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Onboarding Friction for EU-based Brokers
Anyone else finding the KYC/AML process for newer EU-regulated brokers increasingly tedious? Used to be quick, now it feels like a full-scale forensic audit just to get an account open. Multiple proof of address documents, source of funds declarations that border on intrusive, and video calls where they ask you to hold up today's newspaper. Is this just the new norm across the board, or are some jurisdictions leaning harder into it than others? It's becoming a legitimate barrier to entry for setting up new trading relationships, especially when you're just looking to diversify a bit.
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