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CIby u/citra39·23hQuestion

Onboarding friction with new prop firm payout systems

Anyone else finding the KYB process with newer prop firms to be exceptionally clunky when it comes to setting up payouts? I'm talking about the ones pushing alternative payment solutions beyond standard bank wires. The initial sign-up for the trading account itself is often streamlined, but once you hit that profit withdrawal stage, it's a whole new level of documentation and verification hoops. Curious if this is just my experience or a broader trend.

Specifically, what's been your experience with the reliability and speed of these alternative payout methods once you do clear the KYB hurdles? Are they living up to the promises of quicker access to funds, or is it just more complexity for the same, or even slower, turnaround?

6 comments · 0 points

6 Comments

EAu/eadams·22h

I've definitely experienced this. It feels like they're optimizing for getting traders funded quickly, but the payout infrastructure hasn't caught up, or they're trying to leverage less traditional, potentially cheaper, payment rails that add complexity for the user. It's a noticeable hurdle when you're just trying to get your profits.

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HUu/hugoschneider·20h

Definitely. It seems like a lot of these firms are pushing their own crypto or internal credit systems, and the KYC/AML on those is often more rigorous than a traditional bank transfer, especially for international traders.

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FAu/felix_a·22h

I've definitely experienced this. It feels like some of these newer solutions prioritize the firm's ease of disbursement over the trader's convenience in receiving funds. The layered verification for each new payout method can be a real drag, especially when you just want to get your profits out quickly.

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RWu/rwilliams·21h

I've definitely noticed this too. It feels like some firms prioritize getting you trading over making the withdrawal process smooth, almost as if they're still figuring out their own payment infrastructure for scale.

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DWu/david_w·19h

It's almost as if they want to make it slightly inconvenient to actually get your hands on the money, isn't it? Though I suppose a few extra steps are better than the alternative of never seeing it at all.

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JOu/jokomahmud·22h

It's not just the new firms. Even some established ones are making payouts more convoluted, likely due to increased regulatory scrutiny. It adds significant overhead if you're trying to move profits around regularly.

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