What Is a Requote in Forex? A Complete Guide for Australia Traders (2026)

What Exactly Is a Requote?

A requote occurs when you place a market order but the broker's price has moved before execution. Instead of filling your order at the original price, the broker asks if you want to trade at a new price. For example, you try to buy AUD/USD at 0.6500, but the broker says the new price is 0.6505. You can accept, reject, or modify the order.

Why Do Requotes Happen?

Requotes happen due to market volatility, low liquidity, or slow internet connection. In Australia, the Sydney session is liquid, but during Asian or US overlaps, requotes can spike. Brokers with market maker models requote more often than ECN/STP brokers. ASIC requires brokers to disclose their execution policy, so check if your broker uses 'instant execution' (prone to requotes) or 'market execution' (less requotes).

How Requotes Affect Australia Traders

Australia traders using AUD pairs face requotes during RBA announcements or employment data releases. For instance, if you trade AUD/JPY and the RBA hikes rates unexpectedly, the price jumps, and your broker may requote. This can cost you pips or cause missed opportunities. Experienced traders often switch to ECN brokers to minimise requotes.

For Australia traders, requotes are particularly relevant due to ASIC's strict regulations on order execution. ASIC requires brokers to provide 'best execution' and disclose when requotes may occur. Many local brokers offer both instant and market execution models, so you can choose based on your preference. Funding your account via BPAY or bank transfer often takes 1-2 business days, so plan your deposits to avoid missing trades due to requotes. Credit card deposits are faster but may incur fees. Experienced Australia traders often use demo accounts to test a broker's requote frequency before depositing real AUD. Always read the 'Order Execution Policy' on your broker's website—this is mandated by ASIC and explains exactly when requotes can happen.

1. Choose the Right Broker
   Select a broker with ECN or STP execution to reduce requotes. Check if they offer market execution, which fills orders at the next available price without requoting.
2. Check the Economic Calendar
   Avoid trading during major Australian economic releases like RBA rate decisions or CPI data. Use an ASIC-regulated economic calendar to plan your trades.
3. Use Limit Orders
   Instead of market orders, use limit orders to specify your exact entry price. This avoids requotes because the order only executes if the price reaches your level.
4. Test on a Demo Account
   Fund a demo account with virtual AUD and test your broker's requote frequency during different market sessions. This helps you decide if the broker suits your trading style.

Requotes vs. Slippage: Requotes give you a choice to accept a new price, while slippage executes automatically at the next available price. For Australia traders, requotes are more common with brokers offering 'instant execution', while slippage occurs with 'market execution'. Requotes can be frustrating because they delay your trade, but they also let you walk away if the price is unfavourable. Slippage can be positive or negative. Another comparison is with 'partial fills'—when only part of your order is filled at the requested price, and the rest is requoted. ASIC-regulated brokers must disclose how they handle these scenarios in their order execution policy.

When you place a market order to buy AUD/USD at 0.6500, your broker sends the order to its liquidity provider. If the price has moved to 0.6505 by the time the order reaches the provider, the broker cannot fill you at 0.6500. Instead, the broker sends you a requote: 'New price: 0.6505. Accept or reject?' You can accept the new price, reject the order, or modify it. This process happens in milliseconds. For Australia traders, requotes are more common during the Sydney open (7am AEST) when liquidity is high but volatility can spike. Using a broker with direct market access (DMA) can reduce requotes because your order goes straight to the interbank market.

Example 1: You want to sell AUD/JPY at 90.00. Your broker requotes you at 90.05 because the price moved during the RBA rate decision. You accept and your order fills at 90.05, costing you 5 pips extra. Example 2: You place a buy order for AUD/NZD at 1.0800 during the Sydney session. The broker requotes at 1.0802 due to low liquidity. You reject the order and wait for a better price. These examples show how requotes can affect your AUD-denominated trades. To avoid this, use limit orders—they only execute at your specified price, eliminating requotes entirely.

ASIC (Australian Securities and Investments Commission) regulates forex brokers in Australia. ASIC requires brokers to provide 'best execution' and disclose their order execution policies, including when requotes may occur. Brokers must also maintain client funds in segregated accounts, which protects your AUD deposits. ASIC does not ban requotes, but it mandates transparency. For Australia traders, this means you can access a broker's execution policy easily and file a complaint if requotes are unfair. Always check your broker's ASIC licence (e.g., AFSL number) on the ASIC register to ensure compliance.

• Use a VPS: A Virtual Private Server reduces latency and internet-related requotes. Many Australia traders use VPS providers located in Sydney for faster execution.
• Avoid News Trading: Trading during RBA announcements or US non-farm payrolls increases requote chances. Wait 15 minutes after the release to trade.
• Check Broker Spreads: Wide spreads often lead to requotes. Compare spreads on AUD pairs across ASIC-regulated brokers.
• Fund via BPAY: BPAY deposits are free and reliable, but take 1-2 days. Plan ahead so you don't miss opportunities due to requotes.
• Use a Demo First: Test your broker's requote behaviour with a demo account funded with virtual AUD before depositing real money.

Requotes are a common part of forex trading, especially for Australia traders using market maker brokers. By understanding how requotes work and choosing the right execution model, you can minimise their impact on your trading. Start by reviewing your broker's order execution policy—look for market execution or ECN models. Test your broker with a demo account funded with virtual AUD. When you're ready, fund your live account via BPAY or bank transfer and trade with confidence. For more guidance, explore CompareBroker.io's broker comparison tools tailored for Australia traders.