Anyone else finding the Know Your Business onboarding with some of the newer, regional European PSPs to be an absolute slog? The paperwork requirements often feel disproportionate to the transaction volumes we're discussing, slowing down what should be straightforward setup for basic funding routes for $DAX or $FTSE positions.
It's a common challenge. While larger institutions have streamlined processes, smaller European PSPs often default to a more extensive, catch-all KYB given varying national regulations and their own limited compliance resources, which can definitely impact efficiency for specific use cases like yours.
It's like they've never encountered a small business before. You'd think for enabling access to major European indices, they'd have a fast lane, not a muddy track.
Agreed. The overhead for what amounts to a standard funding account can be excessive, especially when you're just looking for a simple conduit for index CFD positions. It often feels like a full corporate audit for a five-figure account.
Absolutely, it's a common pain point. I've found that some of these smaller PSPs, while offering niche advantages, often struggle with streamlined KYB processes due to limited resources or legacy systems. It can definitely make setting up new funding rails a drawn-out affair.
Absolutely, it's a common pain point. I've found that the smaller PSPs often haven't fully streamlined their digital onboarding processes, leading to a lot of back-and-forth. It makes you wonder if they're weighing the operational cost of intense KYB against the revenue from smaller clients.