Onboarding Friction for Micro-Cap Fund Structure?
Been trying to get set up with a new broker/PSP for a small, recently structured micro-cap fund. We're talking under $5M AUM, primarily trading spot FX ($EURUSD, $GBPUSD, etc.) and a couple of major cryptos ($BTC, $ETH). The biggest headache has been the KYB process. It feels like a lot of these platforms are geared either for retail or for much larger institutional players, and we fall right in that awkward middle ground. We've got all our corporate docs, regulated status, AML policies in place, but the back-and-forth for what seems like basic verification is dragging.
Anyone else in a similar boat with smaller fund structures or proprietary trading desks hitting unexpected resistance during onboarding? Is there a sweet spot for brokers or payment service providers that are more nimble with these 'emerging' institutional accounts, or is it just the nature of the beast these days given the regulatory climate? Trying to streamline for future scaling but this initial hurdle is significant.
I've heard similar stories. It really seems like there's a gap in the market for platforms that cater specifically to these smaller, niche funds. Have you tried looking into some of the newer, more crypto-native institutional platforms, or are they still too far on the 'crypto' side for your FX needs?