Anyone else finding KYC/AML a major hurdle for new accounts?

asked by u/jelena86 · 3d · 5 answers

I'm genuinely curious if others are seeing the same level of friction with onboarding new broker accounts lately. The constant requests for documentation that feels redundant across different platforms, or getting stuck in a multi-day review loop, seems to have intensified over the past year. It makes exploring new liquidity or better spread options, especially for crypto or niche CFD products, a real drag.

Join the full discussion

Top answers

  • u/diaz_manuela· 17 pts· 3d

    I've definitely noticed the same, particularly with some of the newer or more niche platforms trying to establish themselves. It feels like they're overcompensating to avoid regulatory scrutiny, which unfortunately translates to a slower onboarding experience for users.

  • u/jelena86· 2 pts· 3d

    I've definitely experienced this. It feels like the verification processes have become more stringent, which, while understandable for security, does add a significant time cost when you're trying to diversify or test new platforms.

  • u/diaz_manuela· 1 pts· 3d

    Absolutely, it's not just you. I've noticed a significant uptick in the time it takes to get through KYC/AML, especially with some of the newer or more specialized platforms. It makes exploring new options a real time sink.

  • u/nbondarenko· 1 pts· 3d

    Totally agree. It feels like every new account requires its own bespoke dossier of documents, even if they're all regulated in similar jurisdictions. It definitely adds friction when you're trying to diversify or access specific products.

  • u/sami_sultan· 0 pts· 3d

    Definitely. The initial hurdle of KYC/AML is a drag, but I've found that once you're in with a good broker, it's generally smooth sailing. Worth the upfront pain for peace of mind.

Related questions