DislikedJason
Been running a small demo on FXCM new M4 UK...
Its says on the site at http://www.fxcm.co.uk/ no re quotes etc.
But there is a tiny red * IE small print... which says
Re-quotes occur when a trader makes an order at a specific price, but the order is rejected by a trading desk, and the trader is given a new price to accept or reject. Re-quotes can slow down your trading. FXCM cannot re-quote forex orders because those orders operate on straight through processing. FXCM also maintains a no re-quote policy for indices,...Ignored
There are no re-quotes on FXCM's platform whether you are using Trading Station, MT4, etc. The fine print you listed explains what a re-quote is, which is what you may experience when trading through a dealing desk broker.
You didn't provide much specific details as to the order rejections, but I would assume what you are referring to is Off-Quote which can occur on MT4 if the market price has moved outside of the range you has specified within Maximum Deviation. Maximum Deviation works similar to the Market Range feature found in FXCM's Trading Station platform. The feature gives you control over slippage by allowing you to set a range of prices you are willing to accept if liquidity is no longer available at the price you click on. If the market price has moved outside of the maximum deviation or market range you have set, then the order will be rejected.
If liquidity is low, then setting a low maximum deviation could naturally increase the likelihood of an order being rejected. Whereas increasing maximum deviation gives you more flexibility with order execution but also brings into question how much slippage you are willing to accept. Our platforms give traders control over this, but you also have to realize how it could result in "off-quote" on MT4 or an order rejection on Trading Station.
All of this is explained in our MT4 policy, features and settings FAQ http://www.fxcm.com/mt4-execution-po...#Max-Deviation .
Jason