Slippage and requotes

[Urum]

I understand that that brokers can't always execute the order at the ordered quote and so there is slippage. I was wondering what is the usual slippage that you get, and also what is the biggest slippage that you've seen?

Because I can accept a 1 pip or 10 pips slippage but 20 pips is really beginning to mess with my head

 

[RahmanSL]

Slippages & Requotes differ from broker to broker but, as a matter of course, those bucketshop brokers will have larger slippages & more requotes.

I suggest you read "brokers reviews" here at the FPA (top left hand of this page under Reviews& Ratings) and read what traders have to say about trading conditions of their brokers...including slippages & requotes.
You can also join in the live discussion forum (also right here at the FPA) dedicated to individual brokers and ask other traders about trading conditions of these brokers.

 

[Urum]

I've read the reviews, and it seems like all brokers do re-quote. And since I've only traded demo and thinking about going live I have no idea what it looks like. And that's what I'm asking you more experienced guys to give a sense of what re-quotes are like. Because when I go live I wanna know what I'm getting in to

I'm not asking you to say broker so and so did this to me or that to someone... I'm asking generally how big re-quotes are among established regulated forex brokers?

 

[RahmanSL]

"...I'm asking you more experienced guys to give a sense of what re-quotes are like. Because when I go live I wanna know what I'm getting in to".

That is almost exactly what I asked some 2 years ago when I first started out with lots and loads of questions and anxieties about how a live account will be like compare to demo

Well, I don't see that much different except, of course, in Demo you almost always make money coz we are given huge starting capital which easily ride out any initial losing trades.

Just make sure you don't over trade your account funds size and you will be alright. I mean, if you start with usd100, don't go placing 0.1 lot size trades as your account will get wiped out if the trade goes against you.

Most of the reasonably well rated (those with above 3.5 stars) brokers are okay and slippages & requotes are to be expected from time to time especially in volatile and fast moving market.
In ECN account, they say there is no requotes and this is true, but in fast moving/volatile market, you get the price which can be filled by the liquidity provider and the price might be in your favor or not.Slippages (with most fairly good brokers) are between 1 to maybe 10 pips and, as I said, it might be in your favor.

My advice to you is to start a micro account (usd25-100) and test out real trading condition as that's the only way to fast track the learning process.
Try to have some fun and take a liking to trading the forex and not be so engrossed in making profits that it becomes a job!

Good luck in your forex journey which ALL of us have to take!

 

[jpadventure]

I've only had requotes through various demos and won't accept them. I don't believe these brokers will last long if they don't have enough liquidity to fill an order.

I get 1- 1.5 pip spread and 2-5 pip skid is common. Anything higher should have an obvious source, like a Greece thing for example.

 

[Pharaoh]

Some slippage and requotes are inevitable. It's not always lack of liquidity. Price does change quickly and it does take a fraction of a second for you to hit the Buy or Sell button. A fast internet connection can help reduce slippage and requotes, but there's no way to 100% avoid them.