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NBby u/nbianchi·5dQuestion

Anyone else finding KYC/AML a major hurdle with new FX brokers?

Been trying to onboard with a new FX broker recently, attracted by their tighter spreads on $EURUSD during off-peak hours, but the KYB/AML process has been an absolute nightmare. The documentation requested felt excessive, almost like a fishing expedition, and the verification times are dragging on for weeks. It's making me reconsider if the potential benefits are worth the operational headache.

It feels like some brokers are so hyper-focused on compliance (understandable, given the regulatory environment) that they're losing sight of the user experience. Are others encountering similar friction, or have I just picked a particularly slow one?

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