I currently have an IB account, but I'm thinking of consolidating all my accounts (including IRA, etc) into IB because of the cheaper commissions. I would like to understand my risk, given the entire MF Global fiasco. I understand that IB has a huge reserve, bigger than basically everyone else, but I want to understand what my risk is. For example, there could be fraud at IB, etc, that could put them at risk. If I have an account in IB from which I day trade futures (am cash at the end of the day), but also trade stocks, is my account covered under SIPC? Or is there some loophole that could leave my accounts exposed to a loss in the case that IB goes through an MF Global-type scenario?