When a prop firm needs KYC
Most firms verify a trader before the first payout: that is where a fake identity costs you money. Some verify earlier, at purchase or when a funded account is activated. PropShopTrader, for example, requires KYC for its funded account and renews it every year 1.
In our experience manual checks work at launch, while volume is small. Automate when payouts become frequent or abuse starts, which in our experience happens once people know your name.
KYC providers prop firms use
We list what each provider publishes, with the source and the date we checked it. This is not a ranking and no provider has paid to appear here.
| Provider | What is published |
|---|---|
| Sumsub | Published plans: Basic at $1.35 per verification ($149 monthly minimum), aimed at non-regulated businesses; Compliance at $1.85 ($299 minimum), adding AML screening and proof of address. 4 Checked 29 Oct 2026Device intelligence, powered by Fingerprint, that flags multi-accounting, VPN or proxy use and remote-access software after KYC. 5 Checked 29 Oct 2026Integrated into Match-Trade's Client Office CRM for automatic checks of ID documents, addresses, phone numbers and emails, plus sanctions screening. 6 Checked 29 Oct 2026 |
| Veriff | Self-serve plans from $0.80 per verification ($49 monthly minimum) to $1.89 ($209), for under 5,000 checks a month; higher plans add review by human specialists. Larger volumes are custom-priced. 7 Checked 29 Oct 2026A native KYC integration in YourPropFirm's prop firm platform. 8 Checked 29 Oct 2026 |
| Shufti Pro | Free for up to 10 verifications a month; paid plans from $1.50 per verification. 9 Checked 29 Oct 2026A native KYC integration in YourPropFirm's prop firm platform. 8 Checked 29 Oct 2026 |
| iDenfy | FTMO selected iDenfy's KYB product to verify its corporate clients. 10 Checked 31 Oct 2026 |
All three connect to prop firm back offices; PropShopTrader names Veriff as its identity provider 1. Your platform or CRM vendor will usually have a preferred integration, which saves weeks of work.
What a KYC check covers
A provider sells these as separate features, and the plan you pick decides which you get.
- Document verification. Is the passport, ID card or driving licence genuine, and does it match the name on the account?
- Liveness and face match. Is a real person holding that document right now, not a photo or a deepfake?
- Proof of address. A utility bill or bank statement, often needed by your payment provider rather than by you.
- Sanctions and PEP screening. Is the trader on a sanctions list or a politically exposed person? Run it before you pay anyone.
- Device and duplicate checks. Has this face, document, device or card already been used on another account?
What KYC costs
KYC is priced per verification, usually with a monthly minimum. The providers above publish self-serve prices from $0.80 to around $1.90 per check; AML screening and proof of address cost more, and high volumes are negotiated.
Run your own numbersThe cost estimator puts KYC next to the platform, payments and your payout reserve.Open the cost estimatorKYC alone does not stop abuse
KYC passes once. The patterns that cost prop firms money happen after it:
- Multi-accounting. One person with several verified accounts, sometimes using relatives' identities.
- Account sharing and passing services. The verified trader is not the one trading.
- Hedging across accounts. Opposite positions in two accounts so one of them passes.
Countries and fraud data
KYC providers publish their own fraud data, which helps you decide where to look harder. Sumsub's 2025-26 report named Iraq, Pakistan, Tanzania, Argentina and Latvia as the highest identity-fraud rates in their regions 2; the list changes every year. Countries on the FATF call-for-action list, which in June 2026 was Iran, North Korea and Myanmar 3, should be blocked outright.