Best No Requotes Forex Brokers
Requotes frequently occur in the forex and CFD markets, where there is typically a high level of exposure to rate fluctuations. When a broker requotes you, it means that they are unable or unwilling to execute a trade for you at the price you entered. In essence, when a securities broker cannot complete a transaction at the bid price or ask price specified in their quotation, a requote may occur in trading.
In this article, we are going to review some of the best no requotes forex brokers in the world. But before we jump into that, let’s learn a little more about requotes.
What Are The Causes of Requotes?
Requotes typically occur in a volatile market after a price change in the process of placing an order. An investor may place an order at a particular price but the execution of the order might execute at a different price. The market might have changed by the time the broker receives and executes the order. The broker might not be able to complete the trade at the quoted price because the market is fast-moving and prices tick every millisecond.
The requote announcement appears on the investor’s platform to inform them that the price has changed. The broker will then offer the investor a requote in this situation. The investor can then choose whether to execute the order at the new rates or not. Almost always, the price is higher than the one the investor requested. Because of this, trustworthy brokers consult with you first before executing the trade.
The Difference Between Slippage and Requotes
Some traders may not know the difference between Slippage and Requotes because they both involve a change in market prices during the process of placing an order. Well, Slippage is the difference between the price at the time a trader requests a trade and the price at which the broker executes the trade. With Slippage, the broker executes the trade anyways regardless of the price change, whether negative or positive.
In contrast, Requotes also feature a price change between the time the trader places an order and when the broker is able to execute that order. However, here, the broker will notify the trader via their trading platform and give them the option to either go forward with the trade or cancel it.
We already covered some of the best ultra-low slippage brokers in the market. Now, let’s take a look at some of the best no requotes brokers in the world.
XMXM is a global online trading platform regulated by Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority (United Kingdom). It has four main accounts to choose from. These include a Micro Account, Standard Account, XM Ultra Low Account, and Shares Account.
On this broker site, clients can trade CFDs on forex, stocks, stock indices, oil and gold. There is a lot of diversity supported on this broker site in terms of accounts and trading instruments. These instruments can be traded on reputable platforms such as MT4 and MT5. Spreads for major currency pairs on the standard account start as low as 1.0 pips.
Since 2010, XM has been a leader in establishing a no-requotes and no-order rejections policy. According to the company’s order execution policy, 99.35% of all orders are filled in under a second. The client has the freedom to place orders at any time during trading hours, and the trading platform supports market, limit, stop, and trailing stop orders.
XTB is one of the world's largest stock exchange-listed Forex and CFD brokers. It is governed by the world's most powerful regulatory bodies, including the FCA, and CySeC. XTB offers two different account types Standard and Swap free. There is no minimum initial deposit. It has low spreads starting at 0.9 pips. It provides two platforms for trading, xStation and xStation mobile. There are numerous global markets, including Forex, Indices, Commodities, ETFs, and others.
There are several well-known liquidity providers for XTB. They are able to provide customers with the best prices, execution, and market depth thanks to this. They have sophisticated market solutions that allow even high-volume trades to be executed with the least amount of slippage. There are no requotes when trading with XTB because of the lightning-quick execution and price feeds. Orders placed by clients are always filled instantly and at the requested price.
78% of retail investor accounts lose money when trading CFDs with this provider.
FP Markets is a global Financial Technology services Forex and CFD broker that has been established and regulated since 2005. It is authorized by the CySEC and the ASIC, two of the top financial regulators in the market today.
It has two account types which are standard and raw. Both accounts require a minimum deposit of $100 AUD or equivalent. It has competitive spreads that start as low as 1.0 pips in the standard account. In contrast, the spreads on the Raw account start from 0.0 pips while charging a commission of $3 per side per lot.
On another note, FP Markets offers CFD trading on Forex, Indices, Shares, Commodities, Metals, Cryptocurrencies, Bonds, and ETFs in addition to trading Forex. These assets are traded on a great lineup of platforms including MetaTrader 4, MetaTrader 5, IRESS, cTrader, WebTrader, and mobile apps for iPhone and Android devices.
Clients can access institutional-grade liquidity without dealing desks, price manipulation, or requotes. They offer technical and fundamental analysis, live price streaming, low latency execution, support from an experienced team, and sophisticated charting tools for informed decision-making. Their Equinix NY4 facility server cluster provides quick trade execution.
73.85% of retail CFD accounts lose money
IC Markets is a digital asset trading platform regulated by several regulators. These include the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles (FSA).
IC Markets provides an environment for trading forex, stocks, commodity CFDs, futures, bonds, and cryptocurrencies. Clients have a choice between three main trading accounts. These include the Raw Spread (cTrader), Raw Spread, and Standard accounts. The minimum deposit on this broker site is $200. Spreads are relatively low starting at 0.6 pips on the standard account. Further, IC Markets offers several trading platforms, including MetaTrader 4 and MetaTrader 5, as well as cTrader.
Clients can trade in a True ECN environment with no requotes or price manipulation. IC Markets is one of the online forex brokers of choice for high-volume traders, scalpers and those using trading robots. It has deep liquidity and fast execution.
Pepperstone offers more than 1,200 CFD instruments on forex, indices, equities, cryptocurrencies, energy, and commodities. The broker is regulated by the Financial Conduct Authority (UK Based), and the Australian Securities and Investments Commission (Australia Based).
Clients at Pepperstone receive a fill rate of 99.72%, quick execution, and no dealing desk intervention. There are two main accounts Razor and Standard. Customers can trade forex on the standard account at 1.0 pip spreads. It has deep liquidity and no requotes. Additionally, they can trade on the Razor account with spreads starting from 0.0 pips and commissions starting at $2.80 per side per lot. Several trading platforms are available, including the popular MetaTrader 4 and MetaTrader 5 platforms, as well as cTrader.
On the FBS broker site, orders are executed through the market in all FBS accounts. Requotes are not possible because orders are filled at actual market prices. Orders are processed using ECN (Electronic Communication Network), STP (Straight Through Processing), and non-dealing desk (NDD) technologies, which offset them directly into the systems of the liquidity providers.
In terms of the availability of instruments, clients are spoilt for choice here. They can trade in various financial markets, including forex, commodities, stocks, and cryptocurrencies. Investors can easily spread their risk across multiple markets. Better yet, they will be trading with a broker regulated by the Cyprus Securities and Exchange Commission.
Further, the broker offers several types of trading accounts, including Cent, Micro, Standard, Zero Spread, and ECN. The smallest initial deposit is $1. FBS also provides various trading platforms, including MetaTrader 4 and MetaTrader 5, as well as a mobile trading app.
Finally, FBS provides clients with three different spread structures. Depending on the account a client is on, the spread can be floating, starting from 0.2 pips, or it can be fixed starting from 3 pips. Further, clients can trade on the zero spread account with 0.0 pips and pay a commission.
FXTM is one of the leading brokers in online financial trading and investing. ForexTime Limited is regulated by the CySEC, the FCA, and the FSCA. This broker supports a small minimum deposit of $10. Clients can trade CFDs on forex, metals, commodities, indices, and stocks. The platforms available to clients include MT4, MT5 and mobile trading apps.
The company offers three main accounts including the Micro Account, Advantage Account and Advantage Plus Account. The Micro account and the Advantage Plus account both feature spreads starting from 1.5 pips upwards. On the other hand, the Advantage account features average commissions of about $0.4 to $2 based on the volume.
For the vast majority of forex traders worldwide, it provides direct access to liquidity providers as well as automatic order matching and execution. This broker automatically matches and executes the requested orders at the best rates. There are no re-quotes because there is no dealing desk involved, and the client receives immediate confirmation.
Tickmill is one of the few NDD brokers that doesn't requote prices. With regulations from several organizations, Tickmill operates under strict financial laws. The company has regulations by the FCA in the UK, the CySEC in Cyprus, the FSCA in South Africa, and the FSA in Seychelles.
Tickmill offers multiple account types, including Classic, Pro, and VIP accounts. The minimum deposit amount on the site is $100. It also offers low spreads starting at 0.1 pips. Forex and CFDs on stocks indices, oil, precious metals, bonds, stocks and cryptocurrency are available for trading on this broker site. The company features this variety of markets to accommodate all kinds of traders. It also supports industry-standard platforms in MT4 and MT5.
The execution model used by Tickmill is intended to give customers a quick and secure trading experience. The hybrid execution model used by Tickmill, therefore, combines straight-through processing and market-making. With this model, Tickmill ensures no-requote trades and fast order execution.
FxPro is regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and the Financial Sector Conduct Authority. While regulations alone are not enough, licenses from the FCA and the CySEC are noteworthy.
FxPro has four main trading accounts: Standard account, Pro account, Raw+ account and Elite account. It offers floating spreads from 1.2 pips for major currency pairs on the Standard account. Clients can place orders using MT4, MT5, and cTrader trading platforms. The minimum Deposit is $100. With this, traders can buy and sell CFDs on forex, cryptocurrencies, metals, indices, futures, energy, and shares.
There are no requotes on the FxPro MT5 and FxPro cTrader platforms because Market Execution is used. However, in extremely volatile market conditions, you might experience requotes on the FxPro MT4 Instant accounts. By selecting the Standard Deviation checkbox at the bottom of the Order window, you can specify the pip range that will be made available to you in the event that the market price differs from the price you clicked, preventing requotes.
No requotes brokers assure their clients that their trades will be executed at the market price they place the order at. Such brokers achieve this by reducing delays in order execution. This is especially crucial in markets with high turnover because delays can lead to missed opportunities. Since there is no interference with the execution of your trade. Moreover, these brokers also offer greater pricing transparency.
Therefore, no requotes forex brokers offer good trading conditions with quick execution and increased transparency. They can also reduce trading costs. As such, they are a desirable choice for traders seeking to enhance their trading experience and raise their chances of success.