Understanding Partner Codes for CFD Trading
If you've ever registered with a forex broker, you may have noticed a field asking for a partner code. Most people leave it blank. That is a bad move, because entering the right code unlocks a sign-up bonus worth a significant amount in bonus information resource money.
A broker partner code is essentially a promotional code that you input during sign-up. After you place your initial deposit, the broker adds extra money into your live account. The fees do not change. You just receive extra capital to work with.
How to Get Working Partner Codes for Brokers
Not every codes you find through Google are still active. Many broker partner codes shared online are dead. A blogger publishes a code when it is new and then forgets about it. Six months later the offer has been discontinued but the post is still ranking in Google.
That is the reason curated code sites are worth using. Sites that actually check their codes prior to listing them save you real hassle. Use a site that tests codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses You Can Get Through a Partner Code
By far the most popular type is the matching bonus. You deposit a minimum amount and the broker matches a percentage on top. A few brokers match up to 100 %, which practically doubles your initial funds.
There are also sign-up bonuses — a token amount, typically somewhere between ten and fifty dollars, just for registering an account. No deposit needed.
Practically speaking, several well-known brokers currently run sign-up bonuses worth thousands of in extra trading capital. That is genuine money you can trade with from day one.
What to Watch Out For Before Entering a Broker Partner Code
The standard term is a trading volume requirement. You need to complete a certain volume before the extra money are made available for withdrawal. This is standard across the industry and should not scare you.
Additionally check if the bonus has an time limit, and what happens if you withdraw your initial deposit prior to hitting the trading threshold. Most brokers will void the bonus if you do this.
Steps to Apply a Broker Partner Code
The procedure is quite easy. Source a verified partner code from a trusted directory. Visit your preferred broker's registration page. Complete your information as usual. Type the partner code in the promotional code box. Submit your registration and make your first deposit. The bonus should be credited straight away.
The whole process should take about a few minutes. No disadvantage to using a verified partner code with a regulated broker. The trading conditions do not change. You just receive extra capital in your account. Do not leave bonus money unclaimed if all it takes is entering a code at registration.