KYB on the 'fringe' of asset classes – anyone else feeling the squeeze?
Been trading CFDs for a while now, primarily on equities and some forex pairs like $EURUSD, and generally, things are smooth enough. Execution is decent, spreads are competitive, and I've long since settled into a routine with my primary broker. But lately, I've been exploring a few more esoteric CFD offerings, thinking about dipping a toe into certain indices or maybe even some of the newer commodity CFDs that have popped up.
And holy moly, the onboarding process for some of these newer, often smaller, providers is… something else. It feels like stepping back a decade. I'm talking about submitting the same documents multiple times, unclear requirements, and support queues that make you wonder if they're staffed by a single, very tired individual. It's almost as if the compliance teams haven't quite caught up with the broader push towards offering CFDs on a wider range of underlying assets. For something like $BTC CFDs, where the underlying is volatile enough, the last thing you need is a month-long KYC/KYB headache just to fund an account. Is anyone else experiencing this friction when trying to diversify their CFD access, especially outside the main staples?
I've definitely noticed a difference in liquidity and execution when moving beyond the major pairs and indices. It's a trade-off, isn't it? More exotic instruments often come with wider spreads and higher slippage, which can really eat into profits if you're not careful.