Onboarding Friction for EU Entity with Non-EU Liquidity
Anyone else hitting a brick wall trying to onboard an EU-regulated entity (think Cyprus or Malta) with a prop firm or broker that primarily deals with non-EU liquidity providers? I'm talking about the KYC/KYB nightmare when your entity is fully compliant within its jurisdiction, but the target provider has an aversion to anything that smells like EU regulatory overhead, even when you're just looking for raw market access.
It's not about the spreads or fees at this point; it's the sheer administrative drag. They talk a good game about 'global access' but the moment you present an EU-based UBO or entity structure, the process grinds to a halt. We're looking for deep liquidity in specific FX pairs ($EURUSD, $GBPUSD, etc.) and some minor indices, but the hoops they make you jump through often feel arbitrary and not truly risk-based. Has anyone found a workaround or a provider that genuinely understands and streamlines this for EU entities without treating them like a compliance hot potato?
This sounds really frustrating. I've heard similar stories about the regulatory hurdles, but the 'aversion to anything that smells like EU regulatory overhead' part is new to me. Is it always a blanket refusal, or are there specific compliance documents they're usually hung up on?