The client is a retail foreign-exchange brokerage focused on the Middle East, with a long tail of clients across more than eighty other countries. The product is straightforward: an MT4-based offering built around standard, micro, and professional account tiers in USD, served through a two-language trader portal and underpinned by a multi-level introducing-broker programme. The team came to Kenmore wanting one thing first and everything else second — a ready-for-market solution they could put in front of traders quickly.
We delivered exactly that, then spent the next eighteen months scaling the operation alongside them.
The initial setup invoice was issued on a Monday in the first week of July. The first trader registered on the platform on Friday of the fourth week. In between, we deployed:
The final-handover invoice closed out on the same day the first trader registered. Twenty-five calendar days, contract to operations.
The core of the deployment. The CRM gives the broker’s sales, retention, and back-office staff a single workspace for every trader interaction — task queues, notes, journal entries, KYC review, account creation, deposit and withdrawal approvals, and impersonation for support sessions. The Trader’s Room gives the end client a portal to register, complete KYC, manage MT4 accounts, deposit, withdraw, and see their full transaction history.
In the first quarter of operations, that workspace was carrying nearly five hundred internal tasks per month. At its busiest, more than fifteen distinct administrators were active concurrently across sales, finance, KYC, and support roles.
The brief was unambiguous: the client expected very heavy use of multi-level introducing brokers. We built the IB tree out to a depth of seven referral levels, with five distinct IB account groups (a top-line IB tier plus several named sub-tiers — “Aref-1,” “Aref-2,” and a Standard-3 tier — each with its own commission group).
In production, the IB program became the primary acquisition engine: roughly three out of every ten registered traders were attributed to an introducing broker. The deepest active referral chains ran four to seven levels — the kind of tiered network that simply isn’t achievable on raw MT4 without dedicated back-office technology behind it.
The payment stack ran through Kenmore’s Ninjacharge aggregator, with multiple PSPs sitting behind it. At launch the active rails were crypto (multiple coins and tokens — the dominant channel by transaction count), Perfect Money, and bank transfer, all backed by an admin-side manual channel for edge cases. In Year 2, Keyex was added as an additional PSP for both deposits and withdrawals.
The Trader’s Room presents the right rails to each client based on region; the back office sees every request as a routed task with attached receipts and reference IDs. Across the operational arc, the system handled deposit requests, withdrawal requests, and internal transfers — all through the standard Kenmore workflow.
A clean, single-platform deployment — no migration to manage. Eleven distinct MT4 account types were configured against the broker’s groups: Standard, Micro, Pro, demo, three IB tiers, and a pair of bonus groups (SO50 and SO500). Leverage tiers ranged from 1× through 1,000× depending on the account type, all configured through the standard Kenmore account-type catalogue without custom code.
KYC was handled through the Trader Documents module — submission, reviewer assignment, status tracking, expiration handling, and approval emails, all wired into the standard task workflow. Just under eight hundred KYC documents were processed through the lifecycle, an average of two documents per funded trader. The two-language portal and live-chat module were delivered as standard configuration.
Across the engagement, 174 tickets were processed: 124 change-requests, 46 net-new features. The bulk of feature work was concentrated in two windows — the launch sprint in the first month (55 tickets) and the post-launch refinement quarter that followed (47 tickets). After that, the cadence settled to roughly nine tickets per quarter — small, focused improvements like CSV financial reports, IB tree visualisations, leverage controls on the trader side, deposit/withdrawal email flow tweaks, and the Mailchimp integration.
Eighteen months of production use, six-figure deposit and withdrawal volumes, and a very manageable task load.
The introducing-broker network did what the brief asked it to do. Roughly three in every ten registered traders came in via an IB referral. IB-attributed traders were responsible for about a fifth of total deposit volume even though the program was only one of several acquisition channels — a strong contribution-to-headcount ratio that says the IB-recruited traders were sticky and active rather than just registrations.
The tree itself ran seven levels deep at its deepest, with the bulk of activity in levels one through four. A hundred and twenty-three IB accounts were live by the peak quarter.
Across the full operational window:
The last figure is worth lingering on. Support load was light enough that the broker’s mid-single-digit retention team in Year 2 was carrying the operation comfortably — not a function of cutting corners, but of a CRM that surfaced the right work without manufacturing busywork.
Three things, in our view.
One — Kenmore’s standard MT4 deployment is genuinely shelf-ready. Twenty-five days from contract to live traders is not a rushed minimum-viable launch; it’s a fully configured Trader’s Room, CRM, multi-level IB engine, four payment rails, eleven account types, two-language portal, and live chat. The client signed knowing what they were getting and got it on the timeline they were promised.
Two — multi-level IB depth is a real differentiator. Pure MT4 cannot run a seven-tier referral structure; the back-office technology does. When the brief said “very heavy usage of multi-level IBs,” that was the entire growth thesis. The data confirms it worked: a third of the trader base, a fifth of deposits, and the longest active chains running to depth seven.
Three — the platform scales beneath the operator without rewrites. The operation grew its deposit volume roughly fifteenfold and its withdrawal volume eightyfold from launch baseline to peak, on the same code path, with four bugs logged across the entire window and roughly nine custom-development tickets per quarter once the launch sprint was behind us. The platform stayed out of the way.
| Metric | Value |
|---|---|
| Time from contract to first live trader | 25 days |
| Trading platform | MT4 (single platform, no migration) |
| Active MT4 account types | 11 |
| IB tree maximum depth | 7 referral levels |
| IB account groups configured | 5 |
| Trader base attributed to IBs | ≈ 30% |
| Deposit volume share via IB-attributed traders | ≈ 21% |
| Email-confirmation rate | 78% |
| Avg deposits per funded trader | 3.7 |
| Avg withdrawals per active withdrawer | 7.5 |
| Geographic reach | 80+ countries |
| Languages supported | 2 |
| Peak monthly deposit volume vs launch baseline | 14.7× |
| Peak monthly withdrawal volume vs launch baseline | 80.5× |
| Year-over-year deposit growth (Q1 Y3 vs Q1 Y2) | ≈ 9× |
| Year-over-year withdrawal growth (Q1 Y3 vs Q1 Y2) | ≈ 29× |
| Cumulative withdrawal-to-deposit ratio | ≈ 1.07 : 1 (mature flow) |
| Custom-dev velocity (Year 2 average) | ≈ 9 tickets per quarter |
| Concurrent admins at peak | 17 |
| Support tickets per funded trader | < 1 |
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