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Execution & tools

Requote

By Jarosław Wasiński • Published: • Updated:
A response asking a trader to accept a different price instead of executing at the requested quote, commonly associated with instant-execution modes. The replacement can be better or worse. Requotes differ from slippage on a completed fill; their occurrence depends on execution settings and price availability, not simply on an STP or ECN label.
Example.

A buy request refers to Ask 1.1000 and the provider proposes 1.1003 instead. Accepting may lead to a fill subject to that process; refusing leaves this request unexecuted. With EUR 10,000, the proposed difference is USD 3, but no completed slippage outcome exists until a fill is confirmed.

Replacement quote and outcome

Record the original request, replacement price, response and confirmed deal separately. A replacement can improve or worsen the price. Instant-execution and market-execution modes can handle a changing quote differently; neither mode alone proves superior execution.

Availability and settings

A quote may change during transmission or processing. Size, permissible deviation, account state and provider rules can affect the response. A declined proposal is not necessarily a completed trade at the original or replacement price. Check expiry and retry behaviour in the precise interface.

Diagnose comparable requests

Measure replacement frequency, response time, filled quantity and final price for comparable order types, sizes and conditions. Include unsuccessful attempts rather than reporting only attractive fills. A few requotes do not identify A-Book or B-Book or prove manipulation, while an absence of requotes does not establish zero execution risk.

FAQ

Is a requote already an executed trade?

No. It proposes a replacement price requiring the applicable response; confirm actual execution separately.

Does no requote mean no adverse slippage?

No. Another execution mode can fill at a changed price without an interactive replacement quote.

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Jarosław Wasiński

Editor-in-chief, ForexMechanics.com • Macro & FX analyst

Independent analyst and practitioner with over 20 years of experience in financial markets. Actively involved in Forex since 2007, with a focus on fundamental analysis, OTC market structure, and disciplined capital risk management.

  • Creator and editor-in-chief of MyBank.pl, providing reliable financial education since 2004.
  • Author of hundreds of in-depth market commentaries, structural analyses, and educational materials for traders and investors.
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All content is educational and informational only – it does not constitute investment advice or a recommendation. Remember: leveraged trading (Forex/CFD) carries a high risk of rapid capital loss.