What it means
A requote happens when you submit an order at price X, the broker can't or won't fill at X (price has moved or liquidity has thinned), and the broker responds with a new offered price Y, requiring your acceptance to execute. Usually within a 1-3 second window. Standard on market-maker platforms; rare on true ECN platforms (which fill at the next available price instead of requoting).
Why it matters
Requotes are an operational cost specific to market-maker brokers. In fast markets, requotes can chain (you accept the requote, it requotes again) — and your effective fill price can drift several pips from intention. For active strategies, requote frequency is a meaningful broker-quality signal.
How to use it
Track requote frequency by broker as part of execution-quality monitoring. Frequent requotes during news windows indicate a broker that internalizes order flow and reserves the right to refuse trades they don't want to internalize at the displayed price. ECN brokers don't requote — they fill or cancel.
Want a worked example or a deeper dive? Ask Rocky how this concept applies to your specific watchlist or trade idea.
Ask Rocky