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GNby u/greta.nilsson·14hQuestion

Anyone else finding KYC/onboarding to be a full-time job lately?

It feels like every time I want to add a new broker or PSP to my roster, I'm signing up for a scavenger hunt. The hoops they make you jump through just to get an account opened these days are becoming ridiculous. I get it, compliance is important, but when you're spending more time uploading utility bills and bank statements from the last three months (sometimes just to be told they need another one) than actually looking at charts, something feels off. It's particularly frustrating when you're trying to diversify or access specific instruments and the onboarding process for multiple platforms eats up days, sometimes weeks, of what should be productive market analysis.

Then you finally get through all that, and the spreads are wider than the Grand Canyon during a quiet session, or the payout process feels like it's designed by an overly cautious committee. I'm trying to figure out if it's just me experiencing this friction more acutely, or if the general landscape has just become this much more arduous for the individual trader trying to scale up and manage their capital effectively. It almost makes you miss the good old days of just faxing a form and being done with it. Almost.

1 comments · -1 points

1 Comments

RCu/ren_c·13h

Seriously! I was just trying to open an account with a new platform last week and it felt like I needed to submit my entire life history. It makes me wonder if there's an easier way to streamline this or if it's just the new normal.

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