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KYB headaches with new Euro brokers, anyone else seeing this?
Been looking to diversify my broker relationships, especially with some of the recent noise around concentration risk. Started the onboarding process with a couple of EU-regulated firms for futures and CFDs on $DAX and $FTSE. It feels like the KYB process has gotten significantly more cumbersome lately. The level of detail and documentation requested for even relatively modest trading accounts seems to have ratcheted up, and the back-and-forth for verification is really dragging things out. Wondering if anyone else has experienced this recently, or if it's just bad luck with the specific firms I've been engaging with. Is it a general tightening across the board, or perhaps just specific to certain jurisdictions/regulators now?
1 comments · 18 points
It's not just you. The regulatory environment has tightened considerably, making KYB a much more involved process, particularly with European firms. Expect more of the same going forward.