A Guide to Partner Codes for Online Brokers
If you have ever registered with a CFD broker, you may have seen a field requesting a partner code. Most traders ignore it completely. That is a bad move, because using the right code gives you a deposit bonus of real money in extra funds.
A broker partner code is really just a promo code that you input during registration. After you complete your initial deposit, the broker credits bonus funds into your live account. Your commissions do not change. You just have additional money to start with.
How to Find Working Partner Codes for Brokers
Very few of the codes you come across online actually work. A lot of broker partner codes floating around online are outdated. A blogger posts a code when it is first released and then forgets about it. Six months later the offer has ended but the page is still live.
This is why curated code sites are worth using. Sites that regularly test their codes before listing them spare you considerable wasted time. Look for a source that checks codes on an ongoing basis, not just when they first go up.
Types of Bonuses You Can Get With a Partner Code
The most common type is the matching bonus. You deposit a set amount and the broker matches a portion on top. Certain brokers match up to 100 %, which effectively doubles your starting capital.
Some brokers offer sign-up bonuses — a modest amount, usually around ten and fifty dollars, just for opening an account. No deposit necessary.
Practically speaking, several well-known brokers currently offer welcome bonuses of thousands of in bonus funds. That is real funds you can put to work from day one.
Things to Watch Out For Before Entering a Broker Partner Code
The main requirement is a lot requirement. You must trade a specified number of lots before the extra money become available for withdrawal. This is normal practice and does not need to put you off.
Also look at whether the bonus has an time limit, and what happens if you pull out your original deposit prior to meeting the trading target. Most brokers will void the bonus if you do this.
How to Apply a Broker information resource Partner Code
This process is pretty straightforward. Source a working partner code from a reliable source. Head to your chosen broker's sign-up page. Enter your details as normal. Enter the partner code in the promo code field. Finish your sign-up and place your opening deposit. The bonus should be credited on its own.
The whole process takes roughly 5 to 10 minutes. There is no disadvantage to entering a working partner code with a regulated broker. The fees stay the same. You just receive bonus money in your account. Do not skip bonus money going to waste if all it takes is entering a code during sign-up.