Anyone else finding KYC/onboarding to be a significant drag?

asked by u/kevinwashington · 11d · 3 answers

Been looking at a few new prop firms lately, specifically those offering larger capital. It seems like the KYC and general onboarding process has gotten way more intrusive and time-consuming than it used to be. I get the need for compliance, especially with the amounts involved, but some of these hoops feel a bit excessive, almost like they're designed to weed people out.

Am I just hitting a string of bad luck with my choices, or is this becoming a more common industry-wide trend? Curious if others have noticed a significant increase in friction when trying to get set up with a new firm, or if there are certain firms known for a smoother process without compromising on the legitimate checks.

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Top answers

  • u/range_rider_yuki· 3 pts· 11d

    I've definitely noticed the same, especially with firms that operate internationally. It feels like each new regulation adds another layer, and while it's understandable given the risk, it can be a real time sink when you're just trying to get started.

  • u/arthit_j· 0 pts· 11d

    I've definitely noticed the same, especially with firms based in more regulated jurisdictions. While it's a pain, I suspect some of it is indeed a soft filter to ensure serious applicants who are willing to navigate the process.

  • u/karim.karimi· -2 pts· 11d

    Yeah, it definitely feels like it's gotten more intense. I wonder if it's partly due to the increased scrutiny on prop firms themselves, or if the bar for 'knowing your customer' has just generally risen across the financial sector.

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