How to Use Partner Codes for Forex Trading
If you have ever registered with a CFD broker, you have probably noticed a field asking for a partner code. Many traders leave it blank. That is a missed opportunity, because applying the right code can get you a sign-up bonus worth a significant amount in free money.
A broker partner code is really just a promotional code that you type in during sign-up. After you complete your initial deposit, the broker gives you additional capital into your live account. Your commissions stay the same. You just have more money to work with.
How to Find Verified Partner Codes for Brokers
Not all codes you find online are still active. A lot of broker partner codes shared online are no longer active. Someone posts a code when it is first released and then forgets about it. Weeks later the code has been discontinued but the post is still ranking in Google.
This is why curated directories are valuable. Sites that actually verify their codes before publishing them save you real hassle. Use a site that tests codes on a regular basis, not just once when they are first posted.
Types of Bonuses On Offer Through a Partner Code
The most common type is the deposit match. You deposit a minimum amount and the broker credits a percentage on read the article top. Certain brokers match up to 100 percent, which effectively doubles your starting capital.
There are also sign-up bonuses — a token amount, typically around ten and fifty dollars, just for registering an account. No deposit needed.
Practically speaking, several established brokers right now offer welcome bonuses worth several thousand in bonus funds. That is genuine capital you can trade with from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The standard term is a lot requirement. You must execute a minimum amount of trades before the extra money become yours to keep. This is common practice and should not worry you.
Also check if the bonus has an time limit, and what happens if you pull out your initial deposit prior to reaching the trading threshold. Most brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
The procedure is pretty simple. Source a working partner code from a reputable site. Head to your chosen broker's registration page. Complete your details as normal. Type the partner code in the partner code field. Complete your sign-up and place your initial deposit. The bonus should be applied straight away.
The entire thing takes about 5 to 10 minutes. No disadvantage to entering a verified partner code with a regulated broker. The fees stay the same. You just get extra capital in your account. There is no reason to leave free funds on the table when all it requires is entering a code during registration.