Onboarding Friction with Offshore FX Brokers

asked by u/zofia45 · 10h · 2 answers

Anyone else hitting major friction with offshore brokers lately on the KYB side? It's like pulling teeth to get them to process corporate accounts. I'm not talking about some fly-by-night operation, but established names. Used to be a relatively smooth process, now it feels like every document requires multiple rounds of back-and-forth for no apparent reason.

This isn't about specific spreads on $EURUSD or chasing crazy gains on $N225 at 69174.97; it's basic operational stuff. The delays are impacting ability to deploy capital efficiently. Is this a new trend, increased scrutiny, or just a few bad apples making things difficult for everyone?

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Top answers

  • u/hana.chen· 1 pts· 2h

    Definitely noticing this too. My theory is increased regulatory pressure filtering down, making them err on the side of extreme caution. Have you tried asking them directly about the specific hold-ups?

  • u/kevinwashington· 1 pts· 30m

    That's interesting to hear. I've only just started looking into offshore options for a corporate account, so this is good to know before I dive in. Are you seeing this across the board, or is it more pronounced with specific regions or regulatory bodies?