If you have ever registered with a CFD broker, you have probably come across a box requesting a partner code. A lot of people ignore it completely. That is a bad move, because entering the correct code gives you a sign-up bonus of hundreds or even thousands in free trading capital.
A broker partner code is really just a referral code that you input during sign-up. After you place your first deposit, the broker adds extra money into your trading account. The fees remain unchanged. You just receive extra money to trade with.
Where to Get Working Partner Codes for Brokers
Not every codes you see through Google are still active. Most broker partner codes posted online are outdated. Some website owner publishes a code when it is new and then forgets about it. Six months later the code has expired but the page is still up.
That is the reason curated code sites are worth using. Directories that regularly check their codes prior to listing them spare you considerable wasted time. Look for a site that checks codes on a regular basis, not just when they first go up.
Types of Bonuses On Offer Using a Partner Code
The standard type is the matching bonus. You put in a set amount and the broker credits a percentage on top. A few brokers offer up to 100 %, which practically doubles your initial money.
Some brokers offer free bonuses — a modest amount, typically somewhere between 10 to 50 dollars, just for creating an account. No deposit needed.
To put this in perspective, certain major brokers right now offer welcome bonuses take a look worth thousands of in extra trading capital. That is actual money you can put to work from day one.
Things to Be Aware Of Before Entering a Broker Partner Code
The standard term is a lot requirement. You need to complete a specified amount of trades before the bonus are made withdrawable. This is entirely typical in the forex world and does not need to scare you.
Additionally look at whether the bonus has an time limit, and what happens if you cash out your original deposit prior to hitting the trading requirement. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is pretty simple. Source a verified partner code from a trusted directory. Visit your preferred broker's registration page. Complete your details as normal. Paste the partner code in the promotional code box. Finish your sign-up and make your first deposit. The bonus will be added on its own.
The whole process takes about 5 to 10 minutes. No downside to using a valid partner code with a regulated broker. Your spreads stay the same. You just start with free money in your account. Do not miss extra money unclaimed if all it takes is entering a code during registration.