Guides / Guide
Identity verification (KYC) for prop firm payouts
When you verify your identity, which documents you need, who reviews them, how the files are stored, and what else must be in place before a reward.
You can buy and trade a challenge without showing an identity document. Verification comes later, once you have passed, because rewards are paid to a verified person. This guide covers when it happens, what you send and what is checked.
When
- After you pass. When the last evaluation phase is passed, the app asks you to verify before the funded account is issued.
- Again, sometimes. If more than 180 days pass between verification and your first reward request, you verify again before that reward.
What you send
- A valid passport (the photo page), national ID card or driving licence (front and back).
- A selfie holding the document, taken with your camera.
- Your full legal name, date of birth, country of residence and address, and the document's number, issuing country and expiry date.
What is checked
- The document is genuine, valid and in your name, and the selfie matches it.
- You are 18 or older, and you live in, and hold a document from, a country we serve. The restricted countries are listed at the bottom of every page.
- A sanctions and politically-exposed-person screening.
- One person, one identity: accounts held for or by someone else are closed.
A member of our team reviews every submission by hand. The app shows the expected decision time while it waits. If something is missing or unreadable, the reviewer asks for that item again with the reason, and everything else you sent stays as it is.
How your files are kept
The files are encrypted and stored privately. Only verification staff can open them, and every view is logged. They are kept for the period the law requires and then deleted. The privacy policy and the AML and KYC policy have the details.
What else a payout needs
Verification is one of several conditions. Before a reward can be requested, the app also needs:
- the trader agreement, signed after verification;
- two-factor authentication on your account;
- a bitcoin address, added in the app and confirmed from the email we send, past its cooling-off period;
- an open payout window and a share above the minimum of $50, with all positions closed.
How payouts in bitcoin work follows the request from the dashboard to the on-chain transaction.
Related
- How payouts in bitcoin workA prop firm that pays in bitcoin: when you can request a reward on a funded account, how much it can be, what is checked and how it is paid.
- Funded accountA funded account is the simulated account you trade after passing the evaluation; it keeps the loss limits and lets you request rewards.
- FAQ
- Paying for a prop firm challenge with bitcoinPriced in US dollars, paid in bitcoin through a BTCPay Server invoice: the checkout steps, and what happens if a payment is late, short or too large.