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Payouts

KYC

You only need to verify your identity once your total payouts pass $100,000.

Backed does not ask for identity checks to sign up, buy an account or trade. KYC is only required once your total payouts pass $100,000.

When it is triggered

If a payout request would take your lifetime payouts above $100,000, the request shows KYC required. Complete verification and the request continues.

Where you stand

The Eligibility panel on the Payouts page shows your running total, for example "Not needed until total payouts pass $100,000 ($1,200 so far)".

What you will need

  • A valid government-issued photo ID.
  • A selfie or short liveness check.
  • In some cases, proof of address.

Good to know

  • Verification is a one-time step for your profile, not per account.
  • The name on your ID must match the name on your Backed profile.
  • Residents of restricted countries cannot receive payouts. See our Terms of Service.

Last updated 26 September 2026

Backed

Backed accounts are simulated. Trades are placed against live market prices, but no orders reach a real market and account balances are not deposits. Payouts are paid in real funds, in crypto or through Rise, under the rules in these docs.