How to Use Partner Codes for Forex Trading
If you've ever registered with a CFD broker, you have probably noticed a field requesting a partner code. A lot of traders ignore it completely. That is a missed opportunity, because applying the correct code gives you a welcome bonus of real money in additional funds.
A broker partner code is really just a promotional code that you type in during sign-up. Once you make your initial deposit, the broker gives you additional capital into your live account. Your spreads stay the same. You just get additional funds to work with.
How to Source Verified Partner Codes for Brokers
Very few of the codes you see through Google actually work. Most broker partner codes floating around online are no longer active. Some website owner publishes a code when it is new and then forgets about it. Weeks later the promotion has expired but the post is still up.
That is the reason specialised directories are worth using. Directories that regularly test their codes prior to listing them spare you considerable frustration. Find a site that verifies codes on a regular basis, not just once when they are first posted.
Types of Bonuses You Can Get Using a Partner Code
The most common type is the matching bonus. You put in a minimum amount and the broker matches a percentage on top. Some brokers offer up to 100 percent, which practically doubles your starting money.
Some brokers offer sign-up bonuses — a modest amount, often somewhere between 10 to 50 dollars, just for registering an account. No deposit necessary.
In real terms, several major brokers currently run sign-up bonuses of thousands of in bonus funds. That is actual money you can use from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The main condition is a trading volume requirement. You have to execute a minimum number of lots before the bonus funds are made available for withdrawal. This is standard in the forex world and does not need to scare you.
Also verify if the bonus has an expiry date, and what happens if you withdraw your initial deposit prior to reaching the trading threshold. Most brokers info here will void the bonus if you do this.
How to Activate a Broker Partner Code
The procedure is quite easy. Find a verified partner code from a reputable site. Head to your preferred broker's sign-up page. Fill in your information as normal. Paste the partner code in the promo code field. Complete your registration and place your initial deposit. The bonus will be credited automatically.
The whole process takes roughly a few minutes. There is no disadvantage to entering a working partner code with a regulated broker. Your spreads do not change. You just start with extra money in your account. There is no reason to miss free capital unclaimed if all it takes is typing a code during registration.