If you've ever registered with a CFD broker, you might have seen a field asking for a partner code. Most people skip right past it. That is a find more information bad move, because entering the correct code gives you a welcome bonus of a significant amount in bonus money.
A broker partner code is essentially a referral code that you enter during sign-up. Once you complete your first deposit, the broker gives you additional capital in your live account. The commissions are not affected. You just have additional money to start with.
How to Find Valid Partner Codes for Brokers
Not all codes you find through Google actually work. Most broker partner codes floating around online are expired. Some website owner lists a code when it is first released and then forgets about it. Months later the promotion has been discontinued but the page is still ranking in Google.
That is the reason curated directories are worth using. Resources that regularly test their codes before publishing them save you a lot of wasted time. Use a site that checks codes on an ongoing basis, not just once when they are first posted.
Different Bonuses Available With a Partner Code
By far the most popular type is the matching bonus. You put in a minimum amount and the broker credits a percentage on top. A few brokers match up to 100 %, which basically doubles your initial capital.
Some brokers offer free bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for opening an account. No deposit required.
Practically speaking, certain major brokers currently run welcome bonuses up to thousands of in extra trading capital. That is actual money you can use from day one.
What to Watch Out For Before Entering a Broker Partner Code
The standard requirement is a lot requirement. You have to trade a certain amount of trades before the bonus become withdrawable. This is standard in the forex world and does not need to worry you.
Also verify if the bonus has an time limit, and what happens if you pull out your initial deposit prior to hitting the trading target. Many brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
This procedure is quite easy. Find a verified partner code from a reliable directory. Head to your chosen broker's registration page. Enter your information as normal. Paste the partner code in the promotional code box. Submit your registration and place your initial deposit. The bonus will be applied straight away.
The entire thing should take roughly a few minutes. There is no disadvantage to using a valid partner code with a licensed broker. Your trading conditions stay the same. You just start with free funds in your account. There is no reason to leave free capital going to waste when all it takes is entering a code at registration.