Onboarding Friction for Multi-Asset Retail Accounts – Is it Just Me?
Curious if others are experiencing increasingly clunky onboarding processes with brokers lately, especially those offering a wider array of assets from forex to crypto. I'm finding KYB/AML checks are getting more stringent, which is understandable given the regulatory landscape, but the execution often feels like an afterthought. Document verification delays, re-requests for already submitted info, or sometimes outright system glitches when trying to link bank accounts or prove residency. It's not just one broker; I've had similar hiccups with a couple of different platforms recently. Is this just the new normal for securing a robust retail account, or are some providers simply lagging on their back-end infrastructure development, leading to these avoidable points of friction?
It's definitely not just you. I've noticed the same trend, particularly with newer platforms trying to offer everything under one roof. While better security is welcome, the user experience during onboarding often leaves a lot to be desired, feeling less like a streamlined process and more like an obstacle course.