The Multi-Level Introducing Broker Management Portal
One of the Ardas team's most ambitious projects is a custom trading solution adapted to the specific client’s needs. The complete system for an FX broker that handles all financial relations between a broker and its IBs organized in a multilevel hierarchy. The client has successfully used it for over ten years, it is presented in 12 countries, supporting over 15 languages, using more than 200 trade instruments of different kinds. It is a heavily loaded big data system that gives the client complete control and management over broker IBs and traders.
Technical stack includes:
The task and client’s requirements
A well-established FX broker came to us asking to create a system to handle all its IBs, give them an infrastructure to manage their traders and business, automate all calculations of commissions earned by them. A broker was supposed to be able to manage IBs, configure all their settings and features, monitor the business on a higher level, and on a level of every separate IB.
Starting from a business analyst, a database architect, and a few developers, we ended with a fully equipped professional team of 12 who took the complete software development activities from feature analysis to deployment. We provided a senior project manager that integrated our team gracefully with the core business team, letting our customers concentrate on scaling their trading business.
What we did
We were given the old system with many separate solutions with no integration and a lot of managing people supporting it. We transformed this system step by step, finding a balance between keeping it working, bugfix, and implementing new features, automation that we required to scale the business.
Long term relations
After successfully transforming this solution into an automated system, we entered long-term support and evolution cycle and still update and tune this system according to customer requirements. The team that worked on these projects became a dedicated permanent team of our customers and today is an integral part of the whole business.
Introducing Broker Portal
The client required the specific functionality that includes features that allow IBs to make fees on bringing traders to the broker company. An IB can control its customers and manages their requests. Rebate calculations are performed by the platform and reports show deposits, net deposits, withdrawals, revenues, IB revenue share.
IBs can review their balance, monitor customers' activity, request withdrawals, and add other IBs into their multi-level hierarchy.
IB Portal Administration Area
A manager can set connections like broker-broker and broker-client. It allows affixing the appropriate distribution of income coefficients in the complex hierarchy of connections.
The developed system provides the ability to create a multi-level pyramid and further track and apply different income coefficients depending on the instruments customers play on (currency pairs, metals, oils, CFDs, etc.)
Centralized data storage in SF is convenient for analysis and financial / accounting tasks. We use SF as one of the best systems for such tasks.
SalesForce is used to handle the authentication of customers through its central database of users, download and export them, see balance sheets, and monitor financial results.
53 Payment Methods
The platform was developed as a worldwide system and focused on China's market today. We support 53 payment systems, including China UnionPay, Skrill, Neteller, AstroPay, Mercury, EasyEFT, EcoPayz, Finrax, MiFinity, OctaPay, PayCent, PayGuru, Payment Asia, TradersCoin, Volt, Zota, Xentum, UniversePay, etc.
Every gateway is supported for both deposits and withdrawals. All payment processes are integrated with SalesForce.
Integration With Meta Trader 4
Selling MT4 accounts is one of the main products of the broker. The integration with MT4 allows the business to open an MT4 account after registration automatically, withdraw the balance and handle transactions in MT4.
The website is fully integrated with MT4 to automate all management actions needed after registration, payment, withdrawal, or any other event.
The team has designed special management features for the client. Money movement transaction history, processing of withdrawal requests - to confirm or reject, payment service provider settings, setting the IBs hierarchy percent payout ratio, the connection between IBs, VIP customer priorities, and interactive reports.
The broker company super administrator can fully manage all IBs in a company, block/activate accounts, configure fees, monitor the overall profit and all aspects of each IB individually.
"I have been working as a CTO for 6 years and for all this time Ardas has always been very responsible and attentive to all the nuances and peculiarities of our business. We do not feel any barriers, neither linguistic nor distance.
They are very attentive to communication, their CEO periodically comes to the UK. We meet to discuss strategic cooperation, plans for the future. It is very important to us as a large company, and we are glad that such attention is part of their service.
We have been working with Ardas for more than five years, we started with a part-time team that developed our [IB portal] and still maintains it, plus does all the work on our website, which is the only source of all customers. The website supports 6 languages, does all the integrations with all systems that we use (SalesForce, MetaTrader, payment systems including Chinese).
Ardas always makes sure that we use the best technical solution possible. Once, they very timely offered to switch to microservice architecture. To pitch this idea, they prepared a presentation, justified everything correctly, made a plan and an assessment.
Now our system is scalable. Traffic and our turnovers have already grown significantly and we have never had any performance problems because we were prepared in time.
Our system is written in PHP / Symfony and Java. Ardas has formed a dedicated team tailored for all our technologies - we do not experience any problems with a lack of skills or knowledge."
Do you have a similar product that requires development?
Whatever stage your solution is at, contact us to discuss it. It is FREE and we engage fast. We will help you onboard the right engineers with solid experience in SaaS development and a deep understanding of SaaS business, better planning, priorities, and realistic estimations.