What no-KYC actually means#
KYC ("know your customer") is the identity-document collection that banks and brokers must perform before holding your money. A no-KYC prop firm collects none of it — no passport, no selfie, no address proof — at signup orat payout. That is structurally possible because of what an evaluation firm actually is: trader accounts are simulated, so the firm never takes custody of trader assets and never executes real trades on a trader's behalf. What moves is the firm's own money, paid outward as a payout.
The wallet is the identity#
Something still has to anchor an account to a person, and in a no-KYC design that anchor is the payout wallet: a Solana address you verify on your profile, to which every payout is sent in USDC or SOL. The properties follow from the chain: payouts are public transactions anyone can verify on a block explorer, wallet changes can be cooldown-guarded against account theft, and "one person" is enforced through the wallet plus conduct monitoring rather than a passport scan.
How abuse gets policed without documents#
The honest answer: through the simulation itself. Because fills are priced from fresh on-chain reads with the trader's own impact charged, the classic multi-account exploits (hedging two accounts against each other, splitting orders, farming stale prices) are unprofitable at the fill level rather than merely forbidden on paper. On top of that sit published conduct rules — account limits per person, deployer-wallet screening, markout monitoring — enforced with evidence attached to the account record. A firm that can't explain its abuse model this concretely is relying on payout-time discretion instead, which is the thing you are trying to avoid.
The tradeoffs, stated plainly#
- You carry tax responsibility. No KYC means no tax forms; payouts are still income wherever you live.
- Wallet hygiene is on you. The payout wallet is the identity — losing its keys or verifying a wrong address is unrecoverable in a way a password reset is not.
- Judge the firm harder, not softer. With no regulator in the loop, the verifiable things are the rulebook, the fill model, and the on-chain payout history. Read all three.
Fullport is no-KYC by design — the privacy page lists exactly what is stored (an email, orders, trading records, a payout wallet) and what is never collected. Payout mechanics are in the rules.
Quick answers
- Are no-KYC prop firms legitimate?
- A no-KYC firm can be exactly as legitimate as any other — what matters is whether its rules are published, its fills are honest, and its payouts verifiably happen. Because trader accounts are simulated, the firm is not taking custody of your assets, which is what usually triggers identity requirements.
- How do you get paid without KYC?
- On-chain: you verify a wallet address on your profile and payouts are sent there in USDC or SOL. The transaction signature is public, so a firm's payout history can be independently checked on a block explorer.
Fullport Capital
One-step evaluations on live pump.fun, LaunchLab and Meteora prices. 80% split, payouts every 5 days, no KYC. The whole rulebook is public.