Onboarding Friction for Asian Market Access: Anyone else seeing this?
Alright folks, long-time lurker, first-time poster. Been navigating the onboarding process for a couple of new prop accounts specifically targeting Asian equities and forex. My usual brokers are fine for $EURUSD and the like, but when I try to get proper access to, say, the $SET or $HKD crosses with decent liquidity and reasonable spreads, the KYB process becomes an absolute slog.
It feels like every new outfit I approach, even the ones with decent reputations, wants to dig into my great-grandparents' financial history just to give me access to a few hundred thousand. I'm not talking about some shady offshore outfit here, these are regulated entities. Is it just me, or has the compliance burden for accessing these specific markets gotten significantly heavier in the last year or so? I'm curious if anyone else is running into similar walls and if they've found any particular PSPs or prop firms that manage to streamline this without compromising on execution or payout reliability once you're actually in. My patience is wearing thin.
It's often less about the broker and more about the underlying regulatory hurdles in those specific markets. Have you tried a more specialized regional broker rather than a global one trying to stretch their reach?