After a decade of success with a leading CFD broker, Desimir Paskalev has embarked on a new journey in the prop trading industry with his venture, FundedBull.
Having spent over 10 years at a prominent CFD company, Desimir Paskalev, a well-known figure in the trading world, has taken the leap to start his own prop trading firm. Speaking candidly about his decision, Paskalev highlighted that entering the prop trading sector is more accessible and cost-effective compared to launching a traditional brokerage.
Paskalev’s New Venture: From XM to FundedBull
As a former Partner Relations Manager at XM, where he built his reputation across Europe, Paskalev has now turned his focus to the prop trading market. Over the past few months, he has been actively involved in developing FundedBull, a firm that aims to make its mark in this rapidly growing industry.
“My aspirations have grown, and I see the potential for greater fulfillment through building and developing my own business,” Paskalev shared in an interview. He further explained that his extensive experience and network in the retail trading sector have been instrumental in launching FundedBull.
Choosing Prop Trading Over Traditional Brokerage
Paskalev considered starting a new FX/CFD brokerage but ultimately decided against it due to the high costs, larger team requirements, and the intense competition in that space. Instead, he found the prop trading model more appealing, as it allows for a quicker and more manageable business launch.
“This strategic move enables us to build a strong foundation, efficiently scale our operations, and potentially expand into retail FX and CFD trading in the future,” Paskalev explained.
FundedBull’s Strategy: Standing Out in a Competitive Market
The prop trading industry is becoming increasingly crowded, with many new firms entering the market. To differentiate FundedBull, Paskalev plans to leverage his extensive experience in affiliate marketing, which he sees as a key competitive advantage.
“With over a decade of experience in affiliate management, I view this as a crucial strategic asset,” Paskalev noted.
FundedBull’s strategy includes offering transparent challenge rules and access to multiple trading platforms, such as DxTrade, cTrader, Match-Trader, and eventually, TradeLocker. The company plans to drive growth through both affiliate marketing and an internal marketing team.
Addressing Industry Challenges
Paskalev also acknowledged the challenges facing the prop trading industry, which is still in its early stages and has encountered issues like poor fund management and operational failures. However, he remains optimistic about the future, anticipating industry consolidation that will leave only the most reliable firms standing.
When asked if prop trading could replace CFDs as the future of retail trading, Paskalev was skeptical but emphasized that prop trading offers a valuable alternative for traders who lack sufficient capital, providing them with opportunities to achieve sustainable returns.
As FundedBull enters the market, only time will reveal whether it becomes a standout success or faces challenges similar to those that have plagued other firms in the industry.
