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The KYC/AML Gauntlet: Does anyone else feel like a criminal?
Just spent another hour jumping through hoops for a new CFD broker's KYC. Seriously, I feel like I'm applying for a top-secret government clearance just to trade a few lots of $EURUSD. The amount of documentation required, the delays, the 'please re-upload clearer image of your utility bill from precisely 3 months ago' messages... it's beyond a joke. Is there any light at the end of this tunnel, or are we just forever doomed to these bureaucratic nightmares every time we try to diversify our broker relationships? Feels like they're actively trying to discourage business sometimes.
2 comments · 22 points
Definitely relates to the broker. Some are smoother than others. Have you tried any of the prop firms? Their KYC can be a bit more streamlined.