If you have ever opened an account with a CFD broker, you may have noticed a box asking for a partner code. A lot of new traders leave it blank. That is a mistake, because using the right code can get you a sign-up bonus of a significant amount in additional cash.
A broker partner code is really just a referral code that you enter during account opening. Once you complete your initial deposit, the broker adds extra money into your trading account. Your trading conditions stay the same. You just get extra funds to start with.
How to Get Verified Partner Codes for Brokers
Very few of the codes you find through Google are valid. Many broker partner codes floating around online are outdated. Someone posts a code when it is first released and then forgets about it. Six months later the code has expired but the post is still live.
This is why dedicated directories are valuable. Resources that regularly verify their codes prior to listing them spare you real hassle. Use a directory that verifies codes on a regular basis, not just once when they are first posted.
Types of Bonuses On Offer Through a Partner Code
By far the most popular type is the percentage match. You put in a set amount and the broker matches a portion on top. Certain brokers match up to 100 %, which practically doubles your initial money.
There are also no-deposit bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for opening an account. No deposit required.
In real terms, certain major brokers right now offer sign-up bonuses of several thousand in extra trading capital. That is real capital you can use from day one.
Things to Know Before Applying a Broker Partner Code
The main term is a turnover requirement. You need to complete a article source specified number of lots before the extra money are made available for withdrawal. This is standard practice and should not worry you.
Additionally check whether the bonus has an expiry date, and what happens if you withdraw your original deposit before meeting the trading target. Many brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
The process is fairly simple. Source a active partner code from a reputable directory. Visit your preferred broker's sign-up page. Fill in your details as normal. Enter the partner code in the promotional code field. Complete your registration and complete your initial deposit. The bonus gets applied straight away.
The whole thing takes about a few minutes. No negative to applying a working partner code with a licensed broker. Your trading conditions stay the same. You just receive free funds in your account. Do not skip free money on the table when all it requires is typing a code during registration.