If you have ever opened an account with a CFD broker, you have probably seen a box requesting a partner code. Many new traders leave it blank. That is a mistake, because applying the right code unlocks a welcome bonus of a significant amount in extra funds.
A broker partner code is basically a referral code that you type in during account opening. Once you place your first deposit, the broker adds additional capital in your trading account. The trading conditions stay the same. You just have additional funds to trade with.
How to Get Verified Partner Codes for Brokers
Not every codes you see online are still active. A lot of broker partner codes shared online are no longer active. A blogger lists a code when it is first released and then never checks it again. Weeks later the offer has ended but the page is still up.
That is the reason specialised directories are valuable. Resources that regularly verify their codes before listing them spare you considerable hassle. Look for a site that verifies codes on an ongoing basis, not just once when they are first posted.
Different Bonuses On Offer With a Partner Code
The standard type is the percentage match. You fund with a set amount and the broker credits a portion on top. A few brokers offer up to 100 percent, which basically doubles your initial capital.
Some brokers offer sign-up bonuses — a small amount, usually somewhere between 10 to 50 dollars, just for creating an account. No deposit required.
Practically speaking, several well-known brokers currently offer sign-up bonuses of thousands of in bonus funds. That is real capital you can use from day one.
What to Be Aware Of Before Entering a Broker Partner Code
The main term is a turnover requirement. You need to execute a certain amount of trades before the bonus funds become yours to keep. This is common in the forex world and should not worry you.
Additionally verify if the bonus has an expiry date, and what happens if you withdraw your original deposit before reaching the trading target. Many brokers will forfeit the bonus if you do this.
How to Activate a Broker Partner Code
The procedure is fairly simple. Source a active partner code from a reputable site. Head to your chosen broker's sign-up page. Complete your information as usual. Type the partner code in the promo code field. Submit your sign-up and place your first deposit. The bonus should be applied on its find here own.
The whole process should take maybe five to ten minutes. No disadvantage to applying a working partner code with a licensed broker. The trading conditions do not change. You just start with additional capital in your account. There is no reason to miss extra money going to waste when all it requires is entering a code at sign-up.