# KYC and AML Software for Prop Firms (2026)

> KYC and AML software verifies a trader's identity and screens them against sanctions and politically exposed person lists. Prop firms usually run it before the first payout, through providers such as Sumsub, Veriff or Onfido integrated with the back office. As published in October 2026, Veriff starts from $0.80 per verification with a $49 monthly minimum, and Sumsub from $1.35 with a $149 minimum.

- Source: https://pipvalley.com/guides/kyc-aml-software-for-prop-firms
- Publisher: PipValley - web design studio for prop trading firms
- Updated: 2026-10-12

**Short answer:** KYC and AML software verifies a trader's identity and screens them against sanctions and politically exposed person lists. Prop firms usually run it before the first payout, through providers such as Sumsub, Veriff or Onfido integrated with the back office. As published in October 2026, Veriff starts from $0.80 per verification with a $49 monthly minimum, and Sumsub from $1.35 with a $149 minimum.

Every prop firm ends up verifying traders, whether because a payment provider requires it, a regulator might, or because multi-accounting makes it unavoidable. The choices are when to verify, which provider to use, how much to check, and how to explain it so a trader who passes is not surprised.

This guide answers those from the operator side. Prices are quoted as each provider publishes them, checked on 12 October 2026, and no provider is recommended over another. Whether your firm has a legal KYC or AML obligation depends on your jurisdiction and structure; that is a question for a lawyer.

## What does KYC and AML software do for a prop firm?

KYC and AML software does four jobs for a prop firm: it checks an identity document, confirms the person is present with a selfie or liveness check, screens the name against sanctions and PEP lists, and flags duplicates that suggest one person running several identities. Some providers add proof of address, ongoing monitoring and payment verification.

The output is a status in your back office: approved, rejected, pending review or expired, with a reason. That status gates the payout. Store the date and reason with the trader record, because you will need both when a rejected trader disputes the decision publicly.

## When should a prop firm verify traders?

Most prop firms verify traders before the first payout, not at purchase. Verifying at checkout adds friction to every sale, including the majority who never reach a payout; verifying at payout concentrates spend on the traders who matter and on the moment fraud would actually cost money.

The trade-off is the trader who pays, passes and then fails. Reduce it three ways: block restricted countries at checkout, say at checkout that KYC happens at payout and which documents are needed, and consider a light check (email, phone, country) at purchase with full KYC at the funded stage.

**When to run KYC at a prop firm: three common patterns (general model)**

| Pattern | When full KYC runs | Pros | Cons |
|---|---|---|---|
| At checkout | Before the evaluation starts | No surprises later; catches restricted traders before they pay | Friction and cost on every sale, most of which never reach a payout |
| At funded stage | After passing, before the funded account is issued | Spend only on traders who passed; problems caught before payout pressure | Trader has paid and passed before learning they cannot be funded |
| At first payout | When the first reward is requested | Lowest spend; most common pattern | Highest emotional cost of a rejection; needs checkout geo-blocking |

## What do KYC providers cost?

KYC providers charge per verification with a monthly minimum on self-serve plans, and negotiate enterprise pricing for volume. The table shows what two providers commonly named by prop-tech vendors publish. Others, including Onfido (owned by Entrust since April 2024), Shufti Pro, iDenfy, Jumio and Trulioo, quote on request or publish prices we could not confirm on their own sites.

**Published KYC pricing, self-serve plans (checked 12 October 2026, as published by each provider)**

| Provider and plan | Per verification | Monthly minimum | What the plan adds |
|---|---|---|---|
| Veriff Essential | $0.80 | $49 | Entry self-serve plan |
| Veriff Plus | $1.39 | $99 | Mid-tier self-serve plan |
| Veriff Premium | $1.89 | $209 | Top self-serve plan; 15-day trial gives Premium access, capped at 50 sessions |
| Sumsub Basic | $1.35 | $149 | ID verification, liveness and face match, reusable KYC, email and phone checks |
| Sumsub Compliance | $1.85 | $299 | Adds AML screening, ongoing AML monitoring and address verification |
| Enterprise or custom (all providers) | Quote | Quote | Volume pricing, extra checks, dedicated support |

## Which providers do prop firms use?

Prop firms most often use KYC providers their back-office vendor already integrates. On PropTechPal, a prop-tech vendor directory run by the same owners as PipValley, 23 of 25 listed vendors say they handle KYC, and the providers they name most are Sumsub (about 15 vendors), Veriff (10), Onfido (4) and Shufti Pro (about 4), followed by iDenfy, Jumio, IDwise, Trulioo, GBG, KYCAid and IDnow.

Coverage claims are close at the top end. Veriff says it supports 12,500+ documents across 230+ countries and territories; Sumsub's trading page says 14,000+ documents across 220+ countries and territories, and pitches payment verification to cut chargeback fraud and multi-accounting. Test with documents from your own top ten trader countries before you sign; average claims hide country-level failure rates.

- Integration: does your back office already connect to it, and does the result write back to the trader record automatically?
- Coverage: pass rates on documents from your main trader countries, tested in a trial.
- Screening: are sanctions and PEP checks included, or a separate tier?
- Duplicates: can it flag the same face or document across accounts?
- Reviews: who handles manual reviews, and how fast?
- Data: where is data stored, for how long, and can you export it?

## What does AML add beyond KYC?

AML adds screening and monitoring on top of identity: checking traders against sanctions and politically exposed person lists, re-screening them as lists change, and watching payment and payout patterns for signs of laundering or fraud. Sumsub, for example, puts AML screening and ongoing monitoring in a higher tier than basic ID verification.

For a prop firm, the practical AML risks are payouts to sanctioned persons, payouts to someone other than the verified trader, and rings of accounts moving money between themselves through copy trading or opposite positions. Sanctions screening ties directly to your restricted-countries list, which our restricted countries guide covers.

> This guide explains how KYC and AML software is generally used by prop firms. It isn't legal advice. Whether you have a legal KYC or AML obligation, and what it requires, depends on your jurisdiction; ask a qualified lawyer.

## What this means for your website

Most KYC complaints are website failures: the trader was never told when verification happens, which documents are needed or which countries cannot be paid. Put a KYC section on the payouts page and the FAQ, mention it at checkout with a link, and make the restricted list impossible to miss.

PipValley builds those pages as standard and keeps them consistent with your back office: the FAQ center, the restricted-countries and geo layer, and the compliance and disclosures pages. See those features, or our payout providers guide for where KYC sits in the payout flow.

## Questions

### Do prop firms need KYC?

Most prop firms run KYC because payment and payout providers require it and because it stops multi-accounting, even where no regulator requires it. Whether your firm has a legal KYC obligation depends on your jurisdiction and structure, so ask a lawyer.

### How much does KYC cost for a prop firm?

KYC for a prop firm costs a per-verification fee plus a monthly minimum. As published in October 2026, Veriff starts at $0.80 per verification with a $49 minimum and Sumsub at $1.35 with a $149 minimum; enterprise pricing is quoted.

### What is the difference between KYC and AML?

KYC confirms who a trader is with document and liveness checks; AML screens that person against sanctions and PEP lists and monitors activity for laundering or fraud. Many providers sell AML screening as a higher tier.

### Which KYC provider do prop firms use most?

Sumsub and Veriff are the KYC providers prop-tech vendors name most often on PropTechPal, followed by Onfido and Shufti Pro. Most firms use whichever their back-office vendor already integrates.

## Sources

- [Veriff: plans and pricing (checked 12 October 2026)](https://www.veriff.com/plans)
- [Veriff: homepage, document and country coverage](https://www.veriff.com/)
- [Sumsub: pricing (checked 12 October 2026)](https://sumsub.com/pricing/)
- [Sumsub: KYC for brokers and trading platforms](https://sumsub.com/trading/)
- [Entrust: Entrust completes acquisition of Onfido (April 2024)](https://www.entrust.com/company/newsroom/entrust-completes-acquisition-of-onfido-creating-a-new-era-of-identity-centric-security)
- [PropTechPal: prop firm technology provider directory (sister site)](https://proptechpal.com/)