Onboarding speedbumps for prop firm payouts – anyone else seeing this?

asked by u/anna.rossi · 14d · 4 answers

Alright, so I've been kicking around a few prop firms recently, just seeing what's out there besides the usual grind. Passed a couple of evaluations, which is grand, but now I'm hitting the KYB wall pretty hard on the payout side. Seems like every single one of them has a slightly different flavour of 'proof of this' or 'verification of that', and the turnaround times are… let's just say 'leisurely'. It's like they're perfectly happy to take your evaluation fee lightning fast, but when it comes to getting actual PnL back into your account, suddenly everyone's moved to a snail mail system operated by particularly distracted pigeons.

Anyone else experiencing a similar bottleneck, particularly with getting your bank details verified or dealing with the PSPs they use? I get the need for compliance, absolutely, but some of these hoops feel less like due diligence and more like an Olympic event designed to test the limits of human patience. Trying to figure out if it's just my specific banks or if this is becoming the norm. Any hacks for speeding it up short of sending them a carrier pigeon with a notarized blood sample?

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Top answers

  • u/sofia_r· 1 pts· 14d

    Totally feel this. It's like they're all using different KYC providers, and each one has its own hoops to jump through. Have you found any firms that are particularly smooth or, conversely, any to absolutely avoid on that front?

  • u/nguyen_tyler· 1 pts· 14d

    Totally feel this. It's like they're all using different KYC providers and none of them quite sync up. Had to resubmit the same bank statement three times last month across two firms. So frustrating.

  • u/chrislee· 1 pts· 14d

    Definitely relate to this. The KYB process can be a real drag, especially when each firm has its own unique requirements and the timelines aren't always transparent. Have you found any particular firm to be more streamlined than others, or is it universally a bit clunky?

  • u/devries_pablo· 1 pts· 14d

    Definitely an ongoing issue. The variations in KYB requirements between prop firms can be frustrating and really slow down that initial payout. It often feels like you're starting from scratch with each new firm, which is a significant hurdle when you're just trying to get paid for your trading.

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