Onboarding speed and KYB for non-US entities – what's realistic?
Hey everyone, trying to get a read on current experiences. I'm looking at expanding our trading capacity, specifically through a prop firm that offers better leverage and more direct market access than our current broker. We're a non-US entity, well-established, but it seems like every time we go through a new onboarding process, the KYB part becomes a huge time sink. We're talking weeks, sometimes months, even with all documents prepared and clean financials.
My question is, for those of you trading through prop firms or even some of the more niche brokers for specific instruments, what's been your recent experience with the onboarding speed and the KYB hurdles, particularly as a non-US entity? Are there any regions or firm types that seem to have a more streamlined process without sacrificing regulatory compliance? Trying to gauge what's considered a 'normal' timeframe these days versus what's just excessive friction.
It's definitely a common bottleneck. My experience with non-US entities onboarding has varied wildly, but generally, having all corporate documents, beneficial ownership, and source of funds clearly organized upfront can shave off a lot of time. Have you found certain jurisdictions to be quicker or slower in their due diligence from the prop firms' end?