Understanding Partner Codes for CFD Brokers
If you've ever registered with a forex broker, you have probably noticed a field requesting a partner code. A lot of new traders skip right past it. That is a mistake, because entering the right code unlocks a deposit bonus worth a significant amount in extra trading capital.
A broker partner code is essentially a referral code that you enter during registration. After you complete your initial deposit, the broker adds bonus funds in your live account. The trading conditions do not change. You just have extra funds to work with.
Where to Source Verified Partner Codes for Brokers
Very few of the codes you come across online are still active. Many broker partner codes floating around online are expired. A blogger posts a code when it is first released and then never checks it again. Six months later the code has been discontinued but the post is still live.
This is why specialised code sites are valuable. Resources that actually verify their codes before publishing them spare you real hassle. Find a source that checks codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses Available Using a Partner Code
The standard type is the matching bonus. You fund with a set amount and the broker credits a percentage on top. Some brokers match up to 100 percent, which effectively doubles your starting capital.
There are also free bonuses — a modest amount, usually somewhere between 10 to 50 dollars, just for opening an account. No deposit necessary.
To put this in perspective, certain well-known brokers right now offer welcome bonuses of several thousand dollars. That is actual funds you can put to work from day one.
What to Know Before Using a Broker Partner Code
The main term is a trading volume requirement. You must execute a certain amount of trades before the bonus funds become withdrawable. This is entirely typical across the industry and should not worry you.
Additionally look at if the bonus has an time limit, and what happens if you cash out your initial deposit before hitting the trading requirement. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is quite simple. Source a verified partner code from a reliable site. Go to your preferred broker's registration page. Complete your information as usual. Paste the partner code in the promo code field. Complete your registration and place your first deposit. The bonus gets added automatically.
The entire process should take about 5 to 10 minutes. There is no disadvantage to entering a valid partner code with a licensed broker. Your fees stay the same. You just receive extra capital in your account. Do not miss read more extra funds unclaimed when all it requires is entering a code at sign-up.