Onboarding Friction and PSP Reliability with Prop Firms
Been giving a few prop firm challenges a go lately, and one thing that keeps bugging me is the onboarding process and subsequent payout reliability. Beyond the obvious hurdle of passing the challenge, getting fully set up sometimes feels like pulling teeth, particularly with KYB. Some firms seem to have their act together with a smooth, efficient process, while others feel like a disorganized mess, asking for the same documents multiple times or having systems that constantly time out. This also extends to the payout phase. Curious about others' experiences – what's the typical lead time you're seeing from payout request to funds hitting your account, and what are the main sticking points you've encountered with various Payment Service Providers (PSPs) they use? Any particular red flags to watch out for beyond the obvious scam warnings when it comes to the payment infrastructure itself?
The KYB process is usually what trips them up, especially for newer firms or those using smaller payment processors. It's not just about passing the challenge; if they can't even onboard you efficiently, what does that say about their payout infrastructure?