6. KYC ONBOARDING FLOW (STEP-BY-STEP LEGAL DESIGN)
STEP 1 – ACCOUNT CREATION
User inputs: Name; Email; Password; ✔ Log: Timestamp; IP address; STEP 2 – ELIGIBILITY SCREEN (MANDATORY GATE).
User must confirm: Legal age; Technical setup; Trading account; Market data subscription; ✔ Checkbox required to proceed; STEP 3 – LEGAL ACCEPTANCE (CRITICAL STEP). Display: Terms of Service; Privacy Policy; Risk Disclosure.
User must check ALL: ToS acceptance; Risk acknowledgment; No refund agreement; Recording consent; Privacy consent; ✔ Store: Timestamp (UTC); ToS version; IP address; Device info; STEP 4 – KYC VERIFICATION. Collect: Government ID; Selfie verification; Via third-party provider; ✔ Store verification token (not raw data where possible); STEP 5 – PAYMENT & SUBSCRIPTION. User: Selects plan; Completes payment; ✔ Log: Payment confirmation ID; Subscription start date; STEP 6 – DEVICE BINDING. Capture: Machine ID; Device fingerprint. Enforce: 1 user = 1 device policy (or controlled limits); STEP 7 – ACCOUNT ACTIVATION.
Grant access only after: KYC approval; Payment confirmation; Legal acceptance; STEP 8 – AUDIT LOGGING (CRITICAL).
System must store: User ID; Timestamp (UTC); IP address; Device ID; ToS version accepted; Payment ID; FINAL NOTE (CRITICAL IMPLEMENTATION GAP MOST COMPANIES MISS).
If you do NOT: Log consent properly; Separate checkboxes; Store ToS version; Then:.
Your legal protection weakens significantly in disputes.