Anyone else finding Prop Firm KYB getting stickier lately?
Been hopping between a few different prop firms for diversification and to test different payout structures. What I'm noticing lately, particularly with some of the newer or smaller shops, is a real uptick in friction during the KYB process. It's not just the usual ID/address stuff; some are asking for utility bills from specific months, detailed bank statements that feel a bit invasive, or really dragging their feet on verification. I get that regulations are tightening, and we want secure platforms, but it feels like some are over-correcting, making the onboarding a much more significant time sink than it used to be. Makes me wonder if they're trying to thin out applicants or if it's genuinely a reflection of increased scrutiny from their own banking partners. Thoughts?
I've definitely noticed this trend too, especially with firms based in certain jurisdictions. It seems like a response to increased regulatory scrutiny and perhaps a way to mitigate potential fraud, even if it makes the onboarding process a bit more cumbersome.