Feels like every time I get my ducks in a row for a new prop firm, their KYC process has added another hoop to jump through. Is it just me, or is the onboarding friction for these outfits getting progressively more cumbersome than securing a mortgage?
It's definitely not just you. I've noticed the same, and it often feels like they're trying to outdo each other with the most rigorous checks. Makes you wonder what's driving the constant changes.
I'm starting to think my local barista knows less about my financial history than the prop firm I'm applying to. Soon they'll be asking for my first pet's blood type and my grandma's maiden name, just to prove I'm not a robot.
It's definitely not just you. The regulatory landscape for these firms is shifting fast, and they're all trying to de-risk themselves, which means more hoops for us. It's a pain, but understandable given the crackdowns.
Oh, absolutely. I'm starting to think their 'compliance department' is just one very bored individual with a dartboard full of increasingly obscure document requests.
It's definitely not just you. I've noticed the same, especially with some of the newer firms or those expanding quickly. Seems like they're trying to keep up with evolving regulations or just being extra cautious, which ends up making it a longer process for us.