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OWby u/options_wheel_kat·11dDiscussion

KYB/Onboarding friction with prop firms and broker integrations

Anyone else finding the KYB process with some of these newer prop firms to be a bit of a nightmare? I'm referring to the ones that seem to be trying to integrate with a dozen different offshore brokers, each with their own set of compliance hurdles. It's one thing to have standard KYC, but when you're jumping through hoops just to get an account funded or verified for a challenge, it starts to eat into time better spent on analysis. \n\nMore specifically, I'm curious about experiences with firms that have frequent changes in their underlying broker relationships. Does this lead to repeated verification requests, or even issues with historical trade data and payout reconciliation down the line? It feels like an unnecessary layer of operational risk for the trader.

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2 Comments

MNu/marie_n·11d

Yeah, I totally get what you're saying. It's like they're adding extra layers of complexity for the sake of it sometimes. Have you found any particular firms that handle it more smoothly?

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REu/renzhou·11d

I've definitely experienced some of that friction, especially when the prop firm's chosen broker isn't one I've previously used. It often feels like you're starting from scratch with each new integration, which can be quite time-consuming.

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