Best No-Requotes Forex Brokers for 2024
A “no-requotes forex broker” refers to a forex (Foreign Exchange) brokerage firm that offers trading without re-quotes. In the context of the forex market, a re-quote happens when the broker isn’t able to execute the trade at the price that the trader requested.
This might be due to a rapid movement in the market or other factors. When this occurs, the broker will offer a new quote to the trader. This process can be frustrating for traders, particularly those who engage in fast-paced strategies like scalping.
In this article, we have grouped some of the best forex brokers without requotes.
To compile this ranking, we took these factors into consideration:
- The overall quality of the brokers
- The internal requotes-free policy of the brokers
- The efficiency of order execution
- The commissions on forex trading
What are requotes in forex?
A requote is basically a change in the price of the order between the time you make the order, and when it is actually executed. There are a number of reasons why this may happen, but the result is that a broker has been unable to open your trade at the initial price, and has instead opened it at the requoted price.
Which forex brokers can help you avoid requotes?
Avoiding requotes is not always the easiest thing to do. This is because they are not actually applied by the broker but instead they are typically the result of another issue such as a sudden market change, or a technical issue with the speed of execution.
With that said, the type of broker you choose, and particularly the execution methods they employ, can have a big bearing on your exposure to requotes. In this case, you are best to choose between one between NDD, ECN, and STP brokers. These will typically try to offer a requote-free trading environment and provide you access to the fastest execution styles, deepest liquidity, and most direct access to markets.
Why do requotes happen when trading with forex brokers?
Here are some of the main reasons why a requote can occur:
Slow Internet Connection and Technical Issues: Your internet connection could be at the root of your problems when it comes to requotes. A slow internet connection will cause a higher number of requotes since there will be a delay in you clicking the button to order, versus the time this order is received by the broker’s servers. Any delay in time here could mean tha price may have changed. The same goes for any technical issues you may have.
Broker’s Execution Delay: Depending on the execution type you choose from your broker, there could be a higher instance of requotes depending on this execution method. The best brokers to select to avoid these delays are the best ecn brokers as they are generally considered to be the fastest, and can provide you with lightning-fast execution speeds.
High Market Volatility: The other time when you may experience requotes is when the markets are particularly volatile. This can occur during high volume periods, or when there is some market change event or news released which can cause the prices to change rapidly. In these kind of special cases, it will not matter how fast your internet connection, nor the execution method used, the market can still change in the very slight amount of time in between these actions.
Who should look for a No-Requote forex broker?
If you are a day trader, or someone else trading over very short time frames such as scalpers, then a requote could have a drastic impact on your trading strategy and overall results. If this is you, then you should absolutely be searching for the best no requotes forex brokers that you can.
