Prop Startup Bullo Withdraws from Offering Prop Trading Services

Prop trading startup Bullo has announced it will cease offering proprietary trading services. The decision, made public on July 30, follows the company's successful completion of its Series A fundraising round and reflects a strategic move toward regulatory compliance in key markets.

Since its inception in February, Bullo has experienced notable growth. However, in light of ongoing regulatory uncertainties, the company has decided to pause its proprietary trading services. This move comes as Bullo prioritizes obtaining regulatory licenses in Tier 1 jurisdictions, a crucial step for ensuring the protection of traders and aligning with the firm's long-term strategic goals.

Bullo's board, after extensive consultations with third-party experts and regulators, believes that focusing on regulatory licensing is essential before resuming its prop trading activities. Although the company may consider reintroducing these services once regulatory conditions become clearer, the current regulatory environment has led Bullo to halt its prop-based offerings temporarily.

Bullo plans to position itself as the "Robinhood of Europe, the UK, and the Middle East," with aspirations to expand into the US market in the future. Current customers will be contacted directly with detailed information on the transition, and Bullo assures that no customer will face financial disadvantage as a result of this decision.

Similarly, prop firm The Trader Forge (TTF) also paused their operations in July​, but promised to return in August.