Requote

A requote happens when a trader attempts to place a market order, but the broker's system cannot fill it at the specified price due to rapid market movement or latency. Instead of executing, the broker sends a new price for the trader to accept or reject. This process is common with dealing desk brokers who act as market makers.

For a retail trader, requotes can lead to missed entry or exit points, potentially altering trade profitability. If the new price is worse than desired, accepting it means a less favorable outcome. Frequent requotes, especially during volatile periods, can disrupt trading strategies and increase frustration. Traders often encounter requotes with market orders, whereas pending orders are typically filled at the first available price.