If you've ever registered with a trading broker, you may have seen a box requesting a partner code. Many people ignore it completely. That is a mistake, because applying the right code unlocks a sign-up bonus of real money in bonus funds.
A broker partner code is really just a referral code that you type in during sign-up. After you make your initial deposit, the broker adds additional capital into your trading account. Your spreads are not affected. You just have more capital to work with.
How to Get Valid Partner Codes for Brokers
Not every codes you find through Google are valid. A lot of broker partner codes posted online are no longer active. A blogger posts a code when it is first released and then moves on. Six months later the code has expired but the article is still ranking in Google.
This is why specialised code sites are valuable. Directories that actively check their codes prior to publishing them save you considerable frustration. Look for a site that tests codes on a regular basis, not just once when they are first posted.
Different Bonuses On Offer Using a Partner Code
The most common type is the matching bonus. You put in a certain amount and the broker matches a portion on top. Some brokers offer up to 100 %, which effectively doubles your starting funds.
There are also no-deposit bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for registering an account. No deposit required.
To put this in perspective, some well-known brokers right now offer welcome bonuses learn how up to several thousand in bonus funds. That is real funds you can put to work from day one.
What to Be Aware Of Before Using a Broker Partner Code
The main term is a trading volume requirement. You need to trade a minimum amount of trades before the extra money are made available for withdrawal. This is entirely typical across the industry and should not put you off.
Additionally verify if the bonus has an time limit, and what happens if you cash out your original deposit before hitting the trading requirement. Most brokers will cancel the bonus if you do this.
Steps to Apply a Broker Partner Code
This process is quite easy. Get a working partner code from a reliable site. Head to your chosen broker's sign-up page. Fill in your details as usual. Paste the partner code in the promo code box. Complete your registration and place your opening deposit. The bonus will be added on its own.
The entire process should take about a few minutes. No downside to applying a verified partner code with a regulated broker. Your trading conditions do not change. You just start with additional funds in your account. There is no reason to leave extra capital going to waste if all it requires is entering a code at sign-up.