Case Study

Established
Prop Firm

From bleeding $40K/month on broken ads to $4.6M in revenue at 4.8x ROAS. They weren't new — they were stuck. We fixed everything.

Forex Prop FirmAccount RestructureCreative OverhaulMeta AdsAttribution Fix
$0M
Total Revenue
$0K
Ad Spend
0x
ROAS
0
Total Sales
$0
Cost Per Sale
0+
Leads Generated
The Challenge

They Were Spending.
Just Not Converting.

This firm wasn't a startup. They had a product, a brand, and an existing customer base. They were spending $40K/month on Meta ads and thought they were doing fine.

They weren't.

Their reported 3x ROAS from Meta was a lie — inflated by platform attribution that counted view-through conversions and double-attributed organic sales. When we installed proper tracking, the real number was 1.2x ROAS. They were barely breaking even.

Their ad account was a graveyard of 47 campaigns — most running simultaneously, cannibalizing each other's audiences, with no clear structure or testing methodology.

The creatives were stock photos of laptops and trading charts. Generic headlines. No emotional hooks. No persona targeting. Every ad looked like every other prop firm ad.

They didn't need more budget. They needed someone to tear it all down and rebuild it from scratch.

Before vs After FiFuel — from 1.2x to 4.8x ROAS

Click to expand — The transformation in numbers

The Strategy

Three Pillars.
One Complete Restructure.

We didn't optimize their existing campaigns. We killed 73% of them on day one.

The problem wasn't budget — it was architecture. Their account had no structure, no testing framework, and no real attribution. We rebuilt everything around three pillars.

The 3-Pillar Restructure — Audit, Creative Overhaul, Attribution Fix

Click to expand

"Most agencies would have 'optimized' the existing mess. We burned it down and built something that actually works." — The first month was painful. Revenue dipped as we killed underperforming campaigns. By month two, the new structure was already outperforming the old one at half the spend.

The Creative Overhaul

Their Ads Looked Like
Everyone Else's.

Every ad in their account was a variation of the same thing: a stock photo of a laptop with a trading chart, a headline about "getting funded," and a feature list.

We replaced all of it. Built persona-specific creative angles targeting three distinct trader types — the Dream Chaser, the System Builder, and the Revenge Trader. Each persona got its own ad set, copy style, and visual treatment. Then we tested 47 variations in 30 days to find the winners.

Creative Audit — What we found and how we fixed it

Click to expand

The Attribution Fix

Meta Said 3x.
Reality Was 1.2x.

This firm was making decisions based on Meta's self-reported data. That's like asking the fox to count the chickens.

We installed Hyros for server-side attribution, mapped every touchpoint in the customer journey, and built a reporting dashboard that showed the real numbers — not the ones Meta wanted them to see.

The truth hurt at first. But it also meant every optimization decision from that point forward was based on reality, not fantasy.

Attribution — Broken vs Fixed tracking model

Click to expand

The Growth

Month Over Month.
Compounding.

Once the foundation was right — proper attribution, structured campaigns, persona-driven creatives — the growth was inevitable.

We tripled their ad spend from $40K to $120K/month, but ROAS didn't drop. It quadrupled. Because we weren't just spending more — we were spending smarter, with every dollar tracked and every creative tested.

8-Month Revenue Trajectory — from $48K to $920K monthly

Click to expand — 8-month revenue trajectory

The Results

The Final
Scorecard.

Eight months. Same product. Same market. Completely different outcome.

Final Scorecard — $4.6M revenue, 4.8x ROAS, 68% CPA reduction
$4,600,000
Total Revenue Generated
Tracked via Hyros attribution
$960,000
Total Ad Spend
Across 8 months
4.8x
Overall ROAS
Up from 1.2x
34,285
Total Sales
Completed purchases
$28
Cost Per Sale
Down from $89
89,000+
Leads Generated
Opt-ins and sign-ups
68%
CPA Reduction
$89 → $28
4x
ROAS Improvement
1.2x → 4.8x
47
Creatives Tested
In first 30 days
73%
Campaigns Killed
Day one restructure
$134
Avg. Order Value
Revenue per transaction
8 Months
Time to Transform
From broken to dominant
The Timeline

8 Months.
Broken to Dominant.

Month 1

The Audit

Installed Hyros. Discovered real ROAS was 1.2x, not 3x. Killed 73% of campaigns. Mapped the entire customer journey. Revenue dipped — intentionally. We were clearing the wreckage.

Month 2

The Rebuild

Launched new account architecture with persona-segmented campaigns. Built 47 creative variations targeting Dream Chasers, System Builders, and Revenge Traders. First signs of life — CPA dropped 40% in two weeks.

Month 3

First Wins

New creatives started outperforming old ones by 3x. Revenue crossed $320K — already above the old monthly average. Attribution showed exactly which angles and audiences were driving real purchases.

Month 4-5

Scale Phase

Increased spend from $40K to $80K/month. ROAS held steady at 4.2x. Launched retargeting funnels and email integration. Monthly revenue hit $580K. The system was working.

Month 6-7

Acceleration

Pushed spend to $120K/month. ROAS climbed to 4.8x as winning creatives compounded. The firm moved from page 3 to page 1 on TrustPilot category rankings. Revenue hit $780K/month.

Month 8

Dominance

Monthly revenue peaked at $920K. Total cumulative revenue crossed $4.6M. CPA stabilized at $28 — a 68% reduction from where they started. The account that was bleeding money was now a profit machine.

Two Stories, One System

Different Starting Points.
Same Result: Dominance.

Top One Futures came to us with nothing — no brand, no website, no data. We built them to $9.6M in 11 months. This established firm came to us broken — spending $40K/month with nothing to show for it. We rebuilt them to $4.6M in 8 months. Different problems. Same system. Same outcome.

Read the Top One Futures Case Study

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Not Making It?

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