Know Your Customer (KYC)
Know Your Customer (KYC) is a process used to verify the identity and residential address of all individual users and relevant owners and controllers of a business applicant in order to meet Anti-Money Laundering (AML) regulatory requirements.
By cooperating, you’re helping create a safer, more compliant environment for all users on the platform.
Every Rails Pro user must complete two steps before they can trade:
Identity Verification Requirements
Identity verification consists of two components:
ID Scan: Provide a valid, government-issued ID to be verified.
Biometric Facial Recognition: A selfie liveness check is done to ensure you are the holder of the ID.
The following specifies which documents are acceptable as well as tips to ensure your ID scan is successful.
At least one of the following government-issued IDs is required to verify your identity:
Passport
Photo driver’s license with signature
Armed Forces ID
Other Government-issued Photo ID
The following requirements will ensure your ID document verification is successful:
The document must be valid (i.e. not expired).
The document must be in good condition (i.e. not scratched, torn, or stained).
You must upload an original photo (i.e. screenshots and edits are not permitted).
Both front and back are required, where applicable.
The photo must be in color and easily readable.
All corners of the document must be visible.
Proof of Address
Proof of Address (PoA) is a process which helps us confirm that you reside in a permitted country. You can verify your address in one of two ways:
Identify your physical location based on your device’s IP address, GPS, or network data. This is the quickest way to verify your address, but is not mandatory.
Requirements
You must enable location services when prompted to do so.
VPN’s or other location masking tools are not permitted.
You must be physically located in the same country as that of your ID document.
If you don't meet the above requirements, you will be required to complete documentary PoA verification.
Provide a personal document that was issued in the last 3 months to verify your address. Acceptable documents include:
A bank statement, credit card statement, utility bill or other similar document.
Contract of employment or banker’s or employer’s written confirmation (must be notarized).
Requirements
Identity documents which state your address (e.g. driver's license) are not permitted.
The name on the document must match the name on the IDV document.
The issue date of the PoA document must be within the last 3 months.
The address cannot be a PO Box.
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