If you've ever signed up for a trading broker, you may have come across a box requesting a partner code. Most new traders leave it blank. That is a bad move, because applying the right code can get you a welcome bonus of a significant amount in bonus trading capital.
A broker partner code is really just a referral code that you enter during account opening. After you make your opening deposit, the broker adds additional capital into your live account. Your trading conditions stay the same. You just have more money to start with.
How to Source Valid Partner Codes for Brokers
Very few of the codes you see online actually work. A lot of broker partner codes shared online are expired. A blogger posts a code when it is first released and then forgets about it. Weeks later the promotion has expired but the post is still live.
That is the reason curated code sites are valuable. Resources that actually test their codes prior to publishing them spare you real wasted time. Find a directory that verifies codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Using a Partner Code
The most common type is the deposit match. You deposit a minimum amount and the broker matches a percentage on top. Certain brokers match up to 100 percent, which basically doubles your initial money.
Some brokers offer no-deposit bonuses — a token amount, usually around ten and fifty dollars, just for opening an account. No deposit necessary.
In real terms, certain well-known brokers currently offer welcome bonuses worth thousands of in extra trading capital. That is actual funds you can trade with from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The most common term is a lot requirement. You must trade a specified volume before the bonus funds become available for withdrawal. This is common in the forex world and should not put you off.
Additionally look at whether the bonus has an expiry date, and what happens if you pull out your initial find out deposit before meeting the volume requirement. Many brokers will forfeit the bonus if you do this.
How to Apply a Broker Partner Code
The procedure is quite simple. Get a verified partner code from a reputable site. Visit your selected broker's registration page. Fill in your information as normal. Enter the partner code in the partner code box. Submit your sign-up and place your opening deposit. The bonus gets added on its own.
The entire process should take about five to ten minutes. No negative to applying a working partner code with a reputable broker. The spreads stay the same. You just start with additional money in your account. Do not skip extra capital on the table if all it takes is typing a code during registration.