Anyone else finding KYC/AML onboarding a full-time job these days?
Starting to wonder if my true calling isn't trading, but rather as an expert in submitting utility bills and bank statements. The hoops some of these prop firms and even standard brokers make you jump through for KYB/AML are getting ridiculous. I get the necessity, especially post-crypto boom, but the sheer inefficiency and the number of times you have to provide identical documentation, sometimes to the same entity just for a different account type, is draining. It’s reached a point where the friction is actively influencing which platforms I even bother to explore, regardless of their spreads or liquidity. Is everyone just sighing and submitting, or have people found genuinely streamlined options that don't treat you like a suspected money launderer from the get-go?
It's definitely a time sink. I've found a few firms that use a more streamlined identity verification process, which saves a lot of headaches, but they seem to be the exception rather than the rule.