A Guide to Partner Codes for Online Brokers
If you have ever signed up for a trading broker, you may have seen a field requesting a partner code. A lot of traders ignore it completely. That is a bad move, because applying the right code can get you a deposit bonus worth hundreds or even thousands in free trading capital.
A broker partner code is really just a promotional code that you enter during sign-up. After you place your initial deposit, the broker gives you additional capital in your trading account. The trading conditions are not affected. You just receive more money to start with.
How to Get Active Partner Codes for Brokers
Very few of the codes you come across on the internet actually work. Many broker partner codes posted online are outdated. Some website owner posts a code when it is first released and then never checks it again. Weeks later the code has ended but the page is still up.
This is why curated verification sites are valuable. Directories that regularly check their codes before listing them spare you a lot of hassle. Find a source that checks codes on a regular basis, not just once when they are first posted.
Types of Bonuses Available Using a Partner Code
The standard type is the matching bonus. You fund with a certain amount and the broker adds a percentage on top. A few brokers match up to 100 percent, which practically doubles your starting funds.
Some brokers offer free bonuses — a small amount, typically somewhere between 10 to 50 dollars, just for registering an account. No deposit necessary.
Practically speaking, certain well-known brokers currently have welcome bonuses up to thousands of in extra trading capital. That is genuine capital you can use from day one.
What to Watch Out For Before Applying a Broker Partner Code
The main term is a trading volume requirement. You need to trade a certain volume before the extra money are made withdrawable. This is common practice and does not need to worry you.
Additionally check if the bonus has an time limit, and what happens if you withdraw your initial deposit prior to reaching the trading threshold. Most brokers will cancel the bonus if you do this.
How to Apply a Broker Partner Code
This process is fairly easy. Get a working partner code from a reliable directory. Go to your preferred broker's registration page. Enter your information as usual. Type the partner code in the partner code field. Complete your sign-up and make your first deposit. The bonus should be credited on its own.
The entire thing should take roughly five to ten minutes. There is no downside to entering a working partner code with a licensed broker. The spreads stay the same. You just start with bonus capital in your account. Do not skip extra capital further reading unclaimed when all it requires is pasting a code at sign-up.