Why did you put Banishing Light and Perilous Vault in the same deck. Can you take a look at my version of this deckhttp://tappedout.net/mtg-decks/14-02-15-uw-control-fate-reforged-competive/

Why only 26 lands? You play an Ugin and I think 27 is a better number. And I agree with Reprisal on the vault and banishing light. I'd remove the vault and add another light.

The choice to go with 26 lands is simply because in all initial playtesting I've made with the deck, 26 has sufficed perfectly, and I rarely seem to have mana issues, except in extreme scenarios such as a bad starting hand.

Secondly, Im not sure why Id take out the Perilous Vault? It provides a reliable control mechanism. I can lay it down turn 4, and then if the board state begins to favour my opponent, I can fire it off whenever I need, whereas if I were to just have a Banishing Light, I may not be able to clean the board state with a singular exile?

I suggest you research the work of Jim Davis, he has been playing the archetype to some pretty good finished on the SCG circuits.

I'd say that you have to many win conditions mainboard, I would quite happily bring it down to 4, 2 Elspeth, 2 Narset and 1 Pearl and 1 Ugin.

Vault is unnecessary.

If you activate Perilous Vault with a Banishing Light on the board, your opponent will get his permanent back with an otherwise cleared board state. You could get yourself killed that way.

I suggest Anticipate over Divination.

With the rise of GW Devotion, vault has become better. I also saw that AEtherspouts works well against them.

You should reaaaally put in Dragonlord Ojutai. Practically essential.

if you really want Perilous Vaults mainboard, you can do that and instead of Banishing Lights use Devouring Lights

Why no Anticipate? And why are you using Reality Shift?

Because killing a resolved Stormbreath Dragon is important.

Seems totally unreasonable to have a card, which does everything you don't want in a control deck, just to fight Stormbreath Dragon. It will always be carddisadvantage. Encase in Ice in the sideboard does the same job better.

How? Chances are they will have enchantment removal for your Banishing lights in sideboarded game. Which makes the Encase weaker.

How is Reality Shift always card disadvantage? In terms of 1-1 removal you are sort of correct. Shift is a 1 for 2. But that isn't the only thing to consider, Stormbrearh is the best card against you, Its super hard to deal with.

Every other creature in the deck is worse or easier to deal with, And flipping any non creature is hilarious. This isn't Modern, Answers arent as efficient.

You argue that enchantment removal makes Encase in Ice weaker than Reality Shift. By that reasoning you would also have to say there should be more Reality Shift and less Banishing Light?

Wasn't meant to be an arguement.

And yes, After sideboard in specific matchups Reality Shift is better.

It comes down to variance, Sometimes card a will be better than card b.

We'll just have to disagree. I would never run a card that trades 1 for 2 in a control deck.

Yes, most decks will sideboard enchantment hate in. But if we don't run Encase in Ice it will just hit our Banishing Light. There's only so much enchantment hate in a sideboard, so running more enchantments honestly makes each of them better, because they won't have answers for all of it.

I have to agree banishing light is bad not only with vault but also with your ugin

Just some advise from a die-hard control player. I think banishing light is bad in this format in general to begin with. In this case as was already said it interacts poorly with ugin and vault and the fact that enchantment removal is so prevelent. Also it only works at sorcery speed and asks you to tap out on your main phase. You seem to have a lot of counterspells and 0 instant speed removal spells as well. Note, reality shift isn't really a removal spell. You won't be able to deal with really aggressive decks curving out at 3 or even 4 nor will you be able to deal with ramp decks as they will land permanents right underneath your counterspells early. As a result you will need to tap out on your turn for banishing light and will not be able to counter spells on the following turn. You need some number of last breath, valorouse stance, and devouring light to deal with these early threats. Although splashing for black would give you access to better romoval and let you use more scry lands and fetch lands witch are also good with narset as well. Also I agree with adding Ojutai, there isn't a better threat in UW in general and the card advantage he gives you is crazy ridiculous. And I would seriously consider adding a 27th land. Missing land drops when you need at least 5 mana for a sweeper is usually a game ender. As for stormbreath dragon, reality shift is a nice thought in theory; but the reality (pun definitely not intended whatsoever) it is better to side out some expensive spells, board in disdainful strokes, and make sure it never resolves. Stormbreath dragon is first and formost a UW hoser from the sphinx's revalation era, and I believe it is part of the reason the archetype hasn't preformed well this year. UB based decks can deal with it and has much better removal in general. Not trying to be overly critical just lying down some cold hard facts. I have tried every conceivable control deck in this format up to DTK released just to list a few: UWR, UWG, UWB, RUG, BUG, UW, UB, and UBR. Really they all under perform a bit. It's just an environment best suited for Aggro/Midrange at the moment!