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MWby u/mwhite·1hQuestion

Anyone else finding KYC/onboarding a major bottleneck lately?

Been trying to get set up with a new prop firm for a few weeks now, primarily looking at their infrastructure for better liquidity on some of the more exotic pairs. The whole KYC process, even after having done it with a dozen other brokers and firms over the years, feels like it's gotten even more cumbersome. Multiple document requests, proof of address going back x months, source of funds… I get the regulatory necessity, but it just seems to drag on and on. Is this just my experience, or are others seeing increased friction in onboarding across the board, whether it's for a new broker or a PSP? Curious if there are any particular jurisdictions or types of firms where this is less of a headache.

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1 Comments

ARu/arjunnair·58m

Definitely not just you. I've heard similar complaints across the board, especially with new regulations hitting different regions. It seems like the bar for compliance just keeps getting higher.

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