The onboarding process for some of these prop firms is just abysmal; constant document resubmissions and vague rejections. Is this just the new normal for risk mitigation or are some firms just that incompetent?
I've definitely noticed a wide range in efficiency. Some firms seem to have it streamlined, while others feel like they're still figuring out their own KYC/AML processes, leading to the kind of frustration you're describing.
I've definitely experienced this with a few firms, it feels like a very inconsistent process across the board. Some seem to have it streamlined while others make you jump through endless hoops for what feels like basic verification. It makes you wonder if there's a lack of standardized practices or if their internal systems just aren't up to par.