Ex-XM Executive to Launch His Own Prop Firm FundedBull

Desimir
Paskalev, a trading industry veteran associated with retail broker XM for over
a decade, has decided to run his own project under the FundedBull
banner. In an exclusive interview with Finance Magnates, Paskalev
admitted that he chose to move towards prop trading because the entry barriers
are lower than those of running an FX/CFD brokerage business.

Paskalev has undoubtedly been one of XM’s most recognizable faces over the past ten years, serving as Partner Relations Manager, primarily in Europe. After a decade with one company, he decided to launch his own business. For the past few months, the ex-XM
representative has been trying his hand in the prop trading industry.

“My
ambitions have grown, and I believe they can be best fulfilled through business
ownership and its development,” Paskalev commented in an interview with Finance
Magnates. He added that over the years, he has built knowledge and
connections in the retail trading industry that allowed him to start his own
venture.

But why not
an FX/CFD broker? As Paskalev honestly admits, he considered launching a new
brokerage brand, but given the higher entry threshold and enormous competition,
he decided to direct his interest toward a younger, rapidly developing
industry.

“I
considered starting an FX/CFD brokerage, but the complexities involved in such
a venture, like higher budgets, a larger team, extensive resources, and longer
time to market, were substantial,” Paskalev comments, not ruling out
launching a broker in the future.

With a prop
firm, it’s the opposite. Smaller business launch amounts mean that within a few
months, a ready product can be put in the hands of users.

“This
strategic choice allowed us to establish a solid foundation and scale our
operations effectively, as well as potentially expand into retail FX and CFD
trading at a later stage,” added the Founder of Funded Bull.

Paskalev is not the only former executive of a popular broker who has recently decided to strike out on his own. In May, Finance Magnates exclusively reported that a former Admirals and Alpari Board Member, Bartosz Bielec, launched his own FX/CD Broker. A month ago, the former MENA CEO of BDSwiss, Daniel Takieddine, also took a similar step, introducing the Sky Links Capital Group brand.

Differentiation through
Affiliation

However,
it’s impossible not to notice that prop firms are also sprouting up like
mushrooms recently, and competition is significantly increasing. Regulated
FX/CFD brokers have also started joining the industry, which can certainly make
it difficult for smaller firms to operate.

So how does
FundedBull want to stand out in this market? According to Paskalev, the answer
is a “leading affiliate program,” drawing on experiences from
previous markets he worked in.

“With
over a decade of experience in affiliate management, I see this as a strategic
advantage and a key opportunity,” he explains.

In one of the latest op-eds for Finance Magnates, Christopher Balanzategui, the CEO of N3tworx, described the marketing and affiliate advantages that prop firms have over CFD brokers.

The next
step is to encourage clients by presenting them with clear rules for conducting
challenges and access to the widest possible number of trading platforms. The
offer includes DxTrade, cTrader, Match-Trader, and in the future, TradeLocker.

“We
anticipate significant interest through our affiliates, but we will also have
an internal marketing team to drive additional engagement and growth,”
adds Paskalev.

The Industry Is Not without
Controversy

Asked about
his thoughts on the current reputation of the retail prop trading industry,
which is full of controversies, potential rug pulls, and problems with client
fund withdrawals, Paskalev admits that, like FX/CFD once was, prop trading is
still in its infancy stage and developing.

“It
remains relatively immature in several areas, including regulation
Regulation

Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (

Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Read this Term, technology,
and management,” Paskalev explains. “This immaturity often leads to
operational issues, with some firms failing to manage client funds properly or
going out of business due to mismanagement.”