Anyone else hitting onboarding friction with prop firms lately?
Hey everyone, been looking to diversify my capital allocation and exploring a few prop firm options beyond my usual brokerages. I've noticed a significant uptick in the time it takes to get through the initial KYB/onboarding process. It feels like every firm has a slightly different set of hoops to jump through, and the verification steps seem to be getting more stringent, which I understand for compliance, but it's really dragging out the setup time.
Specifically, I'm finding that submitting documentation sometimes leads to multiple rounds of requests for additional proof, or slight discrepancies in address formatting causing delays. It's not just one firm; it's been consistent across a few I've been evaluating. Makes me wonder if there's been a recent industry-wide shift in how these processes are handled, or if I'm just hitting a bad run of luck. Curious if anyone else has experienced this recently, or if you've found any firms with particularly smooth and efficient onboarding that stand out?
Oh, absolutely. It's like they've all collectively decided that making money should involve an Olympic-level hurdle race just to get to the starting line. I'm half-expecting to submit a DNA sample next.