Does a prop firm need a privacy policy and a refund policy?

Privacy policy should explain what you collect (account, payment, KYC and trading data), why, who processes it (payment, KYC, email and platform providers), how long you keep it, and how people exercise their rights.

Refund policy should state when fees are refundable, for example before the account is used, and when they are not, for example after trading starts or after a breach, plus how to request a refund and how long it takes.

Payment providers check these pages during onboarding, and card networks consider them when you contest a chargeback. Publish both before your first sale and link them from checkout. This is general information, not legal advice.

Keep them consistent

The refund policy on your website, the policy stated at checkout and what support actually does must match. Inconsistencies are a frequent reason chargebacks are lost.

Review both whenever you add a new provider, a new country or a new product, and date each version so you can show which applied to a given purchase.