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Abstract:Desimir Paskalev, a well-known figure in the trading industry and a long-time Partner Relations Manager at retail broker XM, has embarked on a new venture under the name FundedBull. After more than a decade with XM, primarily in Europe, Paskalev has shifted his focus to prop trading.
Desimir Paskalev, a well-known figure in the trading industry and a long-time Partner Relations Manager at retail broker XM, has embarked on a new venture under the name FundedBull. After more than a decade with XM, primarily in Europe, Paskalev has shifted his focus to prop trading, a move he believes offers lower barriers to entry compared to the FX/CFD brokerage business.
Paskalev shared his decision to transition from a brokerage role to starting his own business. He noted that the challenges and costs associated with launching a new FX/CFD brokerage were significant, including the need for a large budget, a substantial team, and considerable resources. This led him to explore the prop trading sector, which he found more accessible and faster to market.
Paskalev emphasized that his extensive experience and network in the retail trading industry have been instrumental in setting up FundedBull. The new venture allows for quicker establishment and scaling due to lower initial investment requirements compared to a traditional brokerage.
The decision to focus on prop trading aligns with a broader trend of industry veterans venturing into new business models. Recently, Bartosz Bielec, a former Board Member at Admirals and Alpari, and Daniel Takieddine, the former MENA CEO of BDSwiss, have also launched their own trading ventures. This indicates a growing interest in diversifying business models within the trading industry.
Despite the increasing number of prop firms entering the market, Paskalev aims to distinguish FundedBull with a strong affiliate program. Drawing from his decade-long experience in affiliate management, he believes this will be a key competitive advantage. FundedBull plans to offer a range of trading platforms, including DxTrade, cTrader, Match-Trader, and potentially TradeLocker, to attract clients through its affiliates and an internal marketing team.
Addressing the current reputation of the retail prop trading industry, which has faced controversies and operational issues, Paskalev acknowledged that it is still evolving. He pointed out that, like the FX/CFD industry in its early days, prop trading is grappling with challenges related to regulation, technology, and management. Paskalev anticipates consolidation in the sector, with only the most reliable firms surviving.
While he does not foresee prop trading replacing CFDs entirely, Paskalev sees it as a valuable alternative for traders with limited capital. Access to funded accounts can provide a more feasible path to achieving a decent lifestyle compared to the high leverage often found in FX trading.
As FundedBull makes its mark in the industry, it remains to be seen whether it will face the same controversies that have affected other firms or establish itself as a reputable player like FTMO. Only time will reveal the company's future trajectory.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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