They are not very liquid, However, it may be a way to get around the 25k reg T requirement? One reason I am considering it is that one can choose a smaller bite on a small stock that index futures. For example, trading SPY futures is a smaller bite than trading ES, and still not be limited by the 25k requirement of trading SPY itself? My purpose is to get around the 25k day-trading limitation. I don't care for leverage, I just want to get my feet wet. Please if you have traded them, what are the pros and cons. Thanks.