reason for an active trader to switch to a true NDD broker with transparent slippage and no requote behaviour.
What this means at the desk
Requotes are a broker-model signal, not market friction. If they happen often, the model is the problem.
Read next from the desk
Educational glossary entry only,
From the desk
Knowing the term is step one. The next question is always which broker actually serves you well. The desk audits eight brokers on regulation by entity, true cost, and honest fit, with the regulatory caveats the comparison sites bury.
not financial advice and not a trade signal. The desk teaches a reading framework, never entries, targets or recommendations. Trading forex, indices and leveraged products carries significant risk and may not be suitable for all traders. Some broker links on this site are commercial partnerships and KenMacro may receive compensation, which does not change the editorial view. Only trade with capital you can afford to lose.
From the desk, free
Get the macro framework the desk actually trades
The same regime-first framework behind every call on this site, plus the weekly macro brief. Free. No spam, unsubscribe anytime.
Continue reading
From the desk
Where this gets traded
Reading the macro driver is half of it. The other half is an account that holds execution when the driver actually moves the tape. See the KenMacro desk guide to the best brokers for macro traders.
Read the desk guide →