Dec 3 2019 08:42
Hi Nirhan Turan,
Requote in forex trading means that your broker cannot provide transactions or liquidate transactions at the price you asked for. Usually, this happens when there is high impact news and the broker system cannot execute at the price you asked for.
Requotes like this is considered normal and understandable, but very rare. However, a requote that occurs in a normal market could be a sign that the broker is cheating. For example, when you want to buy EUR / USD at the price 1.1300, and the broker cannot place a buy order at that price. However, when it has gone up 10 pips to 1.1310 the broker accepts the order directly.
The worse is, the requote at the time of floating profit or loss. For example, you have a floating profit of 100 pips and want to close the position as soon as possible because you know the price will move down and reduce the profit. The broker makes a requote and refuses to close your order when the floating profit hits 100 pips, and automatically closed when it reaches a profit at 85 pips. That is, there is a difference of 15 pips due to requotes. Thank you
Dec 5 2019 11:00
According to your experience, which broker is rarely a requote for?
Dec 6 2019 11:02
I personally have traded with more than 10 brokers and almost all of the brokers I use rarely requotes. I have tried on Tickmill, IC Markets, XM broker, FXPro, etc.
Dec 9 2019 11:04
How do you know about how many requotes are before we trade at the broker directly? And how do requotes affect trading?
Dec 11 2019 11:07
@Zyan Ibrahim, the only way to know is trading at the broker directly, we can't find out without checking directly.
For the effect of requotes, it will make client/trader orders imprecise. For example, requotes when floating profit/loss so that the loss is greater or the profit is reduced. On the other hand, the requote at the time of entry makes the trader not get a good price, because the price has moved a few pips from the price we should enter.
Dec 14 2019 11:07
@Zyan Ibrahim, the only way to know is trading at the broker directly, we can't find out without checking directly.
For the effect of requotes, it will make client/trader orders imprecise. For example, requotes when floating profit/loss so that the loss is greater or the profit is reduced. On the other hand, the requote at the time of entry makes the trader not get a good price, because the price has moved a few pips from the price we should enter.
