What is requote?

What it means

Requotes belong to dealing-desk execution, where the broker is the counterparty and quotes prices rather than routing to a market. If price has moved since you clicked, the desk declines your price and offers a new one. On true ECN routing there is nothing to requote — you either get filled at whatever is in the book, or you get slippage.

Why it matters

For a human trader a requote is an annoyance. For an automated system it is a failure mode, because the EA has to decide in milliseconds whether the new price still satisfies the setup, and most do not handle it gracefully. Systems built for one execution model often behave unpredictably on the other.

What this changes in practice

MetaTrader exposes a deviation setting that governs how much price movement you will silently accept before the order is rejected. Set it too tight and orders fail during exactly the volatile conditions your strategy was designed for; set it too loose and you accept fills far from your intended price. On XAUUSD the working range is wider than most traders assume — see order fails to execute.