KYC Policy
This KYC Policy is applicable to users of the MadMarket platform who meet specific criteria, such as making an aggregate lifetime total of deposits exceeding EUR 2000 or requesting a withdrawal of any amount. It is mandatory for such users to undergo this KYC process in accordance with the following procedures.
Upon document submission, the user receives a “Temporarily Approved” status. The KYC Team has a 24-hour window to review the documents and communicate the outcome to the user:
Copy of Government Issued Photo ID (front and back, with all four corners of the document visible);
Selfie holding the ID document (if required)
Bank statement/Utility Bill (with all four corners of the document visible)
Users with “Temporarily Approved” status can use the platform normally but are restricted from completing any withdrawals.
1. Proof of ID
a. Preferable inclusion of a signature.
b. Restricted countries include but are not limited to:
d. Document should not expire within the next 3 months.
e. Owner must be over 18 years of age.
2. Proof of Residence:
a. Acceptable documents include Bank Statements or Utility Bills.
b. Restricted countries apply.
c. Full name must match the client’s name and match the proof of ID.
d. Date of issue should be within the last 3 months.
3. Selfie with ID:
a. The holder must be the same as in the ID document.
b. Ensure the ID document corresponds to the one submitted in Proof of ID.
a. Preferable inclusion of a signature.
b. Restricted countries include but are not limited to:
- Afghanistan
- Australia
- Austria
- Comoros
- Cyprus
- Democratic Republic of North Korea
- France and its territories
- Germany
- Iran
- Kazakhstan
- Myanmar
- Netherlands and its territories
- North Macedonia
- Singapore
- Spain
- Sweden
- United Kingdom
- USA
d. Document should not expire within the next 3 months.
e. Owner must be over 18 years of age.
2. Proof of Residence:
a. Acceptable documents include Bank Statements or Utility Bills.
b. Restricted countries apply.
c. Full name must match the client’s name and match the proof of ID.
d. Date of issue should be within the last 3 months.
3. Selfie with ID:
a. The holder must be the same as in the ID document.
b. Ensure the ID document corresponds to the one submitted in Proof of ID.
In the event of an unsuccessful KYC process, reasons are documented, and a support ticket is created in the system. The user is then provided an explanation and guidance on how to pass the Company’s KYC process.
Account approval is granted once all required documents are in the Company’s possession.
Account approval is granted once all required documents are in the Company’s possession.
Users who have not completed full KYC cannot make additional deposits or withdrawals.
Users who have successfully passed the KYC process are subject to a detailed algorithmic and manual check on their activity and balance before any withdrawal is processed, ensuring that the amount withdrawn is a result of proper platform activity.
Users who have successfully passed the KYC process are subject to a detailed algorithmic and manual check on their activity and balance before any withdrawal is processed, ensuring that the amount withdrawn is a result of proper platform activity.