Right now, I have to go in and manually approve each and every new user.

I think Catpcha + Email verification is enough to let them on (I have the anti-spam for forums enabled as well).

Is there an option to do this?

Maybe I'm looking in the wrong place, but I can't seem to find where the option is to change the verification of new users.

Right now, I have to go in and manually approve each and every new user.

I think Catpcha + Email verification is enough to let them on (I have the anti-spam for forums enabled as well).

Is there an option to do this?

Email verfication can be turned off/on in the host settings under Host -> Host Settings -> Host Setup -> Require Email Verification

However, spam bots and paid "agents" will be registering with this automated procedure too so you are never completely safe...

You'll have to check the latest members in the admin page options, but that is less tedious than to approve every single member.

You can suspend "bad" users if they slip through the verification process.