Vantage Fees: Overnight Charges and Currency Reconciliation

How do I distinguish Vantage commission, swap and currency effects on a statement?

Reconstruct the cash movement by cost type, account currency and broker time. Reconcile partial closes and separate rebates without counting the same economics twice.

Work through a hypothetical overnight statement

Assume a USD account opens and later fully closes a position of 0.40 lots. The following figures are illustrative accounting inputs, not a promise of Vantage pricing or investment performance. Suppose the realised price result is positive twenty-four dollars, entry commission is 1.20 dollars, exit commission is 1.20 dollars and the statement records a holding charge of 2.40 dollars.

The net balance contribution is 24 minus 1.20 minus 1.20 minus 2.40, which equals 19.20 dollars. No additional spread deduction belongs in this cash calculation if the price result already reflects the executed bid and ask prices. With no other transactions or transfers, the corresponding balance increase should be 19.20 dollars.

If your account increased by a different amount, look for an omitted entry, a charge posted outside the selected interval, an open position mistakenly included in realised results or a transfer grouped with trading activity. The arithmetic identifies what needs explaining. It does not establish that a fee is correct merely because it appears on a statement.

Begin with the balance movement you need to explain

Choose one account and a defined reporting interval. Record its opening balance, closing balance, deposits, withdrawals and realised trading results. Keep equity separate: a position that remains open can change equity without producing a realised balance entry. If your worksheet compares the closing balance with an equity screenshot, an unexplained difference is almost inevitable.

Now identify the legal entity, account type, account currency and complete instrument name. A familiar symbol abbreviation is not enough if the broker offers different contracts or suffixes. Save the original statement before changing its labels or converting currencies. Your working copy can contain calculations, but the original should remain available when support asks what was actually posted.

Read a commission quotation within its scope

The Vantage commission schedule separates account currencies and product categories. Its USD RAW ECN forex example lists three dollars per lot per side, or six dollars for a round turn. That is not a universal charge for every currency, contract or account. An amount expressed in account-currency units cannot be treated as the same purchasing value in every account.

The quotation explains a pricing unit. The statement explains a particular transaction. When those appear inconsistent, first check the unit, product and account rather than replacing the statement value with the number you expected. Actual charges can then be investigated against the applicable schedule without disguising the discrepancy.

Build a cash ledger before a cost comparison

Use separate columns for realised price profit or loss, execution commission, holding charges and other documented adjustments. Include only entries that actually exist. Do not invent an administration fee because another broker uses that name, or assume that a swap-free label removes every possible trading cost.

A spread is normally reflected in executed prices. If the realised price result already uses those executions, subtracting an estimated spread again will double count it. An analytical comparison may estimate spread cost to compare quotations, while a cash ledger should reconcile actual posted movements. Both worksheets are useful, but they answer different questions and should carry different titles.

Match holding charges to the broker's clock

Record entry and exit timestamps with the server time zone. Your laptop's local calendar date may not match the broker's trading date. A position that appears to have been opened and closed on one local day can still cross a relevant server cutoff. Check the instrument's applicable holding conditions rather than inferring the result from your own midnight.

Do not automatically assign a particular multiplier to a weekday or reuse last month's holding rate. Long and short conditions may differ, as may instruments and account arrangements. Vantage's explanation of trading costs and swap-free accounts is background material; the applicable account documentation and recorded charges determine the enquiry you need to raise.

If a particular account is described as swap-free, ask which costs are waived, which conditions apply and whether any other documented charge remains. Do not insert a substitute fee into the ledger until you have evidence that it applies to that account. Keep the answer and its effective date alongside the statement.

Currency conversion needs its own evidence

Four Australian dollars of commission and three US dollars of an estimated price difference do not total seven interchangeable dollars. Convert them to a common reporting currency before an analytical comparison, and label the exchange rate and observation time used. A hypothetical conversion rate is not evidence of the broker's actual conversion method.

For cash reconciliation, prioritise the amounts posted in the account currency. If you retain both the original currency and converted amount, mark one as a supporting reference so that the total includes the charge only once. Preserve rounding precision until the final presentation step. Small differences can otherwise be created by the spreadsheet rather than by the broker.

Where a conversion entry remains unclear, leave it unresolved instead of choosing a convenient rate that forces the balance to match. The useful support question specifies the original amount, currency, posted amount and transaction identifier. It asks for the conversion basis rather than asserting an unsupported error.

Partial closures and reporting boundaries

Suppose only 0.10 of the original 0.40 lots has closed. Identify the exit deals associated with that portion and keep the remaining position's floating result outside realised cash totals. If you allocate an opening charge across several exits for analytical purposes, the allocated pieces must add back to the original charge. Never count the whole opening commission against every partial exit.

A monthly report also needs a clear boundary. A position's lifetime holding cost differs from the amount charged during one month. A fee posted just after month end may relate to activity inside the earlier period. Preserve both the activity date and posting date when available, and ask support which interpretation the statement uses before moving entries between months.

Keep customer cashback outside the broker ledger

TradePayback customer payments are separate from the broker's commission calculation. Confirm the actual payment, settlement period and eligible activity rather than subtracting an expected rebate to hide an unexplained difference. The Vantage detail page provides centrally maintained signup information and displayed conditions. Use the contact page for attribution and customer settlement enquiries.

TradePayback may receive partner compensation. That does not make every broker charge eligible for a customer rebate or prove that an arrangement follows a new account number. Keep broker charge verification and customer payment verification as distinct records. The distinction makes an enquiry easier to answer without relying on a headline percentage.

FAQ

Why is my total cost above the quoted round-turn commission?

A scoped forex commission quotation does not include every possible spread or holding cost. Identify the actual account, product and documented statement entries first.

Should I subtract spread again from realised profit?

Not when executed prices already reflect it. Keep a hypothetical execution-cost comparison separate from the ledger used to reconcile posted balance changes.

What should I send when the figures still do not match?

Provide the account number, reporting interval, instrument, deal identifiers, currencies, recorded charges and calculation. Passwords, authentication codes and account access are unnecessary for describing the discrepancy.