Requote meaning in plain words
A requote happens when you send an order at a price you see, the broker cannot fill it at that price, and it offers you a new price instead. You can accept the new price or decline it. If you decline, no trade is opened.
In MetaTrader the platform shows a window with the new price, which traders often call a "requote error". It is not a fault in the platform. It means the price moved before your order was filled.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Why requotes happen with instant execution
With instant execution, your order asks for the exact price shown on your screen. The broker checks that price when it receives the order. If the market has moved, the original price is no longer available, so the broker sends back a new quote.
Requotes become more frequent when:
- the market moves fast, for example around major news (see volatility)
- there is little liquidity, so prices jump between quotes
- your connection is slow, so the price you saw is already old when the order arrives
- the market opens after a break and the price has gapped
The bid and ask prices on your screen are always a recent snapshot of the market, not a guarantee that you will get that price.
How market execution replaces requotes
With market execution, a market order is filled at the best available price when the order is processed. It does not ask you to confirm a new price, so there are no requotes. The trade-off is slippage: the fill price can be different from the price you saw, sometimes better and sometimes worse. Read more on slippage.
| Instant execution | Market execution | |
|---|---|---|
| Price you ask for | The exact price on screen | The best available price |
| If the price moves | A requote is offered | The order is filled at the new price |
| Main risk | Missed entry while you decide | Slippage on entry or exit |
| Your control | Accept or decline | Set a maximum deviation (if allowed) or use pending orders |
Which mode an account uses depends on the broker and the account type. This is linked to the broker's execution model.
Details for experienced traders
- Deviation setting. In MetaTrader, instant execution often lets you set a maximum deviation in points. If the new price is within that range, the order fills without a requote. Outside it, you get a requote.
- Pending orders. A limit order is filled at your price or a better one, so it limits adverse slippage, but it may not fill at all. A stop order becomes a market order when triggered, so it can slip.
- Stop losses. In fast markets a stop loss can be filled worse than its level. Neither execution mode protects you from that.
- Costs. Repeated requotes or slippage change your real entry price and therefore your total cost and result.
Leveraged forex and CFD trading can lose money fast, and execution problems during fast markets can make losses larger than planned.
Frequent questions
What is a requote in simple terms?
It is a new price offered by the broker because your requested price is no longer available.
Is a requote error a problem with my account?
No. It means the market moved before your order could be filled at the requested price.
Can I avoid requotes completely?
An account with market execution does not give requotes, but you accept possible slippage instead.
Is slippage better than a requote?
Neither is better in every case. A requote gives you a choice but can make you miss the trade. Slippage fills the trade but at an uncertain price.
Where can I check which execution type my account uses?
Check the current account conditions in your broker's personal area or on its official site.