Orders & Execution
Intermediate
Requote
Also called: price re-quote
When a broker rejects your order at the requested price and offers a new price to accept or decline.
Definition
A requote happens when a dealing-desk broker can’t (or won’t) execute your order at the price you saw. Instead of filling, they pop up a new price and ask you to confirm.
Requotes are characteristic of market-maker brokers; ECN/STP brokers execute at the next available price (with slippage) rather than asking. Frequent requotes during normal market hours are a red flag.
Example
You try to buy at 1.0800. Broker says: 'Price changed — new offer is 1.0803, accept?' You can confirm or cancel.
Why it matters
Requote-heavy brokers can disadvantage news traders. Check broker model (DD vs NDD) before depositing.