Understanding Partner Codes for CFD Trading
If you've ever opened an account with a forex broker, you have probably noticed a box asking for a partner code. A lot of traders ignore it completely. That is a bad move, because entering the correct code gives you a welcome bonus worth real money in additional money.
A broker partner code is essentially a promotional code that you input during account opening. After you make your opening deposit, the broker adds additional capital in your trading account. The fees remain unchanged. You just receive additional funds to start with.
How to Get Valid Partner Codes for Brokers
Not all codes you find on the internet are still active. Most broker partner codes shared online are outdated. A blogger publishes a code when it is new and then forgets about it. Weeks later the code has expired but the page is still up.
That is the reason specialised directories are worth using. Directories that regularly verify their codes prior to listing them save you real hassle. Use a source that checks codes on a regular basis, not just when they first go up.
Different Bonuses You Can Get Using a Partner Code
By far the most popular type is the matching bonus. You fund with a certain amount and the broker matches a percentage on top. A few brokers offer up to 100 percent, which basically doubles your starting funds.
Some brokers offer sign-up bonuses — a token amount, often around 10 to 50 dollars, just for opening an account. No deposit necessary.
Practically speaking, certain major brokers right now run sign-up bonuses worth several thousand dollars. That is actual money you can use from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The standard requirement is a lot requirement. You have to trade a specified volume before the bonus become yours to keep. This is normal in the forex world and should not put you off.
Also check if the bonus has an time limit, and what happens if you cash out your initial deposit prior to hitting the volume target. Many brokers will forfeit the bonus if you do this.
How to Apply a Broker Partner Code
This procedure is quite easy. Source a verified continue reading partner code from a trusted site. Visit your preferred broker's registration page. Complete your information as usual. Type the partner code in the promotional code field. Submit your registration and complete your first deposit. The bonus gets added automatically.
The whole thing should take about five to ten minutes. No negative to entering a verified partner code with a regulated broker. Your spreads stay the same. You just start with additional funds in your account. There is no reason to miss extra capital going to waste if all it requires is typing a code at sign-up.