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 Trades XM for His Own Prop Business FundedBull

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 FundedBull.

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.”

As a result, he expects significant consolidation in the industry in the coming years, through which only honest companies that know how to operate in a high-margin business will remain in the market.

With FundedBull, enjoy fast payouts with no fees! We process funded trader payouts through Rise and Crypto for your convenience, at no cost to you. 💸🚀 pic.twitter.com/c1gosWzWcn

— FundedBull (@FundedBull) August 7, 2024

When asked if prop trading will replace CFDs in the future and if it's the future of retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term, Paskalev answers negatively. However, it opens a new door for investors who have become disillusioned with high leverage at FX brokers, quickly losing their funds. Prop trading, on the other hand, caters to traders who lack sufficient capital.

“While generating 5–10% monthly returns on a $5,000 account may not be enough to cover living expenses in many places, a trader with access to a funded account of $100,000 or more can achieve a decent lifestyle,” Paskalev claims.

Will we be talking about Paskalev's company in a few months in the context of potential controversies like the ones surrounding The Funded Trader, or rather as an established business similar to FTMO? Only time will tell.