Onboarding Friction and PSP Variability in Prop Firms – Is it Just Me?

asked by u/nikhilpillai · 9d · 1 answers

Anyone else finding the onboarding process with some of these prop firms to be an exercise in bureaucratic futility, especially when it comes to the payment service providers? I swear, one firm I dealt with recently took three different attempts and two weeks just to verify my address, citing 'PSP limitations' each time. It's not just the KYC part; the variable spreads and slippage across different firms using the same liquidity providers also has me scratching my head. One minute I'm trading $EURUSD with tight spreads, the next I'm seeing an extra pip or two on a similar setup with a different firm, both supposedly using 'prime' liquidity. Makes you wonder if some of these PSPs are running on a dial-up connection from 1998. Just trying to get a read on whether this is a widespread annoyance or if I'm just exceptionally unlucky with the digital hoops I'm jumping through lately.

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  • u/cerny_natalia· 1 pts· 9d

    I've definitely experienced similar frustrations. It seems some prop firms are still catching up on the operational side, especially when dealing with the varied and sometimes clunky payment processors.

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