What Is a Requote in Forex? A Complete Guide for Finland Traders

What Exactly Is a Requote?

A requote happens when you place a market order or a pending order, and the broker's system cannot match your requested price due to rapid price movements or low liquidity. Instead of executing at your price, the broker sends a new quote — usually with a slightly different price — and asks for your confirmation. This is different from slippage, where the trade executes automatically at the next available price.

How Requotes Work in Practice

Imagine you are a Finland trader using a retail forex platform. You see EUR/USD trading at 1.1000 and click 'Buy'. The broker's system checks the market but finds the price has already moved to 1.1002. The broker then sends a pop-up window showing the new price: 'Requote: Buy EUR/USD at 1.1002?' You can accept or reject. If you accept, your trade opens at 1.1002, meaning you start with a 2-pip disadvantage compared to your original intention.

Why Requotes Matter for Finland Traders

For Finland retail traders, requotes can be costly, especially when trading with leverage. A 2-pip requote on a standard lot (100,000 units) equals a $20 difference. Over many trades, requotes can erode profits. They also cause delays, which can be critical during news events. Traders who use automated strategies or scalping are particularly affected because requotes break the speed of execution.

Requotes vs. Slippage vs. Rejection

It is important to distinguish requotes from similar concepts. Slippage means the trade executes at the next available price without asking you. Rejection means the order is cancelled entirely. Requotes give you a choice, but that choice costs time. Finland traders should check their broker's order execution policy to understand which type they are likely to encounter.

For Finland traders, requotes are particularly relevant because many retail forex brokers operate as market makers, especially those popular in the Nordic region. When you deposit funds via Bank Transfer, Skrill, or USDT, the broker's execution model does not change — requotes can still occur. However, choosing a broker that offers ECN or STP execution can significantly reduce requote frequency. The local financial authority (FIN-FSA) regulates forex brokers operating in Finland, requiring them to provide transparent execution policies. As a Finland trader, you should always read the broker's terms regarding requotes before depositing money. Some brokers advertise 'no requote' execution, but this often comes with wider spreads or commissions. Understanding this trade-off helps you choose the right broker for your trading style. Additionally, when trading USD pairs, requotes are more common during US session overlaps, which occur late in the evening for Finland (around 15:00–18:00 EET). Planning your trading hours around these liquidity windows can help you avoid requotes.

1. Identify Requote-Friendly Brokers
   Check if your broker is a market maker or ECN/STP. Finland traders can look for brokers regulated by the local financial authority or reputable EU regulators. Read the fine print on order execution.
2. Choose the Right Order Type
   Instead of market orders, use limit orders to specify the exact price you want. This avoids requotes because the trade only executes at your price or better. Finland traders trading USD pairs should use limit orders during volatile news events.
3. Trade During High Liquidity
   Trade USD pairs during the London-New York overlap (15:00–18:00 EET) when liquidity is highest. This reduces the chance of requotes because there are more buyers and sellers in the market.
4. Monitor News Events
   Avoid trading during major economic announcements like US Non-Farm Payrolls or ECB rate decisions. If you must trade, use pending orders with a buffer of 5-10 pips to account for requotes.

Requotes are similar to 'partial fills' when trading large volumes, but partial fills are more common with ECN brokers. Requotes are more common with market makers. For Finland traders, market makers often offer fixed spreads, which can be appealing, but requotes can negate that benefit. ECN brokers offer variable spreads and lower requote risk but charge commissions. The best choice depends on your trading frequency. Scalpers and day traders should prioritise low requote risk, while position traders may accept requotes in exchange for fixed spreads.

When you place a market order on a forex platform, the broker sends your request to its liquidity providers. If the price has moved before your order reaches the provider, the broker cannot fill at your requested price. Instead, the broker's system generates a requote — a new price based on current market conditions. For Finland traders using USD pairs, this often happens during the US session when volatility spikes. The requote appears as a pop-up window showing the new bid/ask price. You must click 'Accept' or 'Reject' within a few seconds. If you do nothing, the order is cancelled. This process can repeat multiple times in fast markets.

Example 1: Finland trader deposits €5,000 via Bank Transfer and trades EUR/USD. The current ask price is 1.1050. You place a market buy order for 1 standard lot. The broker sends a requote: 'Buy EUR/USD at 1.1053?' You accept. Your trade opens 3 pips higher. With 1:30 leverage (common for EU retail traders), this costs you $30 immediately.

Example 2: You trade USD/JPY during the London-New York overlap. Price is 110.00. You place a sell order. The broker requotes at 110.02. You reject and wait. The price drops to 109.98, and you place a new market order that executes without requote. This shows that patience can sometimes save you from requote costs.

The local financial authority (FIN-FSA) oversees forex brokers operating in Finland. Brokers must be licensed and comply with MiFID II regulations, which include rules on order execution. FIN-FSA requires brokers to execute client orders at the best available price and to disclose any requote policies. If you believe a broker is unfairly requoting your trades, you can file a complaint with FIN-FSA. Additionally, the authority provides educational resources on forex trading risks. For Finland traders, using a FIN-FSA regulated broker offers protection, including negative balance protection and segregated client accounts. Always verify a broker's license on the FIN-FSA website before trading.

• Use a Demo Account First: Test your broker's execution speed and requote frequency on a demo account before depositing real money via Bank Transfer or Skrill. This helps you understand the broker's behavior.
• Set Requote Preferences: In MetaTrader, you can set the platform to automatically accept requotes within a certain pip range. This saves time during fast markets.
• Avoid Scalping with Market Makers: If you scalp USD pairs, choose an ECN broker. Market makers are more likely to requote scalpers. Finland scalpers should look for brokers with 'no requote' policies.
• Track Requote Costs: Keep a trading journal noting how many requotes you receive and the average pip difference. Over a month, this cost can add up to hundreds of euros.
• Use VPS for Automated Trading: If you use Expert Advisors (EAs), a Virtual Private Server (VPS) hosted near your broker's servers can reduce requotes by lowering latency.

Requotes are a common but manageable aspect of forex trading for Finland retail traders. By understanding how they work, choosing the right broker, and using strategies like limit orders and high-liquidity trading hours, you can minimise their impact. Remember to always trade with a FIN-FSA regulated broker and test your broker's execution on a demo account first. For more educational resources on forex trading tailored to Finland, explore other guides on comparebroker.io. Start your trading journey informed and prepared.