KYC stands for 'Know Your Customer'. It's essentially a process that companies use to verify the identities of their customers. The primary goal of the KYC procedure is to confirm your identity and your residence outside of high-risk countries, such as North Korea.
KYC includes ID verification and a Liveness check, which involves a selfie to prove that you are indeed the holder of the ID. If the document used for ID verification does not include your address—like an electricity bill might—another document that does contain your address will be required.
The KYC process is handled by an external provider, Sumsub, and typically takes 2-3 minutes to complete.
In addition to KYC, we may also conduct a verification call to further confirm your identity. This verification occurs after you have completed a challenge, before you are granted access to the For Traders Account (Funded Stage) of before your payout.