Understanding Partner Codes for Online Trading
If you have ever signed up for a CFD broker, you might have noticed a box requesting a partner code. Most traders ignore it completely. That is a mistake, because applying the correct code gives you a deposit bonus of real money in extra cash.
A broker partner code is basically a promo code that you input during account opening. After you place your initial deposit, the broker adds extra money into your trading account. Your commissions remain unchanged. You just start with extra funds to start with.
Where to Find Verified Partner Codes for Brokers
Not all codes you come across through Google actually work. Many broker partner codes floating around online are outdated. Someone posts a code when it is first released and then moves on. Six months later the code has ended but the post is still live.
This is why curated directories are worth using. Directories that actively verify their codes prior to listing them save you considerable hassle. Use a source that checks codes on a regular basis, not just when they first go up.
Types of Bonuses You Can Get Through a Partner Code
By far the most popular type is the matching bonus. You fund with a minimum amount and the broker matches a portion on top. Some brokers match up to 100 percent, which practically doubles your initial money.
Some brokers offer sign-up bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for creating an account. No deposit required.
In real terms, some major brokers right now offer sign-up bonuses up to thousands of in extra trading capital. That is real capital you can put to work from day one.
What to Be Aware Of Before Entering a main page Broker Partner Code
The most common requirement is a turnover requirement. You need to trade a certain amount of trades before the bonus funds become withdrawable. This is normal in the forex world and does not need to put you off.
Also check if the bonus has an time limit, and what happens if you withdraw your initial deposit before meeting the volume threshold. Most brokers will void the bonus if you do this.
Steps to Use a Broker Partner Code
The procedure is quite easy. Find a verified partner code from a reliable site. Go to your preferred broker's sign-up page. Fill in your information as usual. Paste the partner code in the partner code field. Complete your registration and complete your opening deposit. The bonus will be added on its own.
The whole thing should take roughly a few minutes. No negative to entering a verified partner code with a reputable broker. Your trading conditions remain identical. You just get free funds in your account. Do not skip free funds on the table if all it requires is typing a code during sign-up.