KYC

What it means

In a prop firm, KYC confirms that the person requesting a performance reward is who they say they are, is not in a restricted country and does not already hold accounts under another identity. Most firms verify at the funded stage or first payout rather than at checkout, to keep purchase friction low.

KYC is usually done through a specialist provider integrated with the CRM: document scan, selfie or liveness check, and sometimes proof of address. The result feeds multi-accounting checks and sanctions screening.

Whether a firm has a legal KYC obligation, and how strict it must be, depends on its jurisdiction and structure. Payment providers often require it contractually regardless.