The client started this engagement as a known quantity — an established retail forex broker with its own trading school — and finished Year One running something different: a multi-tenant prop-firm platform powering both their own brand and a roster of partner brands, all on one Kenmore back office. This is the story of how that transition happened and what the operational data shows about the platform underneath it.
The client is a long-running African retail forex brokerage that had already built a sizeable trader base on its own platform before approaching Kenmore. They had three things most prospective prop-firm operators don’t:
What they did not have was a prop-firm product. Increasingly, traders inside their education funnel were asking for funded-account challenges instead of (or in addition to) live forex accounts. The client wanted to monetise that demand without disturbing the existing brokerage business. They came to Kenmore for a prop-firm CRM that could plug into their existing infrastructure rather than replace it.
Setup began with a non-custom edition of the Trader’s Room Prop. Firm Edition wired to MT5. From signed proposal to live registrations took roughly thirty days.
Three South-African and African payment providers — OZOW (instant EFT), PayFast (cards/EFT), and a regional crypto rail — went live by Month 2, ahead of any meaningful volume. The trader-facing portal launched in two languages. The Affiliate module went live alongside the master label so that the client’s existing affiliate network could earn commission on prop-firm referrals from day one.
Within the first quarter, the platform was running its first paid challenges, the first IB commission events were processing, and the first KYC documents were being approved through the platform’s KYC pipeline.
The pivotal decision came around Month 5. The client realised that the platform could be used to power other people’s prop firms. Kenmore’s Regions architecture allows multiple Trader-side environments — each with its own domain, branding, email identity, deposit options, language settings, and admin role scoping — to run on a single CRM Admin back-end. The client decided to commercialise this.
Over the following eight months, Kenmore set up a sequence of new regions on top of the same master setup:
The economic structure mirrored what Kenmore designed the Regions feature for: the master operator handled all funds in/out through one consolidated set of PSPs and one MT5 connection, while per-region administrators ran their own brand, marketing, IB programs, and trader-facing flows. The master operator paid Kenmore a monthly platform fee plus a per-region setup-and-monthly fee for each white-label region; partners paid the master operator on terms negotiated independently. Kenmore built it; the client turned it into a recurring revenue stream they didn’t have before.
The single most consequential technical decision in the engagement was the integration with the client’s existing forex CRM. This was custom work: an automated push that let the client move a registered forex client into a prop-firm region with their identity, KYC status, Affiliate attribution, and contact preferences intact.
The data shows what that integration unlocked. The first four months on the platform produced steady, modest registration volumes — hundreds per month. In Month 7, a single bulk migration moved roughly two hundred times that monthly baseline into the operator-branded region: more than nine in ten of that month’s new traders went straight to the new region with promo codes attached. The remaining months continued at a higher baseline than before because the migration didn’t cannibalise organic acquisition — it created a permanent uplift in the “active universe” the master label was marketing into.
This is the proof point most prop-firm founders ask about and few can demonstrate cleanly: it is possible to bring an existing forex book over to a prop product without re-onboarding from scratch, because the same CRM can hold both customer types under the same identity model.
Custom dev was steady and concentrated in the months immediately after the operational peak — the period when the client was learning what their traders did differently from the generic prop-firm trader. Notable custom work, in rough order:
Each of those came from a real operational ask, not a roadmap; the cadence reflects the platform absorbing the client’s specifics over Months 4–13 rather than any single big-bang phase.
Registrations grew exponentially in the first half of Year One, then took a step-change in Month 7. The first non-trivial month produced a baseline; by Month 6 the platform was running at roughly 125× that baseline organically. Month 7 — the bulk migration of the client’s pre-existing forex client base into the new operator-branded region — delivered a single-month spike of approximately 210× the baseline, more than ninety percent of which routed to the new region under promo codes. Subsequent months stabilised at roughly 3–5× the pre-migration steady state, indicating the migration was additive, not a one-time event mistaken for organic growth.
Successful challenge purchases peaked in Month 9 at roughly 93× the first non-trivial purchase month. The August–October stretch of Year One produced more than 60× as many successful challenge purchases as the February–April stretch — a quarter-over-quarter expansion of the income side that tracked with the migrated audience monetising into the funnel.
Average challenges per buyer landed at 1.8. Across the whole period, the median active buyer purchased almost two challenges — a strong repeat-purchase signal for an audience that was in many cases discovering prop-firm products for the first time.
The challenge-revenue-to-payout ratio held at roughly 18:1. Challenge purchase revenue exceeded funded-trader profit payouts by approximately eighteen to one across the cutoff window. The funded-trader payout pool is still in early days — the platform was processing meaningful volumes of challenge purchases well before its first cohort of traders cleared the evaluation phase, which is consistent with prop-firm economics in the first year of any operator’s lifecycle.
IB (Affiliate) attribution sat near 27%. Roughly one in four registered traders came in attached to an IB account, with the program covering more than 100 active IBs. This is high for a Year-One prop-firm operation and reflects the client’s pre-existing affiliate network being plugged into the new product from launch.
KYC, email, journal, and task volumes scaled in lockstep. Across the peak quarter (Months 8–10), the platform processed roughly 60% of all KYC documents in the entire dataset, sent more than half of all customer emails, and recorded almost two-thirds of all client-journal events.
Geographic reach expanded to 191 countries, with the trader base concentrated overwhelmingly in Africa (roughly 72% of all registrations) and South Asia (roughly 18%). The single largest country of origin was not in fact in the operator’s home market — the data shows a near-equal split between the two leading African countries, with several other African nations producing material volumes. The platform was built once and pulled traders from a much larger map than the client’s original brokerage ever did.
Email confirmation held at 84% across the full population — high enough to indicate the registration funnel was not being polluted by junk traffic, low enough to suggest there’s still acquisition headroom in the un-confirmed cohort.
Per-region sizing shifted as the white-label business matured. At the strategic peak (Month 13), the operator’s own branded region accounted for roughly 60% of all traders, the master label for roughly 39%, and the four external white-label regions for the remaining.
In thirteen months, the client built and configured 338 distinct challenge product variants across 29 categories — One-Step, Two-Step, Three-Step, Three-Phase, Pro, Smart, Instant Funding, Free Trial, Competitions, plus partner-specific tiers. The peak month for new product configurations alone produced 87 new challenge variants, more than the entire first quarter of operations had built. Each white-label region was able to define its own product line under the same engine. Promo codes scaled in step: roughly 2,800 codes were created across the period and used over 18,000 times, with the heaviest single month of usage being the Month 7 bulk migration.
For a Year-One prop-firm operator, that level of product diversity tends to be a leading indicator of operational sophistication. It means the team trusted the platform enough to iterate on what they offered every week.
A few things about Kenmore’s platform that this engagement demonstrates clearly:
Speed-to-market. Setup-to-first-trader took roughly thirty days, with three regional PSPs live before meaningful volume hit the funnel. There was no parking lot of “we’ll integrate that later” to slow down launch.
The Regions architecture works as a business model, not just a feature. This client didn’t just operate two brands — they turned their Kenmore deployment into a white-label platform and onboarded six additional regions on top. The client now sells the platform itself, in addition to selling challenges through the platform.
A forex brokerage can bridge into a prop firm without re-onboarding its book. The single most valuable custom integration in the engagement was the connector between the client’s existing forex CRM and the new prop-firm region. The Month 7 migration showed it worked at scale.
The platform absorbs custom risk logic without breaking the standard model. Consistency Rule, Profitable Days Counter, custom trailing drawdown — these went in alongside the standard daily-loss/total-loss enforcement without requiring a fork. New rule shapes get added; old rule shapes keep running.
Emerging-market PSP coverage is a delivery problem, not a research problem. The client wanted PSPs in South Africa, Nigeria, and South Asia, plus crypto, plus global cards, all routed through one aggregator and tunable per-region. Kenmore delivered ten distinct integrations across the period, the bulk of them inside the first eight months, before the platform hit its operational peak.
Multi-region doesn’t require multi-system. One MT5 server, one KYC pipeline, one Risk Management module, one Tasks queue powered seven regions with their own brands, languages, deposit options, and admin role scoping. The operational footprint barely grew with each new region added.
| Metric | Value |
|---|---|
| Time from signed proposal to first live trader | ≈ 30 days |
| Regions live on one Kenmore backbone | 1 → 7 (in 13 months) |
| External white-label partner regions onboarded | 5 |
| Challenge product configurations built | 338 |
| Challenge categories | 29 |
| Live PSP integrations (excl. aggregator) | 10 |
| Languages supported | 2 |
| Countries with registered traders | 191 |
| Africa share of registered trader base | ≈ 72% |
| IB-attributed share of registered traders | ≈ 27% |
| Active IBs in network | 100+ |
| Average challenges per buyer | 1.8 |
| Challenge-revenue : funded-payout ratio | ≈ 18:1 |
| Email confirmation rate (cohort-wide) | ≈ 84% |
| Month-7 single-month registration spike vs Month-1 baseline | ≈ 210× |
| Peak-month challenge purchases vs first-real-purchase month | ≈ 93× |
Whether you're launching one brand or running a white-label platform with seven, Kenmore's Regions architecture is built to scale without re-platforming. Talk to us about your operation.
One CRM. Seven regions. Zero re-platforming.
