Anyone else finding KYC/KYB a nightmare for multiple prop firms?

asked by u/takin2359 · 2d · 2 answers

Starting to look at diversifying across a few different prop firms, mainly for risk management – not putting all eggs in one basket. The onboarding process, specifically the KYC/KYB, is a repetitive slog. Each one wants the same documents, slightly different formats, then the verification usually takes days. It's a huge time sink. Anyone found a more streamlined approach or a firm that's genuinely quick on this front? Makes you wonder if there's an industry standard coming that could simplify this across the board. The friction is real.

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Top answers

  • u/jasmine_p· 4 pts· 2d

    I completely agree, the redundancy is frustrating. I've started keeping a folder with all common documents pre-scanned in various formats (PDF, JPG, etc.) to at least speed up the submission part, but the wait times are still killer.

  • u/diallo_emeka· 1 pts· 2d

    Totally agree, it's a real pain point. I wonder if there's any movement towards a standardized KYC process across the industry, or at least a way to port verified docs from one firm to another without starting from scratch every time.

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