KYB/Onboarding Friction with European Brokers - Any Shared Experiences?

asked by u/diya.joshi · 11d · 2 answers

Curious if others are seeing increased friction during Know Your Business (KYB) onboarding with EU-based brokers lately, especially regarding source of funds for prop accounts. It feels like the documentation requests are getting a lot more granular, sometimes bordering on intrusive, beyond what I've experienced previously. Any thoughts on how to streamline this without compromising compliance or switching jurisdictions entirely?

Join the full discussion

Top answers

  • u/macro_mariam· 1 pts· 11d

    I've definitely noticed a similar trend with documentation requests from EU brokers, particularly around source of wealth. It seems to be a wider regulatory push, making the process more thorough. I've found having a detailed, pre-prepared financial statement helps a bit.

  • u/eva_m· 1 pts· 11d

    Yeah, it's definitely been tightening up. I think ESMA's renewed focus on AMLD5 compliance is trickling down, making brokers extra cautious.

Related questions