Requote

A requote is a notification from a broker or trading platform indicating that the price at which you attempted to place an order is no longer available, and that a new price is being offered in its place. The trader must then decide whether to accept the revised price or cancel the order entirely. Requotes occur most commonly with market makers and dealing-desk brokers during periods of rapid price movement, high volatility, or low liquidity, when the broker's quoted price becomes stale before the order can be executed. The requoted price may be slightly better or worse than the original requested price, though in practice it is more often less favourable to the trader.

In plain English — Imagine you are at a busy market stall and you ask to buy an apple for 50p. By the time the vendor turns around to hand it to you, the price on their board has changed to 52p. They say: "Sorry, that price has gone — I can do it for 52p, do you still want it?" That is essentially a requote. In trading, prices move very fast, sometimes in milliseconds. If your broker operates a dealing desk (meaning they take the other side of your trade internally), they need a moment to check their own exposure before confirming your price. If the market moves during that brief window, the price they originally showed you is no longer valid, so they come back with a fresh one. You are never forced to accept it — you can decline and try again — but by that point the market may have moved further.

A trader wants to buy EUR/USD at 1.08500. They click "Buy" in their platform. The market is moving quickly because a major economic data release just came out. Before the broker's dealing desk can confirm the order, EUR/USD jumps to 1.08530. The broker sends back a requote pop-up: "Price has changed. New price: 1.08530. Do you want to proceed?" The trader now faces a choice: accept the fill at 1.08530 (3 pips higher than intended, increasing their entry cost) or decline and wait to see if the price retraces. If they are trading a position worth 1 standard lot (100,000 units), that 3-pip difference represents roughly 30 USD of extra cost on entry alone.