Definition - What does Fictitious Quote mean?
Fictitious Quote is a quote which is not representative of an actual bid or offer for a security.
Testopedia explains Fictitious Quote
Fictitious Quotes are entered only for manipulative purposes and are a violation of FINRA and SEC rules. A broker dealer may not enter a quote for a security which is not representative of price at which the dealer is willing to buy or sell a security. Nominal quotes would not be considered to be fictitious quotes as these are clearly identified as being for informational purposes only