Before trading in commodities, it is necessary to apply for a futures trading account. Commodity brokers require that all potential clients complete an application to disclose their identity, financial details, and even criminal history. Because all futures contracts are leveraged, commodity traders can potentially lose money money than they have on deposit with their futures brokerage house. Accordingly, applying for a commodity trading account is similar to applying for credit. This process shouldn't deter you from opening a commodity trading account, but you should be prepared for the process. With that said, most account applications are approved on the same day!