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.