If you've ever signed up for a CFD broker, you have probably seen a field requesting a partner code. Many people ignore it completely. That is a bad move, because entering the right code can get you a sign-up bonus worth hundreds or even thousands in bonus money.
A broker partner code is basically a referral code that you input during registration. Once you make your first deposit, the broker credits additional capital into your trading account. The fees do not change. You just start with additional capital to start with.
Where to Get Working Partner Codes for Brokers
Not every codes you see online are valid. Many broker partner codes shared online are expired. Someone publishes a code when it is first released and then moves on. Weeks later the offer find out has been discontinued but the post is still live.
This is why curated directories are worth using. Sites that actually test their codes before publishing them spare you a lot of hassle. Look for a source that verifies codes on a regular basis, not just when they first go up.
Different Bonuses On Offer Through a Partner Code
The standard type is the matching bonus. You put in a set amount and the broker adds a portion on top. A few brokers match up to 100 percent, which basically doubles your opening money.
There are also sign-up bonuses — a small amount, typically somewhere between ten and fifty dollars, just for creating an account. No deposit needed.
To put this in perspective, certain established brokers currently offer sign-up bonuses worth thousands of in bonus funds. That is actual capital you can trade with from day one.
Things to Be Aware Of Before Using a Broker Partner Code
The main requirement is a lot requirement. You need to complete a minimum volume before the bonus become withdrawable. This is standard in the forex world and should not put you off.
Additionally verify whether the bonus has an expiry date, and what happens if you withdraw your initial deposit before reaching the trading threshold. Most brokers will forfeit the bonus if you do this.
How to Activate a Broker Partner Code
This process is quite easy. Get a working partner code from a trusted site. Visit your chosen broker's registration page. Complete your information as normal. Enter the partner code in the partner code field. Submit your registration and place your initial deposit. The bonus should be applied automatically.
The entire process should take roughly 5 to 10 minutes. No downside to using a working partner code with a regulated broker. Your trading conditions stay the same. You just get bonus funds in your account. There is no reason to miss free funds unclaimed if all it requires is entering a code during sign-up.