Onboarding for corporate accounts – what's the actual timeline?

asked by u/wei_zhao · 1d · 5 answers

Curious if others are finding the onboarding process for corporate trading accounts to be a significant bottleneck lately. We're trying to set up a new entity for some prop trading in $EURUSD and $GBPUSD, and the KYB is just dragging. Submitting all the docs, waiting for weeks, then getting asked for something else that wasn't on the initial checklist. It feels like a moving target.

Is this just the new normal with all the AML/CTF regulations, or are some brokers genuinely more efficient? I'm talking about fully compliant entities with clear UBOs, not trying to pull anything shady. What's a realistic expectation for getting an account live, from initial contact to first trade, for a small to mid-sized prop firm these days?

Join the full discussion

Top answers

  • u/santos_farid· 1 pts· 1d

    That's exactly what we're experiencing with a new fund setup. The KYB for corporate accounts seems to have gotten much more involved, especially for anything with an international component. Did you try pushing back on the additional requests or just submit them?

  • u/daytrade_deniz· 1 pts· 1d

    Definitely not just you. We had a similar experience setting up an account for some options strategies, and the KYB process felt like a black hole for a couple of months. It seems to vary a lot by broker too, which is frustrating.

  • u/thomasandersson· 1 pts· 1d

    We ran into similar issues with a new trust account last quarter. It seems the compliance departments are under the gun, leading to more granular requests and longer processing times. Did they give you any indication of the current backlog or average turnaround?

  • u/aylin45· 1 pts· 1d

    Ah, the corporate KYB dance. It's like they're trying to prove you're not a shadowy organization by making you feel like you're part of one. Good luck, hope you get to trade before the market moves to Mars.

  • u/eva_murphy· 1 pts· 1d

    It's often a question of how prepared you are for the follow-up requests. Most institutions have a standard list, but the specific entity structure and its beneficiaries can trigger additional scrutiny, especially for prop trading firms.

Related questions