If you have ever registered with a trading broker, you might have seen a field asking for a partner code. Most people skip right past it. That is a bad move, because entering the correct code unlocks a deposit bonus of hundreds or even thousands in additional cash.
A broker partner code is essentially a referral code that you type in during account opening. After you place your first deposit, the broker adds extra money in your trading account. Your commissions do not change. You just start with extra capital to work with.
Where to Get Working Partner Codes for Brokers
Not every codes you see through Google are valid. Many broker partner codes floating around online are outdated. A blogger posts a code when it is new and then forgets about it. Months later the code has ended but the post is still up.
That is the reason dedicated directories are valuable. Directories that actively test their codes before listing them save you real wasted time. Use a source that tests codes on a regular basis, not just when they first go up.
Different Bonuses Available With a Partner Code
The standard type is the matching bonus. You put in a set amount and the broker matches a portion on top. A few brokers match up to 100 percent, which practically doubles your starting money.
There are also sign-up bonuses — a small amount, usually around ten and fifty dollars, just for registering an account. No deposit required.
Practically speaking, certain established brokers currently have sign-up bonuses worth thousands of dollars. That is actual money you can use from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The most common condition is a lot requirement. You need to execute a specified amount of more reading trades before the extra money are made available for withdrawal. This is common across the industry and should not worry you.
Also check if the bonus has an time limit, and what happens if you pull out your original deposit prior to reaching the volume requirement. Many brokers will forfeit the bonus if you do this.
How to Apply a Broker Partner Code
This process is pretty simple. Source a working partner code from a trusted directory. Visit your selected broker's sign-up page. Enter your information as normal. Paste the partner code in the partner code box. Submit your registration and place your first deposit. The bonus gets credited on its own.
The entire process takes maybe 5 to 10 minutes. There is no disadvantage to entering a verified partner code with a licensed broker. Your spreads do not change. You just start with extra funds in your account. Do not miss bonus funds on the table if all it takes is entering a code at registration.