What traders should know about CFD risk levels

When I started reading about CFDs, I thought they were just another way to trade without owning the asset. But the more I looked, the more I saw risk warnings everywhere. It says that CFDs are complex instruments and that more than 75% of retail accounts lose money trading them. On top of that, leverage can increase losses beyond the original investment. For traders, it makes me wonder what exactly we should keep in mind about these risk levels before even opening a position.