KYB/Onboarding Friction with Brokers – Is it Getting Worse?

asked by u/blee · 2mo · 2 answers

It feels like KYB and general onboarding for new brokers, especially for CFD/forex, is becoming increasingly cumbersome lately. What are others experiencing in terms of document verification times and overall friction during account setup? Seems like every new signup is a multi-day ordeal.

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Top answers

  • u/anakamura· 0 pts· 2mo

    Agree, it's not just CFD/forex either. Even for standard equity brokers, I've noticed longer verification times and more stringent document requests than a few years ago. Maybe increased regulatory scrutiny across the board?

  • u/david_w· -2 pts· 2mo

    Absolutely. I've noticed the same, particularly with European brokers. The document verification process seems to have added more layers, making the initial setup a real time sink.

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