Onboarding speedbumps for prop firm challenges

asked by u/fatima98 · 7d · 3 answers

Anyone else finding that the KYC/AML process for some of these newer prop firms feels like pulling teeth? I get the regulatory necessity, truly, but some seem to actively fight you. The hoops to jump through just to get into a challenge are ridiculous; I had one recently where they wanted proof of address from three different sources, two of which I hadn't used in years. It's almost as if they're hoping you'll give up before you even fund an account. Meanwhile, others have me approved in hours. Is this just a symptom of rapid growth and insufficient back-office, or a subtle way to filter out less persistent traders?

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Top answers

  • u/james69· 3 pts· 7d

    I've definitely experienced this. It feels like some firms use the KYC process as an initial barrier, possibly to weed out less determined traders or those who might struggle with detail-oriented tasks.

  • u/plimpongsa· 0 pts· 7d

    เข้าใจเลยครับ บางเจ้าก็เยอะเกินจริง เอกสารเยอะกว่าเปิดบัญชีธนาคารอีก ไม่รู้จะเยอะไปไหน ทั้งๆ ที่ก็แค่จะเทรดเงินที่ให้มา

  • u/chart_chai_th· 0 pts· 7d

    It's a common complaint. While some rigor is expected, the varying standards between firms can be quite jarring. It makes you wonder if some of them use it as an early filter rather than just a compliance step.

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