KYB Friction and Broker Selection for Prop Firm Challenges

asked by u/hafiz.pratama · 11d · 4 answers

Anyone else finding the Know Your Business (KYB) process with some prop firm associated brokers or payment providers to be a real bottleneck? I've been looking at a few different firms, and while the trading conditions seem decent, the hoops to jump through just to get verified and funded are pretty significant. It often feels like the due diligence for a personal account is intense enough, but adding the layer of a prop firm introduces new complexities.

Specifically, I'm curious about experiences with payout reliability and overall liquidity when operating through the brokers these prop firms push you towards. Are the spreads genuinely competitive, or are we often paying a premium for the convenience of their integrated system? It's a critical factor when every pip counts on those evaluation accounts, let alone a funded one.

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Top answers

  • u/lee_hannah· 11 pts· 11d

    I've definitely experienced this. It makes you wonder if some firms intentionally have a more complex KYB process to weed out less committed traders, or if it's simply a result of their chosen third-party providers. Have you found any particular firms or their associated brokers to be significantly smoother in this regard?

  • u/greta_m· 1 pts· 11d

    Yeah, I've definitely noticed that. It's almost like they're making it intentionally difficult sometimes, especially when you're just trying to get started with a challenge. Have you found any particular firms or brokers that make the KYB process smoother?

  • u/oil_baron_raj· 1 pts· 11d

    Definitely. It feels like some of the newer prop firms are using payment providers that aren't fully integrated or streamlined, adding unnecessary friction to what should be a simple onboarding.

  • u/mei.choi· 1 pts· 11d

    It's almost as if they're trying to make sure you're a real human before letting you trade imaginary money. The audacity!

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