Inspire Funding Review – All Offers The Same, But Whom To Trust?

One of the key details traders need to know is what this firm used to do in the past. Since 2019, Inspire Funding, or Phoenix Inspired LTD, used to offer trading signals. In March 2023, the company switched to prop trading for some reason.

Generally, the company appears legitimate. However, when you compare it to other prop trading firms, you can realize some disadvantages. In any case, if you are into prop trading, our Inspire Funding review will provide you with all the information you need.

Legal Info: Is Inspire Funding Legit?

The ownership of this trading firm belongs to Phoenix Inspired LTD with registration number 11960090. With addresses in the UK, the company represents a highly trustworthy environment. With this in mind, you would expect them to have hundreds of thousands of traders. Sadly, it appears that’s not the case.

Nevertheless, one of the key details traders look for with prop firms is trusted brokerages used for trading. In this case, the company uses a GH Market broker that is registered in Belize and operates without any licenses. Even though prop firms don’t need regulation, we would advise you to use prop firms that use top-tier licensed trading firms.

User Experiences

If you look at the Inspire Funding reviews you will find only 16 comments on Trustpilot. Compared to Funded Trading Plus which has more than 2000 reviews, that’s nothing. Not to mention the Inspire Funding firm has a bit over 2.500 traders in total. Even though they were registered almost at the same time as the mentioned competitor.

On the positive side, all reviews so far are four or five-star rated. Thus, we have to mention many of those come from clients in Nigeria.

Trading Software Offered

Compared to some other brokerages like Dizl FX Ltd, Inspire Funding offers far better trading software. With Meta Trader 4 and Meta Trader 5 availability, traders won’t have to worry about any platform manipulation. Thus, you have to keep in mind these platforms are banned for US traders. But only for unregulated brokerages and prop trading firms.

Mobile Trading Availability

Understandably, when MT4/MT5 platforms are on offer, traders can also use their respective mobile apps as well. For the company, it doesn’t matter where you trade as long as you stick to the rules.

However, when it comes to Inspire Funding apps, such apps don’t exist. So, tracking your progress is only possible through a web-based dashboard. Same as with Nexospro broker that’s not the best option traders can choose.

Evaluation Plans With Inspire Funding

Generally speaking, Inspire Funding funded account evaluation plans should be a bit more diversified. Yes, the company offers three programs. However, they pretty much offer the same with slight differences in percentages for maximum losses and profit targets. In any case, you can choose between:

• Inspire trader
• Swift trader
• Premium trader

All accounts have in common a few things:

• Funded amounts between $10k and $200k
• Unlimited trading periods
• 5 minimum trading days
• Leverage up to 1:100

Unfortunately, the company doesn’t allow EAs or any other third-party options for improved trading. On the positive side, copy trading is allowed.         

How Much Does The Evaluation Cost?

Generally speaking, the Swift Trader program and Premium Trader program have exact same costs. Starting from $98 for $10K funding up to $898 for $200K funding.

But also there are Inspire Funding free second phases in the Premium Trader account and Inspire Trader. If traders pass the evaluation phases, the fees should be refunded to them.

What Are Payout Options?

As with many other prop firms, Inspire Funding prop firm offers crypto payouts and Deel. For the ones who don’t know, Deel includes bank transfers, Deel card, Coinbase, Payoneer, Revolut, etc.

One of the positive things about this firm is that they have weekly payouts compared to some other prop firms that have bi-monthly payouts. Thus, with a processing time of up to 7 business days, that time is practically the same. In the end, it doesn’t look like a big benefit.

Customer Support

As can be seen, the company highly promotes its Telegram and Discord community. Thus, links on the website don’t appear to be good since they don’t lead anywhere. Besides those, the company offers an e-mail, web contact phone, and a phone number.

However, traders have to keep in mind their number 0345 0123 4331 with such a prefix is known as a non-geographic number. Practically the one that doesn’t reveal your location. Why is that so, remains a mystery.

Summary: Inspire Funding Vs Others

Even though the Inspire Funding trading firm offers some attractive features, they have very low popularity. Their total number of traders barely breaks the number of user reviews with Funded Trading Plus. That tells you whom traders trust more.

In addition to that, the company has been using offshore brokerages without a license. That’s surely something traders have to consider. All in all, with quite hefty fees, they can barely compare to some far more trusted prop firms. That’s why we recommend traders explore all the other options, in the first place Funded Trading Plus, which is also UK-based firm.

Once you see all the benefits, allowed features, platform, and low costs, you won’t be looking for other options. But of course, the choice is yours. In the end, it doesn’t cost you anything to sign up and explore all the features available with Funded Trading Plus. After all, you might participate in some promotions and giveaways. Feel free to join them today.

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