ELby u/emily_lee·11dDiscussion

Anyone else finding prop firm onboarding more KYC than trading lately?

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Starting to wonder if I've stumbled into a new career as a document manager. Seems every prop firm I look at these days has an onboarding process that rivals applying for a mortgage, all before you even get a chance to prove you can, you know, actually trade. The KYC hoops are understandable to a point, but some of the hoops feel less about regulatory compliance and more about deterring anyone who isn't already perfectly liquid and fully documented from birth. It's a real friction point, especially when you're just trying to get funded and test their platform.

Then there's the whole broker/PSP integration aspect. You'd think with the explosion of prop firms, the backend infrastructure would be a bit more streamlined. Instead, it feels like a constant battle between varying spreads on what should be the same instrument, unexpected fees popping up, and the perennial question of payout reliability. It's not just about finding a firm with a good challenge; it's finding one that doesn't make you jump through a flaming hoop to access your own earnings. Makes me nostalgic for the good old days when the biggest headache was just reading the fine print on a margin agreement. Anyone else have similar experiences or found a firm that actually makes this whole process feel less like a bureaucratic nightmare and more like a path to trading?

1 comments · 1 points
TNu/tariq_n·11d

Definitely noticing this too. It feels like some firms use the extensive KYC as an initial filter, rather than a necessary compliance step.