What is a Requote in Forex? A Complete Guide for Canada Traders (2026)

What Exactly is a Requote?

A requote happens when you place a market order, but the price moves before the broker can fill it. Instead of executing at your requested price, the broker asks if you want to trade at the new price. This is common with market maker brokers that act as counterparties to your trades.

How Requotes Work in Practice

Imagine you want to buy USD/CAD at 1.3500. You click 'Buy,' but the broker's system shows a new price of 1.3505. You must accept or reject this new price. In fast markets, this can happen repeatedly, causing frustration and missed opportunities.

Why Requotes Matter for Canada Traders

Canada traders often trade USD/CAD due to the strong economic ties between Canada and the United States. Requotes can eat into profits, especially when trading with smaller accounts. Brokers regulated by the local financial authority (CIRO) must disclose their requote policies, but not all brokers are transparent. Using ECN or STP brokers can reduce requotes significantly.

Example with USD Amounts

Suppose you trade 1 standard lot of USD/CAD (100,000 units) with a leverage of 30:1. Your margin requirement is around $3,333 USD. If a requote adds 2 pips to your entry, that's an extra $20 USD cost. Over many trades, this adds up. For Canada traders using Bank Transfer or Skrill to fund accounts, choosing a low-requote broker is critical.

For Canada traders, the forex market is regulated by the Canadian Investment Regulatory Organization (CIRO), which replaced the IIROC in 2023. CIRO requires brokers to have transparent execution policies, but requotes are still allowed. Many Canadian retail traders use local brokers that accept Bank Transfer, Skrill, and USDT for deposits. Bank Transfer is common for larger deposits, while Skrill and USDT offer faster funding and are often linked to international brokers with ECN execution, which reduces requotes. When trading USD/CAD, Canada traders should be aware that requotes are more frequent during Canadian economic data releases like GDP or employment reports. Always verify your broker's execution model and read their order execution policy before trading.

1. Check Broker Execution Type
   Before depositing funds, confirm if your broker uses market maker (requote-prone) or ECN/STP (requote-free) execution. Look for this in the 'Order Execution Policy' section.
2. Use Limit Orders
   Instead of market orders, use limit orders to specify the exact price you want. This avoids requotes entirely, though your order may not fill if the price doesn't reach your level.
3. Avoid High Volatility Periods
   Trade during low-impact news times for Canada, such as avoiding Bank of Canada rate decisions or US non-farm payrolls. Requotes spike during these events.
4. Test with a Demo Account
   Open a demo account with your chosen broker and test how often requotes occur. This is especially useful for Canada traders using Skrill or USDT to fund live accounts later.

Requotes vs. Slippage: Slippage is automatic and often occurs during news events; requotes require your action. Requotes vs. Rejection: A rejection means your order is not filled at all, while a requote offers an alternative price. For Canada traders, slippage is more common with ECN brokers, while requotes are typical with market makers. Understanding these differences helps you set realistic expectations for your trading platform.

When you place a market order in forex, your broker sends it to their liquidity provider. If the price has moved, the broker returns a new price—this is a requote. For Canada traders trading USD/CAD, this often happens during the overlap of New York and London sessions when volatility is high. The broker's system will display the new price and ask for your confirmation. If you accept, the trade is executed at the new price; if you reject, the order is cancelled. This process can take milliseconds but feels slow in fast markets.

Example 1: You trade USD/CAD with a market order at 1.3500. The broker requotes at 1.3503. You accept, and your trade is executed 3 pips higher. For a 1 lot trade, this costs $30 USD extra. Example 2: During the Bank of Canada interest rate decision, you try to sell USD/CAD at 1.3450. The broker requotes at 1.3458. You reject, and the price moves to 1.3465—you miss the move. These examples show how requotes can impact your bottom line.

In Canada, retail forex brokers must be registered with the Canadian Investment Regulatory Organization (CIRO). CIRO sets rules on leverage (30:1 for majors), client fund segregation, and transparent execution policies. While requotes are not banned, brokers must disclose how they handle order execution. Canada traders should always check the CIRO registry before depositing funds. If a broker is not regulated by CIRO, they may still be legitimate if regulated by a Tier-1 authority like the FCA or ASIC, but you lose the protection of local dispute resolution. Using Bank Transfer or Skrill to fund a CIRO-regulated broker adds an extra layer of security.

• Use a VPS: A Virtual Private Server reduces latency, helping your orders get filled faster and reducing requote chances for Canada traders.
• Monitor Spreads: Wide spreads often lead to requotes. Trade during London or New York sessions when spreads are tightest for USD/CAD.
• Choose Brokers with 'No Requote' Promises: Some brokers advertise 'no requote' execution. Verify this with user reviews from Canada traders on forums like Forex Factory.
• Fund with USDT: USDT deposits are fast and often used by international ECN brokers that have fewer requotes. Skrill is also a good alternative.
• Keep a Trading Journal: Track how many requotes you experience per broker. This helps you decide whether to switch brokers or adjust your strategy.

Requotes are a reality of retail forex trading, especially for Canada traders using market maker brokers. By understanding how requotes work and choosing the right broker—preferably one with ECN/STP execution—you can minimize their impact on your USD/CAD trades. Always test your broker with a demo account, use limit orders, and avoid trading during high volatility. For the best experience, consider funding your account with USDT or Skrill to access international brokers with better execution. Start by reviewing our broker comparison tools to find a CIRO-regulated broker that fits your needs.