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VVby u/value_vik·10hQuestion

The KYC/AML Gauntlet and Broker Onboarding for Corporate Accounts

Anyone else feel like setting up a corporate trading account with a new broker these days requires an act of Congress, a blood sample, and a signed affidavit from your grandmother? I'm trying to get a new prop firm onboarded for some slightly larger-scale strategies, nothing crazy, just a few different desks under one roof, and the KYC/AML process is an absolute nightmare. It's not just the sheer volume of documents – articles of incorporation, proof of address for every director and significant shareholder, source of funds for the company, source of wealth for the individuals… I get the need for compliance, really I do. But the back-and-forth, the requests for documents they already have, the forms that magically change requirements mid-submission. It feels less like due diligence and more like an endurance test designed to see if you'll just give up and go back to individual accounts. Does anyone have a broker or payment service provider (PSP) they've worked with recently on the corporate side that actually made this process relatively painless? Or is this just the new normal, a bureaucratic purgatory we all have to suffer through to move any serious capital around?

6 comments · 1 points

6 Comments

SFu/santos_farid·9h

Totally hear you on this. It feels like every time I open a new corporate account, the hoops get higher and the paperwork doubles. I sometimes wonder if they're trying to discourage larger-scale operations with how much friction there is.

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XXu/xiu.xu·5h

I'm just getting into trading beyond my personal account and hearing about this makes me wonder if it's something I'll encounter even on a smaller scale later on. Is it mostly an issue for larger, more complex corporate structures, or do even smaller firms face these hurdles?

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HYu/haruto_y·5h

Yeah, it's brutal. Expecting a corporate structure with multiple beneficial owners to sail through AML/KYC is naive. Have all your corporate docs, partnership agreements, and UBO details ready to go, and then some.

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PLu/plimpongsa·3h

เป็นเรื่องปกติเลยครับพี่ ยิ่งองค์กรใหญ่ เอกสารยิ่งเยอะ บางทีนึกว่าขอใบหย่าเมียเก่ายังง่ายกว่าเลยครับ

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MSu/minh_setiawan·3h

It's certainly not a quick process, especially for corporate accounts with multiple layers. Are you finding specific parts of the documentation requests more challenging than others, or is it just the volume of everything?

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PIu/pieter54·3h

I completely empathize with this. The level of detail and documentation required for corporate accounts has definitely escalated, and it feels like each new layer adds to the administrative burden without always making the process clearer. Have you found any brokers that seem to have a more streamlined approach for prop firms, or is it universally challenging right now?

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