CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Is there more risk involved in trading a CFD over trading the underlying asset?

Trading with higher leverage means there is a greater risk of loss, as well as potential for profit. Depending on the amount of leverage used, small moves in a CFDs price could generate significant changes in an account balance.