Seg accounts just give you the priveledge of having yr money stolen last. In the event of a FCM defaulting yr money is gone. They will pay off the banks first and other big creditors, using yr money to do so if needed. This 700m missing from MF accounts? Who is going to re-imburse this? The govt? Warren Buffet? Some charity that has a soft spot for traders? ITS GONEEEEEEE! When you place yr cash with an FCM look at it like this, you are buying shares in that FCM. If the company goes bust the shares go to zero and yr money goes to zero with it. Always surprises me how traders dont take the choice of who they clear through seriously. Most don't even read the contract they sign ... have a look at the smallprint one day ... that'll give you a shock!