ArchAngel I think you are right, the props push the use of leverage, but they don't mention that your risk capital is still what you start with. If someone lends me 100 million bucks but I can only afford to lose $100,000 then my positions are still going to be small. I used to be a commodity broker so I know all about futures leverage, you are right that 5% (20x) beats the heck out of 50%(2x). Plus earning money on your tbills is a sweet kicker. Single stock futures will come in at 20% leverage and will probably be lowered later down the road. Having switched over to stocks, the advantage I see in equities over minis is the ability to swing both ways at the same time. I can have a stable of strong longs and weak shorts, play them against each other, and put the difference in my pocket. When you are trading the mini you get one direction and that's it, you can't insulate your position against vicious reversals and swings. Playing both sides against the middle allows for better overall consistency and lower drawdowns in rough periods.