Two Regions, Two Platforms, Tens of Thousands of Traders: A Globally-Trading Prop Firm’s 24-Month Run on Kenmore

About the client

The client is a proprietary trading firm headquartered in the Gulf with a globally-trading audience. Their challenge funnel sells to retail traders in more than two hundred countries — the largest cohorts come out of the United Kingdom, the United States, India, France, Germany, and the Mediterranean — and the entire trader-facing experience is delivered in English. They run a comprehensive product line: one-step, two-step, and three-step evaluation challenges alongside instant-funding and instant-pro variants, with both fixed-drawdown and trailing-drawdown risk models.

The launch — contract to live traders in roughly a month

The initial setup invoice was issued in the third week of the first month. The first trader registered on the platform thirty-two days later. The final-handover invoice closed out about six weeks after sign-on. In between we deployed:

• The full Kenmore Prop Firm Trader’s Room and CRM, configured against the standard Matchtrader stack;
• Express Checkout for the public challenge funnel;
• Transactional and marketing email;
• Live chat;
• Express-checkout payment integration via Paytiko, sitting behind our Ninjacharge aggregation layer for routing;
• Branding (logo, header, footer, favicon) and the trader-facing portal with affiliate URL redirection.

The first wave of fifty-plus tickets was concentrated in that opening sprint. After the launch settled, the cadence of custom-development work dropped to a handful of tickets per month and stayed there.

What we delivered

The Prop Firm CRM and Trader’s Room

The core of the deployment. The CRM gives the firm’s directors, support team, and risk team a single workspace covering every trader interaction: a unified task queue across deposits, KYC, demo-stage wins and losses, live-account creation, payout requests, IB commissions, and support tickets. The Trader’s Room gives the end client a portal to register, complete KYC, buy and retake challenges, manage their accounts across both regions, and request payouts.

Across the operational arc the task workflow handled an order-of-magnitude growth in throughput between Year 1 and Year 2 — including a single autumn month in Year 2 that ran at roughly 2.4× the typical month’s task volume — with no platform-side intervention. The full client-journal audit trail and admin-action audit trail back every entry. All of it sat behind a four-person in-house admin team for the client, supported by the Kenmore team for system administration.

Challenge Management — the product factory

This is what the platform does best, and it shows in the data: more than 870 distinct challenge configurations were built and sold over the engagement. The configuration catalogue spans one-step, two-step, three-step, instant, and instant-pro categories, in fixed-drawdown and trailing-drawdown risk modes, mapped to the firm’s MT5 and Matchtrader account-type catalogues.

Product velocity was deliberately uneven. Year 1 saw roughly ninety challenge configurations created — enough to launch and operate. Year 2 saw the number expand by an additional eight-fold-plus as the firm leaned into seasonal product cycles, special-event challenges, and partner-exclusive offers. A single autumn month in Year 2 saw 130 new configurations spun up for one promotional run; a single early-winter month in Year 2 saw more than 300. Configuration is a no-code surface for the firm’s product team — they don’t need a developer to launch a new challenge variant — and they used that surface aggressively.

Risk Management and Leaderboards

Trailing drawdown was added as a custom trigger type early in the engagement (a feature the firm requested specifically — see Custom Development below — that has since become standard across our prop-firm install base). Roughly a third of the firm’s challenge configurations now use trailing-drawdown rules. The risk team itself was added as a dedicated admin role late in Year 2 — a sign of organisational maturity rather than a gap; the platform was already enforcing the rules in production, and the firm staffed up to act on what it was seeing.

Multi-region operation — two brands, one CRM

The firm runs two regions on a shared platform. The primary brand launched in the first month. A second brand was deployed in Month 5 — a complete additional region with its own logo, favicon, MT5 integration, deposit/withdrawal flow, regional email sender, and account-uniqueness rules separated from the main brand. Region-aware checks ensure a trader can hold accounts on both brands without identity collision; regional emails go from the right sender; and the back office sees both regions in one task queue with a region tag.

The second region carries roughly 9% of trader registrations but contributed disproportionately during its active window in Year 1 and the early part of Year 2 before the firm consolidated focus back onto the primary brand.

Trading-platform integrations and migrations

The launch was on Matchtrader. MT5 was added in Month 5 alongside the second-region rollout, which gave the firm two trading platforms running concurrently against the same Trader’s Room. Across the engagement we then handled two distinct MT5 server migrations — accounts, groups, and trading-history — without breaking the customer-facing flow:

• End of Year 1 / start of Year 2: a full migration of trading accounts from the original MT5 server to a new MT5 deployment. This was the larger of the two: deploy the new server, migrate accounts and groups, switch routing in the Trader’s Room, retire the old server.
• Mid-Year 2: a second MT5 service deployment that consolidated the platform footprint and brought all regions onto the current production MT5.

Concurrent with the MT5 work, we also performed a migration of accounts from MT5 onto Matchtrader for traders on certain product lines — moving funded-trader populations between platforms based on the firm’s risk and execution preferences. Through all of it, the published challenge funnel kept selling and the existing funded traders kept trading.

The standard Matchtrader integration handles everything from account creation to leverage tier assignment to demo-versus-live promotion through the Kenmore account-type catalogue, with no custom code on the platform side.

Payment Solutions — the merchant stack

The active payment stack for challenge purchases settled into:

• Paytiko as the primary PSP, carrying roughly 93% of successful challenge-purchase volume by dollar amount;
• Ninjacharge as the routing/aggregation layer above the PSP layer;
• An admin-side manual approval channel for edge cases and offline reconciliation.

The dollar-share is concentrated, but the operational benefit isn’t the number of merchants — it’s that adding or swapping a PSP behind Ninjacharge is a configuration change rather than a code release. The integration was sized to grow.

Affiliates — the program migration

Two distinct partner-program models ran during the engagement, and the transition between them is part of the story.

The original Affiliate engine ran from launch through the start of Year 2 — multi-level commission rules and automated commission-event task workflows for every qualifying challenge purchase. In the second quarter of Year 2 we migrated the firm onto a renewed Affiliates module — leaner, with cleaner reporting and a tighter integration into the Kenmore Affiliate Tree visualisation — and the Affiliate-account creation queue handed off to the Affiliate-account creation queue. By end-of-window the firm had a partner account base running into the high hundreds, combined across both program generations.

The commissions ran to several hundred commission events through the engagement, but the program is deliberately a top-up rather than the primary acquisition channel — direct sales through the seasonal promo calendar (see below) is the engine.

Express Checkout and the seasonal promo engine

Challenges are purchased through a single-page express checkout linked from the firm’s marketing site, with the Kenmore Promo Codes module powering the discount layer.

In Year 1 the promo engine carried the bulk of the discounting work: 76 distinct promo codes built around a calendar of seasonal events (summer, year-end, retake offers, holiday-themed campaigns, Black Friday, Cyber Monday, and several holiday-themed campaigns each year), generating roughly 8,500 discount-applied checkouts. The single best-performing code drew nearly 2,800 uses; the next, more than 2,400. In Year 2 the firm shifted strategy and moved most discounting into the challenge-configuration layer itself (price-vs-list directly on the product), which simplified attribution but kept the seasonal cadence going through the configuration build-out.

KYC, multi-language, live chat, and the trader documents pipeline

KYC ran through the standard Trader Documents module — submission, reviewer assignment, expiration handling, approval emails, and AML scoring all wired into the task workflow. The processed-document-to-registered-trader ratio sits at just under one document per registered trader across the operational arc. KYC is gated to the funded-trader stage rather than registration, so the bulk of submissions concentrate on the population that’s actually about to be paid out.

The portal is single-language English, which suits the firm’s globally-trading audience — the trader population spans more than two hundred countries but registers and trades in English. Live chat is on by default for the trader portal and the public site.

Custom development — controlled and themed

Across the engagement several customization projects were implemented for this project. The breakdown:

5 net-new features, every one of which is now part of the standard Kenmore prop-firm build:

• Trailing Drawdown as a new trigger type (early Year 1) — a feature originally requested by this client; we built it as a generic trigger and it’s been part of the platform since;
• Region integration for the second brand (Month 5);
• MT5 integration as a per-region addition (Month 7);
• MT5 migration tooling (start of Year 2);
• A new admin role plus refined permissions model (mid-Year 2), supporting the firm’s split between read-only support staff and the dedicated risk team.

43 task and sub-task tickets, most of them concentrated in the launch sprint and the two MT5-migration windows.

The “3 bugs in 24 months” line is the one we’re proudest of. Tens of thousands of traders, two trading-platform migrations, two affiliate-program generations, an order-of-magnitude jump in payout throughput, and three logged bugs.

What the data says

We deliberately keep absolute figures out of published case studies — what the operator banks and what they pay out is the operator’s information, not ours. The shape of the curve, indexed and ratioed, tells the story.

Year-over-year — the funded-trader pool matured

Comparing Year 1 (Months 1–12) against Year 2 (Months 13–24) in cumulative terms, indexed to Year 1 = 1.00:

Series	Year 1	Year 2	YoY multiplier
Challenge-purchase count	1.00×	1.39×	1.4×
Challenge-purchase revenue	1.00×	8.20×	8.2×
Payout count	1.00×	6.08×	6.1×
Payout dollar volume	1.00×	3.69×	3.7×

The asymmetry is the story. Challenge-purchase revenue grew year-over-year — solid for a maturing prop firm, with the seasonal-event surges doing the heavy lifting. Payout volume grew 3.7× in dollars and 6.1× in events. The funded-trader pool from Year 1 cohorts didn’t go away; it kept compounding, kept hitting payout milestones, and the back office processed every one of them through the same task workflow.

The peak — Q3 of Year 2 saw payouts run nearly 9× the launch-quarter baseline

Indexing each quarter against the firm’s first stable operating quarter (Y1 Q2 — Months 4–6 — = 1.00):

Quarter	Purchase volume	Payout count	Payout dollar volume	Pay-to-purchase ratio
Y1 Q2 (baseline)	1.00×	1.00×	1.00×	0.43 : 1
Y1 Q3	1.04×	1.19×	1.62×	0.66 : 1
Y1 Q4	1.08×	1.77×	2.09×	0.82 : 1
Y2 Q1	0.72×	3.37×	2.69×	1.60 : 1
Y2 Q2	2.04×	5.96×	3.68×	0.77 : 1
Y2 Q3	0.68×	9.74×	8.92×	5.58 : 1
Y2 Q4	0.58×	5.88×	3.38×	2.47 : 1

The Q2-of-Year-2 promo surge — operational stress test

A single promotional month in the autumn of Year 2 ran the operation through its hardest stress test:

• 3.95× the typical month’s challenge-purchase count;
• 3.35× the typical month’s challenge-purchase dollar volume;
• 2.4× the typical month’s task throughput;
• 2.8× the typical month’s live-account creation count;
• 130 new challenge configurations created in that single month.

The platform processed it all without any custom intervention. The promo engine, the task workflow, the live-account creation pipeline, the KYC document review queue, and the payout queue all scaled within the same code path. The firm’s four-person admin team carried it.

Trader engagement and quality

Across the operational arc:

• 89% of paying customers buy a challenge on the same day they register — a high-intent, marketing-led funnel where the public site is doing the conversion work and the Trader’s Room is taking the handoff;
• 94% make their first purchase within the first week;
• 3.6 challenges purchased per buyer on average — strong repeat behaviour, consistent with the prop-firm model where retake economics matter;
• 24% of completed challenges pass to the next phase or live — within the industry-typical band, and stable across both Year 1 and Year 2 cohorts;
• Email-confirmation rate doubled between Year 1 and Year 2 — from roughly 40% to roughly 82% — as the firm tightened its registration funnel and added anti-fraud signals on the public site;
• Average eighty days from passing a challenge to receiving the first payout — including the funded-trader rule periods, KYC sign-off, and the firm’s own payout-cadence rules.

Geographic reach — built for global-English from the start

The firm was always going to be globally-trading, and the data confirms the shape. Within the first three months the platform had registered traders from more than 120 countries; within the first year, more than 200. By the close of the operational window the cumulative reach sat at 218 distinct countries.

The acquisition mix is concentrated where the marketing spend went — UK, US, India, the Mediterranean, France, Germany — but the long tail of small-volume countries is what makes the operation genuinely global, and the platform handled it without any per-country code branching: country-of-residence rules are configured, KYC document expectations are configured, regional access rules are configured, and the firm’s marketing team can turn a country on or off without filing a ticket.

What this proves

Three things, in our view.

One — the standard Prop Firm CRM scales beneath the operator without rewrites. Two regions, two trading platforms, three platform-server migrations, two distinct affiliate-program generations, an order-of-magnitude jump in payout throughput between Year 1 and Year 2, a single promotional month at four-times-typical volume, and three logged bugs across the entire engagement. The platform stayed out of the way.

Two — the configuration surface is where the firm’s product team should live. Eight hundred and seventy challenge configurations is not a quirk — it’s how you stay competitive in a prop-firm market that’s expecting a new offer every few weeks. The fact that none of those configurations needed engineering involvement is the actual unlock.

Three — payout volume is the credibility number, and the platform processed it. The platform processed every one of those payouts through the same task workflow it uses for a small affiliate-commission event. The single largest payout in the engagement — running roughly two hundred times the average payout in its window — went through the same queue.

Key metrics at a glance

Metric	Value
Time from contract sign-on to first live trader	≈ 32 days
Operational window	24 months
Trading platforms run concurrently	Matchtrader + MT5
Distinct trading-platform server deployments	4 across the engagement (incl. migrations)
Regions launched on a shared CRM	2
Languages supported	1 (English — global-English audience)
Distinct countries reached	218
Trader-population scale	tens of thousands
Challenge configurations live by end of window	870+
Year-over-year challenge-config velocity	≈ 8× Year 2 vs Year 1
Active promo codes deployed (Year 1)	76
Promo-applied checkouts (Year 1)	≈ 8,500
Same-day buyer share	≈ 89%
First-week buyer share	≈ 94%
Average challenges per buyer	3.6
Completed-challenge pass rate	≈ 24%
Email-confirmation rate (Year 1 → Year 2)	≈ 40% → ≈ 82%
Average days from challenge-pass to first payout	≈ 80 days
Year-over-year payout count growth	6.1×
Year-over-year payout dollar growth	3.7×
Peak quarterly payout volume vs launch-quarter baseline	8.9×
Custom-dev velocity over the full engagement	53 support tickets total
Net-new features delivered	5 (all now standard Kenmore platform)
Bugs logged across the engagement	3
Concurrent affiliate accounts	hundreds
Active PSP through Ninjacharge aggregator	Paytiko + manual rail
In-house client admin team size	4
Admin roles configured by end of window	5 (incl. dedicated risk team)

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