How to Use Partner Codes for Online Trading
If you have ever opened an account with a CFD broker, you have probably noticed a box requesting a partner code. Many people ignore it completely. That is a bad move, because using the correct code unlocks a welcome bonus of real money in bonus trading capital.
A broker partner code is really just a referral code that you type in during registration. After you make your initial deposit, the broker adds extra money into your trading account. The trading conditions stay the same. You just start with more capital to work with.
Where to Source Working Partner Codes for Brokers
Not all codes you find online actually work. Most broker partner codes floating around online are no longer active. A blogger posts a code when it is first released and then never checks it again. Six months later the code has ended but the article is still ranking in Google.
That is the reason dedicated directories matter. Directories that actively check their codes prior to listing them spare you real frustration. Find a directory that verifies codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through a Partner Code
The standard type is the deposit match. You deposit a certain amount and the broker matches a portion on top. Certain brokers match up to 100 percent, which basically doubles your opening funds.
Some brokers offer sign-up bonuses — a token amount, often somewhere between ten and fifty dollars, just for opening an account. No deposit necessary.
In real terms, several established brokers right now have welcome bonuses worth several thousand dollars. That is real capital you can use from day one.
What to Watch Out For Before Applying a Broker Partner Code
The standard condition is a turnover requirement. You have to complete a specified number of lots before the bonus funds become withdrawable. This is common in the forex world and should not worry you.
Also look at if the bonus has an time limit, and what happens if you withdraw your initial deposit before reaching the trading target. Most brokers will forfeit the bonus if you do this.
Steps to Apply a Broker Partner Code
This process is pretty simple. Source a verified partner code from a trusted site. Visit your selected broker's registration page. Complete see more your details as normal. Type the partner code in the promotional code field. Submit your sign-up and make your initial deposit. The bonus will be applied on its own.
The entire thing should take about five to ten minutes. No disadvantage to entering a verified partner code with a licensed broker. Your fees stay the same. You just start with free funds in your account. There is no reason to leave extra funds on the table if all it requires is entering a code during sign-up.