Requotes in forex: what they are and what to ask a broker

Risk warning: This guide to requotes in forex is educational information only. It does not compare brokers or suggest that any execution approach suits every trader.

A broker comparison becomes more useful when every conclusion points to a document you can check. This guide shows which policy to read, how to record the evidence and where common assumptions break down. We distinguish general concepts from rules that depend on your country and account classification. Educational information only. This is not financial advice and not investment advice. Leveraged forex and CFDs can cause substantial losses; protections and availability depend on your jurisdiction and contracting entity.

Requotes in forex: what they are and what to ask a broker

Requotes in forex are a platform event that can feel confusing the first time you see one. You click to place an order, and instead of a fill you see a new price and a prompt to accept or decline it. How often you see this, if at all, depends on how your own account is set up, which is described in your broker’s documents.

This guide explains the idea in plain language, shows where the relevant wording usually sits in a broker’s documents and gives you a list of written questions to ask. It also gives you a simple log for recording what you see on your own screen.

What a requote is

In plain terms, a requote is a prompt offering you a different price from the one you requested, which you can usually accept or decline. It helps to separate it from two related events, so that you can find the right clause and ask a precise question:

Slippage. An order is filled at a different price from the one you saw, without a prompt.
Rejection. The order is not filled and no new price is offered. The platform may show a message.

Each of these may be described in a broker’s execution policy or client agreement. When something unexpected happens, write down which of the three it was before you do anything else.

Keeping a requote log

Rather than relying on general descriptions of when requotes appear, you can record your own experience over time. Each time you see a requote on a demo or live account, write one or two full sentences describing what happened. Note the instrument, the approximate time, whether a news release was scheduled, the order type you used and whether you accepted or declined the new price.

Over several weeks, the log shows whether requotes cluster around particular situations in your own trading. It is your own observation, not proof of how a broker behaves for everyone. It is, however, useful evidence if you later want to ask the firm about a pattern, because you can point to specific dates and times.

Instant versus market execution: what to look for

Platforms and brokers may describe more than one execution approach, often using names such as instant execution and market execution. Each firm describes what these mean for its own accounts, and which one applies may vary by account type or instrument. Rather than relying on a general definition, find your broker’s description and copy it into your notes.

When you read it, look for answers to these questions:

Does the description say when a requote may be offered?
Does it say what happens if the requested price is no longer available?
Does it mention slippage, and in which direction it may occur?
Does it say whether you can set a tolerance or maximum deviation?

Our earlier guide to MT5 order execution modes explains how execution settings appear on one common platform. For background reading, the FCA Handbook includes a chapter on dealing and managing; if your account is held elsewhere, look for the equivalent material from that entity’s regulator.

Where to find requote wording in the documents

The wording that governs requotes in forex usually sits in one of three places. Work through them in order and save dated copies as you go.

The order execution policy. Search for “requote”, “re-quote”, “price change”, “instant execution” and “market execution”. Copy how the firm describes each.
The client agreement. Look for sections on order handling, pricing and errors, including anything about orders placed at prices the firm treats as off-market.
The platform or account specification. Check whether the broker publishes the execution mode for each account type or instrument, and note which applies to the account you are considering.

Record each finding alongside the document name, version and paragraph number. Our forex broker evidence worksheet gives you a structure for this.

Questions to ask a broker about requotes

If the documents leave gaps, ask the firm in writing and keep the reply with your notes.

Which execution mode applies to my account type and to each instrument I plan to trade?
In what circumstances might I receive a requote on this account?
Can I set a maximum deviation or similar tolerance, and how does that setting work on your platform?
If I do not respond to a requote, what happens to the order?
Where in your execution policy are requotes and price changes described?
Will you notify me if the execution mode for my account changes?

Ask the firm to point to the clause that supports each answer, so you can read it yourself.

Practising on a demo account

A demo account can help you learn how the platform presents a requote prompt, how to accept or decline it and where any deviation setting sits. That is useful practice for the controls. Keep in mind that a demo cannot show how real orders will fill, so use it to learn the screens rather than to judge execution.

When you practise, focus on the controls rather than the outcome. Learn where the deviation setting sits, what the prompt looks like and how long it stays on screen. Note whether the platform shows a message when an order is rejected. Write these observations in your log as full sentences so they make sense when you read them later.

Reviewing your log with the documents

Once a month, read your log alongside the execution policy you saved. For each entry, note whether what you saw matches how the policy describes the account’s execution approach. If an entry does not seem to match, write a short question to the firm quoting the date, time and instrument, and ask which clause applies. Keep the reply next to the log entry.

This review is not about proving anything. It simply keeps your notes, the documents and the firm’s answers in one place, so that any later decision rests on evidence you have read.

Where common assumptions break down

“A requote means the broker is acting unfairly.” A single requote is not evidence of anything on its own. A pattern in your log is worth a written question.
“No requotes means better execution.” Read how your account handles price changes; the effect may appear in another form, such as slippage.
“The demo shows what live will do.” Use the demo to learn controls only.
“Execution mode never changes.” Keep dated copies of the policy and read any notices of change.

Risks to understand

Requotes, slippage and rejections are all ways a moving price can affect your orders, and choosing a particular account or setting does not remove them. Accepting a new price quickly may mean entering at a level you did not plan for; declining may mean not entering at all. Leveraged forex and CFDs can cause substantial losses. Keep these stop rules in mind:

If you do not understand a requote prompt, decline it and read the execution policy before trying again.
If your log shows a pattern you cannot explain from the documents, pause and ask the firm in writing.
If you are unsure whether a firm is genuine, check it on the regulator’s own register before trading.

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Requotes in forex: what they are and what to ask a broker