How to Use Partner Codes for CFD Brokers
If you have ever opened an account with a CFD broker, you have probably seen a box asking for a partner code. A lot of traders skip right past it. That is a mistake, because entering the right code gives you a deposit bonus worth a significant amount in extra trading capital.
A broker partner code is basically a referral code full report that you enter during account opening. After you make your first deposit, the broker credits extra money in your trading account. The spreads remain unchanged. You just have extra money to start with.
How to Get Verified Partner Codes for Brokers
Very few of the codes you see online are valid. Many broker partner codes floating around online are expired. Some website owner publishes a code when it is new and then never checks it again. Six months later the code has ended but the page is still ranking in Google.
This is why curated verification sites are valuable. Resources that actively verify their codes prior to listing them save you considerable wasted time. Use a site that tests codes on an ongoing basis, not just when they first go up.
Types of Bonuses You Can Get Through 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 percent, which basically doubles your opening funds.
Some brokers offer free bonuses — a token amount, typically somewhere between ten and fifty dollars, just for registering an account. No deposit necessary.
To put this in perspective, certain established brokers right now offer welcome bonuses worth several thousand dollars. That is actual money you can trade with from day one.
What to Know Before Applying a Broker Partner Code
The standard requirement is a turnover requirement. You have to trade a certain amount of trades before the bonus are made withdrawable. This is entirely typical in the forex world and does not need to scare you.
Also look at whether the bonus has an validity window, and what happens if you cash out your initial deposit before meeting the volume target. Many brokers will cancel the bonus if you do this.
How to Use a Broker Partner Code
This procedure is fairly simple. Source a active partner code from a reputable directory. Visit your chosen broker's sign-up page. Complete your information as usual. Type the partner code in the partner code field. Finish your registration and place your first deposit. The bonus gets applied straight away.
The entire process takes about a few minutes. There is no downside to applying a valid partner code with a licensed broker. The spreads remain identical. You just start with bonus capital in your account. There is no reason to miss bonus funds unclaimed if all it requires is typing a code during registration.