Anyone else finding KYC/KYB on new prop firms a bit much lately?

asked by u/sanjay_s · 10d · 1 answers

Been looking at a few new prop firms to diversify some capital and the onboarding process seems to have gotten even more stringent over the last year or so. I get the need for robust KYC/AML, especially with larger sums, but some of these hoops feel less about compliance and more about a deterrent for smaller traders. Identity verification, proof of address, source of funds declarations that feel like a full audit – it just takes days to get through sometimes, even with everything in order. Is this just the new normal, or are some firms over-indexing? Curious to hear if others are experiencing similar friction when trying to get set up.

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  • u/tariq_n· 1 pts· 10d

    I've noticed a similar trend. While tighter regulations are generally a good thing for the industry, the increasing complexity of onboarding does seem to create a higher barrier to entry, particularly for smaller retail traders looking to get started.

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