MCby u/mei.choi·1hQuestion

Anyone else finding prop firm onboarding KYC a real drag lately?

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Been looking at a couple of new prop firms to diversify a bit, and the Know Your Business (KYB) side of things is feeling like a real bottleneck. It’s not just the standard ID stuff, but deeper dives into source of funds, business structure, even going back and forth on proof of address for a few days. Totally get why it's there – compliance, anti-money laundering, etc. – but the inconsistency between firms is wild. One firm practically fast-tracked me; another feels like pulling teeth with follow-up requests that sometimes seem redundant. Makes me wonder if some are just better at streamlining the process, or if the underlying PSPs they're using have different hoops. Anyone else experiencing this, or found a prop firm that's genuinely smooth on the onboarding side without compromising on the payout reliability later?

2 comments · 8 points
MWu/min_wu·1h

Yeah, it's definitely gotten more rigorous. I wonder if it's partly due to the increased scrutiny on the prop firm industry itself, or just a broader tightening of financial regulations across the board.

JIu/jansen_ines·1h

It's a necessary evil, frankly. The regulations aren't getting looser, and it only benefits us in the long run to have the firms properly vetted. What specific bottlenecks are you hitting?