Company

Spread

for EUR/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details
CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For No Requotes

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For No Requotes?

scored best in our review of the top brokers for no requotes, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

What are Re-quotes?

Re-quotes arise as a result of a delay between the initiation and execution of an order. During this processing delay, if the market moves, the price a trader requested to buy or sell a currency pair at may no longer be available from the broker and an alternative price will, therefore, be offered. The re-quote will usually be displayed on the trader’s platform, giving them the opportunity to accept or reject the new price, and continue with or discontinue the trade.

Execution delays may occur for a variety of reasons, including technical issues experienced when the trader uses a poor internet connection. They can also be prevalent when markets are fast-moving and volatile, such as during news releases.

Brokers who provide re-quotes tend to be dealing desk brokers who act as market makers, either placing the opposite of their client’s trade and gaining from their client’s losses, or hedging their client’s positions in order to prevent them incurring losses as a result of the client’s gains. Either way, this can lead to execution delays, and therefore re-quotes.

There are circumstances when dealing desk brokers may be preferred by a trader, and therefore re-quotes will need to be accepted as a part of their trading strategy. However, if re-quotes occur regularly and in quiet markets, it may be a sign that a broker is suffering from a lack of liquidity.

How Can Re-quotes Be Avoided?

There are ways a trader can protect themselves from re-quotes. No dealing desk brokers (NDDs) display the most competitive price quotes offered by the market or their ECN (Electronic Communication Network), and the order is automatically executed at the best price available. Traders may, therefore, opt for ECN / STP (Straight Through Processing) brokerages to have their order executed in the quickest time possible, reducing the necessity for re-quotes.

Most ECN / STP brokers actually operate on a market execution basis, rather than an instant execution basis. What this means is that rather than the broker presenting a re-quote, the trade is simply placed at the best available price in the market at the time the order is processed. This will not necessarily be the price that the trader has seen on their platform, and they will not be given the opportunity to accept or reject the new price. However, trades are processed much more quickly – often within milliseconds, and if a price change does occur, it should be noted that although it can negatively affect the trader, they could also potentially benefit from the price becoming more favourable.

Setting deviation parameters on the trading platform can also help to avoid re-quotes as this would authorise the broker to accept a higher price if markets move, without them having to return to their client for authorisation to place the trade at the new price.

When using a dealing desk broker, a trader may also set take profit and stop loss levels before entering the trade. The take profit (TP) level ensures that a trader’s position is closed if their trade reaches a target price and stop loss (SL) level ensures that a position is closed before a price goes below a particular level. Both of these predetermine the price at which the order will be sold at (unless the client decides to sell before these levels are reached), which means that re-quotes will not be relevant. Traders are not able to set stop loss and take profits levels when entering into a trade if a broker is using market execution.

Should Re-quotes be Avoided?

Whilst brokers can benefit from re-quotes, traders are unlikely to be offered a requote with a more favourable price. Generally speaking, a broker will offer a re-quote when the markets have moved to their disadvantage. However, regulated brokers do have a duty to take every reasonable step to obtain the most favourable outcome for clients, which should mean that requotes are kept to a minimum.

Traders may still wish to avoid re-quotes as they can potentially mean missing out on a good trading opportunity. Even when a re-quote is accepted by the trader and a subsequent order placed at the new price, there may be a delay while this order is being executed, during which time the markets may have moved further, and a new re-quote will be required. When the trade is carried out on a market execution basis, this series of delays will be avoided as the best available price will be applied automatically, and trades will, therefore, be executed much more quickly.

How to Find Brokers with No Re-quotes

Using ECN / STP brokers that offer real-time execution of orders will help to avoid re-quotes and losses from slippage. The broker should be using advanced technology to ensure orders are being processed as quickly as possible, and transaction speed can be tested by setting up a demo account.

Using a regulated broker is also recommended as this will mean that they are subject to regulations that prevent them from taking advantage of their clients through re-quotes.

Since 2010, regulated broker, XM, have offered 100% execution of orders, with no re-quotes and no rejections.

Other regulated brokers with no re-quotes include FXCM, who aim to process orders within milliseconds, and FXPrimus, who offer no re-quotes on their ECN Premier Spreads.


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