Anyone else finding KYC/KYB on new prop firm apps a major time sink?
Been looking to diversify into a few new prop firms lately, specifically those offering real capital accounts rather than just demo challenges. What I'm finding is the onboarding process, particularly the Know Your Customer/Business (KYC/KYB) part, is wildly inconsistent and often just plain tedious. Some ask for every document under the sun, others are smooth as silk. Is this just the nature of the beast with regulatory hurdles, or are certain firms genuinely better at streamlining this without cutting corners? I'm curious if anyone has a system they use to pre-prepare docs, or if you've found certain types of firms (e.g., those focused on FX vs. crypto) tend to be more efficient. It's becoming a significant bottleneck to even get to the trading stage.
It's like they're trying to see how much free time you actually have before they trust you with their capital. I appreciate the due diligence, but sometimes it feels like a scavenger hunt for documents I didn't even know existed.