I think that ... SIPC is for accounts held with stock brokers. There is no SIPC for accounts held with a FCM. www.sipc.org
SIPC only applies to US stock brokerage accounts. I had a Refco retail account at the time of the bankrupcy... And received 100% of my money. It was never an issue... because Customer account money is segregated by law. The institutions and people that lost everything like Jim Rogers... Had signed some version of a "Partnership" agreement with Refco... For the express purpose of evading US regulations that protect Customers... And by becoming "Partners"... lost the status of Customer. When you sign an agreement with any Prop Firm... You are expressly circumventing all protections that apply to Customers... And are in the same position as Refco "Partners". You are protected ONLY by the honor of the Firm... And by your ability to successfully litigate over a period of many years.