How much does KYC verification cost per trader?
Quick answer
KYC providers usually charge per verification, with the price depending on the checks included (document, liveness, address, sanctions screening) and your volume. Many prop firms verify only at the first payout rather than at purchase, which keeps the number of paid checks close to the number of funded traders.
Detailed answer
How firms keep KYC costs under control:
- Verify at payout, not at challenge purchase. Most buyers never reach a payout.
- Choose the checks you need: identity document and liveness are standard; address and enhanced checks cost more.
- Screen against sanctions lists for everyone you pay.
- Negotiate on volume once you know your monthly payout count.
KYC also helps detect one person running several accounts, which some rules prohibit. PropExecutor does not run KYC; it stores a trader record with a name and email, and your KYC provider runs the identity checks. Many firms record the verified identity in their own CRM and match it to the trader record.
Choosing a provider
Compare providers on price per check, supported countries and documents, pass rates for genuine customers, and how long checks take. A slow or strict process delays payouts and frustrates traders, which costs more than a slightly higher price per check.
Repeat checks
Many firms verify once and re-check only when details change, which keeps costs close to one check per paid trader.
PropExecutor team · Updated