What is requote?

A requote occurs when a trader's order request is not executed at the initial price due to market fluctuations. Market prices are dynamic, and when an order is placed, especially in fast-moving markets, the requested price may no longer be available. In such cases, brokers may offer a new price, which the trader can either accept or reject. This process is common in Forex trading, where bid and ask prices can change rapidly. Requotes can be particularly prevalent during periods of high volatility or low liquidity, impacting order execution. Traders should be aware of the possibility of requotes and consider the implications for their trading strategies, especially in fast-paced environments.