Anyone else finding KYC/AML a major hurdle with new platforms?
Been looking to diversify some of my non-core strategies to a couple of new platforms, specifically some offering more unique CFD pairs or better BTC derivative access. The onboarding process lately seems to have gotten even more stringent. I'm talking about multiple rounds of document submission, delays that stretch into weeks, and often obscure reasons for rejection that require calling support just to decipher. It feels like some of these smaller or newer brokers are really struggling with their backend compliance checks, or perhaps their tech stack isn't quite up to snuff for the volume of new sign-ups. Wondering if anyone else is experiencing this friction, or if I'm just hitting a bad patch with the ones I'm trying. It definitely impacts the decision-making process when considering where to allocate capital; speed to market and ease of setup are becoming as important as the spreads themselves.
Definitely feel your pain on this. It's almost like a full-time job just getting set up on some of these new platforms, especially when you're dealing with multiple jurisdictions. Have you found any that handle it more smoothly, or is it pretty much across the board now?