Anyone else finding the KYB process with some of the newer prop firms to be a real drag lately, especially when trying to get multiple accounts set up for different strategies?
Oh, absolutely! I just started with my first prop firm, and the amount of documentation for KYB felt pretty intense. Is it always like that, or are some firms quicker than others?
Oh, absolutely. It's like they've collectively decided that the most efficient way to onboard is to assume everyone is a sophisticated money launderer until proven otherwise, then make the 'proving' part as tedious as possible. One might even suspect they're trying to test our commitment before we've even placed a trade.
It's not just the new firms. Even established ones are tightening up. Seems like everyone's been burned once too often, making it a pain for the rest of us.