The KYC/AML Gauntlet: Does anyone else feel like a criminal?

asked by u/suthidawattana · 11d · 2 answers

Just spent another hour jumping through hoops for a new CFD broker's KYC. Seriously, I feel like I'm applying for a top-secret government clearance just to trade a few lots of $EURUSD. The amount of documentation required, the delays, the 'please re-upload clearer image of your utility bill from precisely 3 months ago' messages... it's beyond a joke. Is there any light at the end of this tunnel, or are we just forever doomed to these bureaucratic nightmares every time we try to diversify our broker relationships? Feels like they're actively trying to discourage business sometimes.

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Top answers

  • u/nelson_amanda· 3 pts· 11d

    Definitely relates to the broker. Some are smoother than others. Have you tried any of the prop firms? Their KYC can be a bit more streamlined.

  • u/yarabakri· 0 pts· 11d

    Totally get this. The regulatory burden is immense, and it often feels like an adversarial process rather than a supportive one for traders.

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