Forex requotes
Most likely the latter. Example 2: You are sending a buy request for 1. The price goes up sharply to 1. The deal is opened for 1. Firstly, you can work on accounts with other types of order execution, but this is not always correct, and even more so, it is not always profitable.
If your broker often has requoted for your profitable trades, this is the first signal that it is worth leaving. By checking the box there, you can choose how much the price may differ from the requested one, i.
Dealing with Slippage
Example 1: you set a maximum deviation of 5 pips. You send an order for 1.
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The price has changed 3 points higher. The order will open for 1. Example 2: you set a maximum deviation of 10 pips. After the order was sent, the price dropped by 15 points.
Forex Trading Requotes Explained
In this case, a requote will occur. It is recommended that you use this setting with caution because it gives the broker the right to open trades at unfavorable prices for you. It all depends on you and your broker. We recommend that you try both types to see what is best for you. Disclaimer: The content of this material is a marketing communication, and not independent investment advice or research. The material is for general information purposes only whether or not it states any opinions.
Nothing in this material is or should be considered to be legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by FX Central Clearing Ltd or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The Forex Market Requotes
Although the information set out in this marketing communication is obtained from sources believed to be reliable, FX Central Clearing Ltd makes no guarantee as to its accuracy or completeness. You may notice that requote occurs only in fast markets. Instead, however, a broker is decent enough to let you know that the market has moved away and if you continue with a trade order, you will end up with unfavorable price.
If you do suspect your broker in routine requites and you cannot get a decent explanation for it, it might be a good idea to take your business to another broker.
Requotes — is it something bad?
They make plenty of money from spreads. When trading with reputable forex broker, it is rather easy to dodge a requote. A solution is simple — place limit orders. This way you let your broker know that you want to place an order at a specified price or better. With limit orders, you basically state that you are not interested in a trade with a difference price and in case the market goes the wrong way, you prefer to stay away from it.
Requotes are common in fast markets and are a part of forex trading curriculum.
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If you bump into requites during non-farm payroll reports, there is nothing to worry about. Every broker is hectic during major press releases. Of course, too much requites, especially without a reason, should get you on alert and consider changing a broker with more liquidity option. April 02, Brokers by Payment. Brokers by Min Deposit.
Forex Trading Requotes Explained. Forex Trading Requotes Explained What is a requote?