Requote

What Is a Requote?

A requote occurs when you submit an order at one price but the broker cannot fill it at that price because the market has moved. Instead of executing, the broker sends you a new price and asks if you still want to proceed. You can accept the new price or reject it. Requotes are essentially a form of order rejection with a second chance.

Why Requotes Happen

Requotes are most common with market-maker (dealing desk) brokers, particularly during fast-moving markets, news releases, or when liquidity is thin. They occur because there is a delay between when you click the order button and when the broker processes it. If the price changes beyond the broker's acceptable deviation during that gap, you get a requote instead of an execution.

Requotes vs. Slippage

With a requote, the broker asks permission before executing at a different price. With Slippage, the broker fills the order at the new price without asking. ECN and STP brokers typically do not requote because they pass orders directly to liquidity providers, but they may give you slippage instead. Many traders prefer slippage over requotes because at least the order goes through immediately. Frequent requotes are a sign to consider switching to a broker with faster execution.