Thread: What does requote mean?

1) While some Currency Market firms advertise real time clocks prices, their traders may manually review each order you set and requote a worse price if the market is moving in your favor. In addition, their claims of 3-pip spreads regularly widen to 10 pips or more throughout fast-moving markets. Worse yet, once the market becomes explosive, such as when significant economic news is discharged, they may even suspend their prices.

2) Should you exchange in huge lots, they may want to affirm that you intended to make a huge trading order.

Hope this answers your query.

Happy New Year

It means there is a gap between the price you saw when you clicked buy/sell along with the price in the market as soon as your order reaches the broker.

You can be pretty sure that if the price goes against you, you won't get requote. If it goes in your path, you will probably have a requote.

Similar then slippage, but its performed manually in favor of your broker ofcourse...

Requote

The price you've clicked isn't the price the broker is prepared to give you.

*Not prepared* implies that the broker is at a disadvantage if the deal went through at the price you clicked.

Recall:
Poor for you Good for broker.
Good for you Bad for broker.
Therefore, a requote is something that the broker can do to screw you.

Originally Posted by ;

Apparently sometimes brokers will do this. I know that it's a terrible thing, but what exactly does it mean, why and how does this occur, and what impliions are there for the speculators like us?

Hi I am working with a international forx firm but I didnt say that the title; I am working in IT section. And beside us is the working room.

What you're workingon is your MT4 and its own cnsist of mutible modules and you're trading via the customer terminal along with your orders recieved by trader terminal; and thier he have three buttons; I will explaiin the most important two:
1- (send) button : once he check your price he'll input send button and the new price will be displayed in your terminal should he change the price.
2- (reject) button : only when he press this button a requote message will be displayed to you.

A requote doesn't need to be a blatant effort to screw you.

First, they only happen in fast markets. Your broker has every right to fill you on a market or discontinue market order and call it slippage but instead he provides you the courtesy of telling you that the market has moved off and when stuffed you'd recieve a negative price. Many requotes happen to bigger traders, not the man slapping on a few mini lots throughout the NFP release.

In the event that you regularly get requotes and do not like them then change brokers.

Wait, so would I get loaded in a much worse price - or will I get a message saying, I am sorry we didn't allow you to become full, forcing me to try again?

So requote/slippage is a function of liquidity? When calculating dries up during News period, spread widens etc, and there are not lots of traders on the opposing side?

An occasional requote in a fast moving market signifies nothing. Its totally normal to ask your client if they need a slightly different price. You'd do the specific same thing for your customers if you ran a brokerage company.

Most Brokers make enough cash from the high spreads.

Originally Posted by ;

Wait, so would I get loaded at a much worse price

- or would I get a message saying, I'm sorry we did not let you get filled, forcing me to test again?

Thus requote/slippage is a function of liquidity?

When calculating dries up during News time, spread widens etc, and there are not lots of traders on the other side?

NO
YES
YES
YES

Is there an option that allows you to Assume control of the risk of requoting... I mean like, let Us say there is a price difference of 4 pips between the price That You saw and the price the market is offering in the Exact Instant, is there a way for the trade not to be executed without your Consent...
I am sorry if my question Isn't clear... I had troubles translating my thoughts into words and then into a foreign language