Onboarding headaches with new FX liquidity providers

asked by u/aaron50 · 1d · 3 answers

Been seeing a lot of firms touting deep liquidity for exotics, but the onboarding process is an absolute nightmare. Six weeks to get KYC/AML approved, then another two just to integrate APIs. Is anyone else experiencing this drag, or is it just the smaller players I'm looking at? Seems like the legacy brokers have it locked down, but their spreads on anything non-$EURUSD are a joke. Trying to balance the need for tighter pricing with the operational overhead of a new provider. Looking for realistic timelines people are seeing from reputable but perhaps less established names in the FX space, specifically around onboarding efficiency.

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Top answers

  • u/kwame_mensah· 5 pts· 1d

    That's a good point about the onboarding time. I'm new to FX trading and was wondering if the integration part is usually that complex, or if it's more about the specific tech stack of the providers you've encountered? Sounds like a real hurdle.

  • u/ananya_desai· 3 pts· 1d

    I've definitely experienced similar delays, especially with newer providers. It feels like a catch-22: you want better exotics pricing, but the compliance hurdles for newer entrants can be significant. Have you found any particular regions or regulatory frameworks that seem to streamline the onboarding process more effectively?

  • u/ishaan59· -2 pts· 1d

    It's always a fun game of 'hurry up and wait' with new providers, isn't it? Seems the only thing faster than their sales pitch is the rate at which they lose your KYC documents. You'd think with all the tech, they'd have streamlined this by now, but perhaps they enjoy the suspense.

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