If you've ever registered with a trading broker, you have probably noticed a field asking for a partner code. A lot of people ignore it completely. That is a mistake, because using the right code can get you a sign-up bonus of real money in free funds.
A broker partner code is really just a referral code that you input during account opening. After you place your first deposit, the broker gives you additional capital in your trading account. The commissions are not affected. You just have additional money to work with.
Where to Get Verified Partner Codes for Brokers
Not all codes you see on the internet are still active. Most broker partner codes floating around online are expired. Someone publishes a code when it is first released and then moves on. Six months later the offer has expired but the article is still up.
This is why specialised verification sites are valuable. Sites that actually check their codes before publishing them save you a lot of frustration. Find a site that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through a Partner Code
By far the most popular type is the deposit match. You put in a minimum amount and the broker matches a percentage on top. Some brokers match up to 100 percent, which effectively doubles your starting funds.
There are also no-deposit bonuses — a modest amount, typically somewhere between ten and fifty dollars, just for opening an account. No deposit needed.
In real terms, some well-known brokers right now offer welcome bonuses of thousands of in bonus funds. That is real money you can put to work from day one.
Things to Be Aware Of Before Entering a Broker Partner Code
The most common condition is a trading volume requirement. You have to execute a minimum number of lots before the bonus become yours to keep. This is see here common across the industry and does not need to put you off.
Also verify if the bonus has an time limit, and what happens if you pull out your initial deposit prior to meeting the trading requirement. Many brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
The procedure is quite straightforward. Get a active partner code from a reputable site. Head to your chosen broker's registration page. Fill in your information as usual. Type the partner code in the partner code box. Submit your sign-up and place your initial deposit. The bonus gets added on its own.
The whole process should take maybe five to ten minutes. There is no negative to entering a verified partner code with a reputable broker. The spreads do not change. You just get bonus capital in your account. There is no reason to miss bonus money unclaimed when all it requires is typing a code at sign-up.