Yes. Commodity trading uses leverage to create the potential for big gains. Any time you leverage an investment, the risk level goes up a lot. You may be able to control a large amount of futures, like $100K for a $5K investment. But if prices drop even a bit you lose everything.

Unless you have "insider" information, then you are in "essence" gambling.

As an 'outsider', all information you receive is 2nd hand at best. Someone has known about the info "you just received" for hours, days or weeks. They have had an opportunity to make "moves" in anticipation of "your" and all "gamblers" in your position moves.

Stick to handicapping horse races. Your results will, probably, eventually be the same.

Any speculative trading is risky be it commodity, currency, stock or bond. You can invest on debt based instruments where you have fixed return and no risk.

It's just posh gambling so of course it's risky.