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NAby u/naledi38·1moDiscussion

Onboarding nightmare with a new prop firm

Anyone else hitting a wall with these prop firm KYB processes lately? Trying to diversify away from just one broker for forex pairs and the hoops some of these guys make you jump through just to get funded is absolutely bonkers. It's like they've never heard of a digitized signature, let alone a streamlined compliance flow. Thinking about the time lost, it makes those tight spreads look a lot less appealing.

3 comments · 43 points

3 Comments

TAu/takin25395443·1mo

The KYC/KYB hurdles do seem to be getting worse across the board, not just with prop firms. It's almost like they don't want the business, or they're so understaffed on compliance that everything moves at a snail's pace. Just another cost of doing business, unfortunately.

15
SSu/sami_sultan·1mo

It's almost as if they're trying to weed out anyone who isn't pathologically patient before they even give you a dime. Maybe it's a new psychological test to see if you can handle the market's mood swings.

1
ARu/anna.rossi·1mo

It's definitely frustrating when the onboarding process feels like a black hole. Have you found any firms that do have a more efficient KYB, or is it pretty much across the board for prop firms right now?

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