A Guide to Partner Codes for Forex Trading
If you've ever opened an account with a CFD broker, you may have seen a box asking for a partner code. Many people skip right past it. That is a missed opportunity, because entering the correct code unlocks a welcome bonus of real money in bonus trading capital.
A broker partner code is really just a referral code that you enter during account opening. Once you place your initial deposit, the broker credits extra money in your live account. Your spreads stay the same. You just have additional money to start with.
Where to Get Active Partner Codes for Brokers
Not all codes you see through Google are valid. A lot of broker partner codes shared online are outdated. Some website owner publishes a code when it is first released and then moves on. Weeks later the code has been discontinued but the page is still live.
That is the reason dedicated directories are worth using. Resources that actually verify their codes before publishing them spare you considerable hassle. Look for a site that checks codes on an ongoing basis, not just when they first go up.
Different Bonuses You Can Get With a Partner Code
The standard type is the percentage match. You deposit a set amount and the broker adds a percentage on top. Some brokers match up to 100 %, which practically doubles your initial capital.
There are also free bonuses — a small amount, usually somewhere between 10 to 50 dollars, just for opening an account. No deposit required.
To put this in perspective, several major brokers right now run welcome bonuses up to several thousand dollars. That is actual capital you can trade with from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The standard condition is a trading volume requirement. You have to complete a certain volume before the bonus funds are made available for withdrawal. This is common in the forex world and does not need to worry you.
Also verify whether the bonus has an validity window, and what happens if you pull out your original deposit prior to hitting the volume threshold. Many brokers will void the bonus if you do this.
How to Use a Broker Partner Code
The procedure is quite easy. Get a verified partner code from a trusted site. Head to your selected broker's registration page. Fill in your details as normal. Type the partner code in the promotional code field. Finish your registration website and make your initial deposit. The bonus will be applied automatically.
The entire thing should take about 5 to 10 minutes. There is no disadvantage to entering a verified partner code with a reputable broker. Your fees stay the same. You just get additional money in your account. There is no reason to miss free capital going to waste when all it takes is pasting a code at sign-up.