KYC (Know Your Customer)
The identity-verification step prop firms require before your first payout — government ID, proof of address, and sometimes a selfie match.
What is KYC (Know Your Customer)?
KYC is the identity check that stands between passing your evaluation and receiving money. Firms are obligated to verify who they are paying — both for fraud prevention and to enforce one-person-per-account and restricted-country rules. Expect it at the first payout, occasionally at funding.
How KYC (Know Your Customer) works
The typical flow: upload a government ID, a proof of address dated within ~90 days, and complete a webcam or phone liveness check through a verification vendor. Processing runs from minutes to a few business days. The details on your trading account must exactly match your documents — legal name, spelling, and country.
Worked example
A trader signs up under a nickname, passes the eval, and requests a payout. KYC flags the name mismatch against their passport, support requests an account-name correction, and the payout that should have taken two days takes two weeks. Registering with your legal name on day one avoids the entire loop.
KYC (Know Your Customer) vs related concepts
Side-by-side comparison of KYC (Know Your Customer) against the most commonly confused alternatives.
| Concept | Definition | Category |
|---|---|---|
| KYC (Know Your Customer) this term | The identity-verification step prop firms require before your first payout — government ID, proof of address, and sometimes a selfie match. | General Concepts |
| Payout | A real-money transfer from a prop firm to the trader, settling the simulated profits earned on the trader's funded account based on the firm's profit-split percentage. | Rules & Risk |
| Restricted Countries | A list of countries from which a prop firm will not accept traders, typically driven by US OFAC sanctions, payment processor limitations, or regulatory compliance. | Rules & Risk |
| Individual Use | A rule requiring that each prop firm account is used by only one trader — sharing accounts, account-stuffing, or trading on behalf of others is universally prohibited. | Rules & Risk |
Why traders fail KYC (Know Your Customer)
Registering with mismatched details — the single biggest self-inflicted payout delay. Using a VPN that places you in a restricted country during verification. Waiting until payout day to prepare documents: have your ID and a recent proof of address ready before you request.
Frequently asked questions about KYC (Know Your Customer)
Why do prop firms require KYC?
To verify they're paying a real, eligible person — preventing fraud, multi-accounting, and payouts to restricted countries. It's standard across every legitimate firm.
When does KYC happen at a prop firm?
Usually at your first payout request, sometimes at account activation. Passing it once typically covers future payouts unless your details change.