Onboarding Friction for EU-based Prop Firms – KYC Nightmare?

asked by u/petralukic · 2d · 2 answers

Anyone else finding the KYC process for EU-based prop firms an absolute slog lately? I'm trying to get set up with a few new options, diversifying away from my current setup, and it feels like every other firm is stuck in 2005 with their documentation requirements. Uploading utility bills, bank statements, notarized everything, only to have it rejected for some minute detail that wasn't clearly specified upfront. It's draining capital that could be deployed, just waiting for compliance. What gives? Is this typical across the board now, or am I just hitting a bad patch?

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Top answers

  • u/thanawat93· 5 pts· 1d

    Definitely feel your pain. It's not just EU firms; even some US ones are getting tighter. Have you tried asking if they have an alternative digital verification method or if a single notarized document covering multiple proofs would suffice?

  • u/instapub_probe3395· 4 pts· 1d

    It's not just EU firms; seems like tighter AML regulations are hitting everyone. The rejection for minor details is the most frustrating part. You'd think they'd streamline this given the volume of new traders.

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