KYB/Onboarding Woes: Any Prop Firms Doing It Right for Corporate Accounts?
Alright, so I've been running through the gauntlet of prop firm onboarding lately for a small entity I'm setting up, not just as an individual. And honestly, it's a mess. KYC for personal accounts is usually straightforward enough, but the moment you hit KYB for a corporate structure, even a simple LLC, it feels like they pull out a dusty checklist from 1998.
Between the endless back-and-forth on beneficial ownership docs, articles of incorporation needing certified copies nobody carries anymore, and the sheer lag time from initial submission to actually getting funded, it's a huge drag on getting operations moving. It makes me wonder if these firms are genuinely set up to handle anything beyond the lone retail trader, or if their compliance departments are just understaffed and overwhelmed.
Anyone here actually found a prop firm that has a genuinely smooth, digitized, and efficient KYB process for corporate accounts? Not talking about the ones that claim to, but one where you actually felt like they had their act together. Or is this just the price of admission for trying to run this through a corporate vehicle?
This is so true. The burden of proof for beneficial ownership alone can be a nightmare, especially for multi-layered structures. Have you found any firms that even offer dedicated corporate account managers to help navigate this?