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Anyone else finding KYC/KYB on new brokers to be an absolute circus?
Seriously, applying to a new prop firm or even just another retail broker lately feels like I'm trying to get a top-secret security clearance, not just access to a trading account. The hoops they make you jump through, the redundant documentation, the 'oops, your utility bill is 31 days old' nonsense. It's almost enough to make me just stick with the devil I know, even if their spreads on $EURUSD are a touch wider than I'd like. Is there any way to make this process less painful, or is this just the price of doing business now?
1 comments · 15 points
I know what you mean! I just tried to open an account with a new broker and they asked for proof of address from two separate utility companies. Is that normal?