What is KYC, and what should I know about its verification process?

Understanding KYC

KYC, or Know Your Customer, is a standard identification process used to verify a user’s identity and address. This is a regulatory requirement aimed at ensuring account security and compliance with legal standards, such as preventing fraud or money laundering.

When is KYC Verification Required?

In the context of the application Funding Your Trades, KYC is required before they get to the funded stage. It is not necessary to complete KYC before purchasing an account. Customers can buy accounts without undergoing the KYC process, but they must provide verification before they get their funded account.

What Documents Are Needed for KYC Verification?

To complete the KYC verification process, you’ll need to submit the following documents:

1. Proof of Identity – a valid government-issued ID, such as:

• Passport
• Driver’s License
• National ID Card

2. Proof of Address – a document showing your current address, such as:

• Utility bill (issued within the last 3 months)
• Bank statement (issued within the last 3 months)

3. Selfie – A photo of yourself.

Ensure the documents are clear and legible to avoid delays in verification.