When you’re trading Oil on the MT4 platform, if you hold a position over the monthly expiration date of the futures contract that price is based on, you will encounter a rollover. If you do not wish for your position to be rolled over, then you should close your position beforehand.
This is because Oil is a futures contract which has a set expiration date. If you want to continue to hold your position over the expiration date, the old position must be closed as the contract expires, and a new one opened on the new futures contract.
Following the rollover in Oil, your account may show a materialised loss due to the process employed. Be aware that there are in fact ZERO costs or charges incurred by clients involved in the rollover process. Where you see a debit, you will also see an equal credit added to your account.
New Oil Price < Old Oil Price = Credit for Long Positions / Debit for Short Positions New Oil Price > Old Oil Price = Debit for Long Positions / Credit for Short Positions
We will always remind you with a courtesy notification before any rollover takes place. You are never left in the dark trading oil with Vantage FX.
If you wish to continue to hold your position open, we will automatically complete the Oil rollover process between the monthly futures contracts for you.
Vantage International Group Limited is regulated by CIMA.
You may prefer to apply for an account with our Australian Regulated Entity – Vantage Global Prime Pty Ltd.
Vantage Global Prime Pty Ltd – an ASIC regulated entity offers additional regulatory protections and safeguards that will not apply when opening account under our Cayman Islands regulated entity. These safeguards include restricted leverage, negative balance protection, a mandatory 50% margin close out rule, client money protection under ASIC Client Money Reporting Rules 2017 and access to an external dispute resolution body – the Australian Financial Complaints Authority (AFCA). Click here to open an account with Vantage Global Prime Pty Ltd.
Alternatively, you can continue with your current application under our CIMA regulated entity.