Bullo, a proprietary trading startup established in February 2024, has announced that it will cease its prop firm services and transition into a brokerage. This decision is driven by the need to comply with stringent regulatory standards and ensure better protection for traders.
Reasons for Service Closure
The industry’s current regulatory uncertainty is the primary reason for halting prop firm services. The lack of a well-defined regulatory framework has made it challenging for firms like Bullo to ensure trader safety and compliance. Bullo paused its prop-based offerings after extensive consultations with regulatory bodies and third-party experts.
Focus on Tier 1 Jurisdictions
Bullo seeks licenses in Tier 1 jurisdictions, including the United States, the United Kingdom, and the European Union. These regions are known for their rigorous regulatory standards, which Bullo views as essential for maintaining high levels of trader protection and compliance.
Potential Return to Prop Services
While Bullo has paused its prop firm services, it remains open to resuming them in the future. The company stated that if the regulatory environment becomes clearer and more protective measures are implemented, it will consider reintroducing these services.
Customer Communication
Bullo has assured its customers that they will receive detailed information regarding the transition. The company is committed to ensuring that no customer is financially disadvantaged by this decision and has dedicated support teams to address any concerns.
Strategic Goals
With its successful Series A fundraising round, Bullo aims to become a leading brokerage in Europe, the UK, the Middle East, and eventually the United States. This transition is part of Bullo’s long-term strategy to align with high regulatory standards and provide a safe trading environment for its clients.
