Yah! What he said. Why do you think stocks require 100% margin? I think what the Stock pickers do not understand is that stocks can go to zero, commodities cannot. Stocks can and do go to nothing. Nobody needs a share of stock. You canÃt eat it. You canÃt fuel your SUV with it. It is not accepted as a medium of exchange, anywhere. A Stock can be the greatest in the world, (AAA rated, 50 years all dividends paid out of earnings,) one day. Flat broke and in debt the next. The board can give the wealth to shareholders in the form of dividends, or keep it for themselves. You have no say in it. There is nothing you can do about it. Commodities on the other hand are the basis of all wealth. The commercials are not going to buy grain one day, then not buy it at an extreme discount the next. Commodities cannot go to zero. People have to eat. So, put it together. Nobody needs a share of stock, Commodities cannot go to zero. Which would you rather own. In fact most stocks do eventually become worthless. What are the odds that the few that are still around wonÃt? The margin on commodities varies but it is usually a tiny minuscule amount, because the commodity represents real wealth. The margin is the variable amount of that wealth. The less the margin the less the risk. The margin on stocks, representing its speculative value is 100% because stock certificates are in essence worthless. They may represent a call on future earnings, but there is no guarantee that they actually will occur or that management will give you a slice. Supply and demand for share certificates is all you have really.