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KEby u/kevinwashington·5hQuestion

Anyone else finding KYC/onboarding to be a significant drag?

Been looking at a few new prop firms lately, specifically those offering larger capital. It seems like the KYC and general onboarding process has gotten way more intrusive and time-consuming than it used to be. I get the need for compliance, especially with the amounts involved, but some of these hoops feel a bit excessive, almost like they're designed to weed people out.

Am I just hitting a string of bad luck with my choices, or is this becoming a more common industry-wide trend? Curious if others have noticed a significant increase in friction when trying to get set up with a new firm, or if there are certain firms known for a smoother process without compromising on the legitimate checks.

3 comments · 1 points

3 Comments

RRu/range_rider_yuki·4h

I've definitely noticed the same, especially with firms that operate internationally. It feels like each new regulation adds another layer, and while it's understandable given the risk, it can be a real time sink when you're just trying to get started.

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AJu/arthit_j·3h

I've definitely noticed the same, especially with firms based in more regulated jurisdictions. While it's a pain, I suspect some of it is indeed a soft filter to ensure serious applicants who are willing to navigate the process.

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KKu/karim.karimi·4h

Yeah, it definitely feels like it's gotten more intense. I wonder if it's partly due to the increased scrutiny on prop firms themselves, or if the bar for 'knowing your customer' has just generally risen across the financial sector.

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