Onboarding Friction and PSP Reliability – What are your thresholds?
Been thinking a lot about the initial stages of setting up with a new broker or even a prop firm lately, particularly concerning the onboarding process and the subsequent payment service provider (PSP) reliability. It seems like a relatively straightforward process on paper, but I've hit a few walls recently that make me wonder what others' experiences are. Specifically, how much friction in the KYB process do you tolerate before it becomes a red flag? I'm talking about things like repetitive document requests after initial submission, extremely slow verification times, or ambiguous reasons for rejections.
Beyond that, once you're in, what's your threshold for PSP performance? Not just payouts, which is obviously critical, but even deposits. I've had instances where deposits via what should be common methods like SEPA or instant bank transfers are taking days to clear, or worse, getting flagged for review by the PSP without clear communication from the broker. This isn't just an inconvenience; it impacts risk management and potential entry/exit points, especially on something volatile like $BTC or fast-moving $EURUSD pairs. Are these minor annoyances, or are they indicators of deeper infrastructural issues with the broker/PSP combo? Curious to hear what others deem acceptable and what makes you walk away.