What is a Requote in Forex? A Complete Guide for Sudan Traders

What Exactly is a Requote?

A requote occurs when you place a market order at a specific price, but the broker cannot fill that order at the requested price. Instead, the broker sends a new price (the requote) and asks if you want to trade at that new price. This is common with market maker brokers. For Sudan traders, requotes can happen when trading USD/SDG or other major pairs during news events or when liquidity is low.

How Does a Requote Work?

When you click 'buy' or 'sell' at a certain price, your order goes to the broker. If the market moves before your order is filled, the broker may send a requote. For example, if you try to buy USD at 1.2000 and the market moves to 1.2005, the broker will ask if you accept 1.2005. You can accept or reject. This can delay your trade and affect your strategy.

Why Do Requotes Matter for Sudan Traders?

Sudan traders often face requotes due to limited liquidity in local currency pairs and during after-hours trading. Using USDT or Skrill deposits may also cause delays. Requotes can increase your trading costs because you may enter at a worse price. They can also cause missed opportunities if you reject the requote and the market moves further.

Practical Example in USD

Imagine you want to buy 1 lot of EUR/USD at 1.1000. You place a market order. The broker sends a requote: 'New price is 1.1002. Do you accept?' If you accept, you pay 2 pips more. For a 1 lot trade, that is $20 extra cost. For Sudan traders with limited capital, this adds up over time.

For Sudan traders, requotes are especially relevant because many local brokers operate as market makers. These brokers may requote frequently during volatile times, such as when the Sudanese pound fluctuates or during major economic announcements. Additionally, Sudan traders often use payment methods like Bank Transfer, Skrill, or USDT to fund accounts. These methods can introduce delays, which may increase the likelihood of requotes if you trade immediately after depositing. The local financial authority in Sudan does not specifically regulate requotes, so it is crucial to choose a broker with transparent execution policies. Always test a broker's execution speed with a demo account before depositing real funds.

1. Check Broker Execution Type
   Before depositing via Bank Transfer or USDT, verify if your broker offers instant execution or market execution. Instant execution reduces requotes.
2. Avoid High Volatility Periods
   Do not trade during major news releases like US Non-Farm Payrolls or Sudanese economic announcements. Requotes are more common then.
3. Use Limit Orders
   Instead of market orders, use limit orders to specify the exact price you want. This avoids requotes because the order only fills at your price.
4. Test with a Demo Account
   Practice with a demo account using Skrill or USDT funding to see how often requotes happen with your chosen broker.

Requotes are different from slippage. Slippage happens automatically without your approval, while requotes require your action. For Sudan traders, requotes can be more annoying because they interrupt your trading flow. Some brokers offer 'no requote' execution but may have wider spreads. Others use requotes to protect themselves from market risk. Compare broker execution types before choosing one.

A requote works when your broker receives your market order but cannot fill it at the requested price due to market movement or low liquidity. The broker then sends a new price (the requote) to your trading platform. You can accept or reject the new price. If you accept, the trade executes at the requoted price. If you reject, the order is cancelled. For Sudan traders, this process can be slower if using USDT or Skrill because of payment processing delays. Always check your broker's requote policy in their terms.

Example 1: You want to sell USD/SDG at 450.00. The market moves to 449.95. The broker sends a requote at 449.95. If you accept, you sell at a lower price, losing 5 points. Example 2: You want to buy EUR/USD at 1.1000 with a USDT deposit. The broker requotes at 1.1003 due to low liquidity. You accept and pay 3 pips more. Over 10 trades, that could be $30 extra cost for Sudan traders.

The local financial authority in Sudan does not have specific rules regarding requotes. However, brokers operating in Sudan must follow general fair trading practices. Sudan traders should only use brokers regulated by reputable international bodies like the FCA (UK), CySEC (Cyprus), or DFSA (Dubai). These regulators require brokers to disclose their execution policy and handle requotes fairly. Always verify a broker's regulatory status before depositing via Bank Transfer, Skrill, or USDT. Unregulated brokers may abuse requotes to take advantage of traders.

• Choose the Right Broker: Look for brokers that advertise 'no requotes' or 'instant execution'. This is critical for Sudan traders using USDT.
• Trade During Liquid Hours: Trade when major markets (London, New York) are open. Avoid local after-hours trading when liquidity is low.
• Use a VPS: A Virtual Private Server can reduce latency and requotes by placing your server closer to the broker's server.
• Monitor News Events: Use an economic calendar to avoid trading during high-impact news. Requotes spike during such times.
• Test with Small Amounts: Before depositing large sums via Bank Transfer, test the broker's execution with a small USDT deposit.

Requotes are a common part of forex trading that Sudan traders must understand to protect their capital. By choosing the right broker, using limit orders, and trading during liquid hours, you can reduce the impact of requotes. Always test your broker's execution with a demo account first. If you experience frequent requotes, consider switching to an ECN broker that offers instant execution. For more educational content tailored to Sudan traders, explore our other guides on comparebroker.io.