Is Kenmore Design’s Trader’s Room the Right Space For Your Business?

Kenmore Design is a fintech business specializing in B2B Forex web solutions. With more than ten years of experience in the industry, the company has developed quite a few products to meet the specific needs of FX and CFD brokers. In this review, we will focus on Kenmore’s proprietary Trader’s room- the Blue Lagoon.

Swift Account Opening, Deposit and Withdrawal

Blue Lagoon is a trader side back-end, which makes the clients’ interaction with their online trading company fast and easy. The Trader’s room supports all trading platforms. That means that Kenmore Design can meet your demand no matter if your brokerage uses MT4, MT5, X Open Hub, cTrader or any other software. 

The account opening section has a simplified menu. You can choose from your broker’s account types here and request your desired leverage. Except for live or demo trading accounts, a client can sign up to become an introducing broker (IB) from a dedicated subsection.

All supported deposit and withdrawal methods will appear in thе corresponding tab. The system allows each company to choose whether withdrawals are instantly blocked from traders’ accounts and processed automatically, or manually. 

Funds can be transferred between a client’s accounts within the broker. This is done automatically at the prevailing market exchange rate in a case where the accounts have different base currencies. The system lacks a wallet where funds can be stored before a trader decides to put them into use. The absence of this functionality is a serious shortfall as it causes a real inconvenience for traders.

Blue Lagoon Trading Section

Closed trades report is the only item you will see in this section. This feature includes the following details: order number; open/close time; open/close price; direction (buy/sell); symbol; stop loss/take profit (if present); commission; swap; profit. In our view, this information is insufficient, as there are other important trade-related matters a client needs to know. Some of them include dividends; open orders (including pending ones); a daily account on debited/credited swaps (interest), etc.

A Tool to Grow Your IB Business

The first menu contains a form which potential introducing brokers need to fill out. Once approved, they have at their disposal a set of marketing materials allowing them to promote the services of the trading company.

The system supports multi-level IBs, which is positive for brokers who want to significantly grow this segment of their business. Introducing Brokers have good visibility to their referral activity. All accounts are listed by client’s name, account currency and earned commission. Filtering allows traders to be filtered by date range.

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A Rich Investments and Fund Management Section

Good news for brokers offering MAM and/or PAMM to their clients, Kenmore Design has developed and supports a rich section covering these services. Money managers are listed here with detailed statistics of their strategies. This gives individuals the chance to make the right choice based on their risk appetite. The Blue Lagoon also has a dedicated subsection for those who have a winning strategy and want to offer it to potential investors.

Security

With more than a decade of experience in the financial industry, Kenmore Design knows that security is absolutely critical for Forex and CFD companies. For this reason, it has taken the necessary measures to ensure that its sensitive data is safe and sound. Password protection is ensured by a two-factor authentication upon login. The software is light and runs without interruption from what we have seen so far. System security is overall at a reasonable level.

Customer Service

Kenmore Design offers multi-language customer service support in several languages. The company uses a wide range of communication channels, including: phone, email, WhatsApp, Telegram, Viber, etc. There is a dedicated technical team which is ready to assist with more urgent issues on a 24/7 basis. Our interactions with customer care employees have always been fast and easy. In fact, they have always been there to ensure that system operations continue to run normally.

Final Thoughts

Kenmore Design has developed a light, easy-to-use and smoothly operating Trader’s room. The Blue Lagoon can be quickly integrated with any trading platform, which is one of its main advantages from an online broker’s perspective. The system features a decent multi-level IB functionality. The rather rich and flexible MAM/PAMM section allows for a good interaction of fund managers and investors within a unified infrastructure. The main area which Kenmore Design needs to dedicate more developing efforts into is reporting. The present reports are rather limited and insufficient to meet traders’ needs in this respect.

FTT Score

Based on the review above, on the scale from 1 to 10, our FinTechTycoon expert score is a lucid

 6.

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