Understanding Partner Codes for CFD Trading
If you have ever signed up for a CFD broker, you might have noticed a box asking for a partner code. A lot of people ignore it completely. That is a mistake, because applying the right code unlocks a welcome bonus of a significant amount in bonus funds.
A broker partner code is really just a referral code that you input during registration. Once you complete your opening deposit, the broker gives you extra money in your live account. Your commissions stay the same. You just start with extra money to trade with.
How to Get Active Partner Codes for Brokers
Very few of the codes you find through Google actually work. Many broker partner codes posted online are no longer active. Someone lists a code when it is new and then forgets about it. Months later the code has expired but the post is still up.
That is the reason specialised directories are worth using. Sites that regularly check their codes prior to listing them spare you a lot of frustration. Use a site that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses You get more info Can Get Using a Partner Code
The standard type is the percentage match. You put in a certain amount and the broker matches a percentage on top. Some brokers offer up to 100 percent, which basically doubles your initial money.
Some brokers offer no-deposit bonuses — a small amount, typically somewhere between ten and fifty dollars, just for creating an account. No deposit needed.
To put this in perspective, certain well-known brokers currently run sign-up bonuses worth several thousand dollars. That is real money you can put to work from day one.
What to Watch Out For Before Applying a Broker Partner Code
The standard requirement is a turnover requirement. You need to complete a minimum number of lots before the extra money are made available for withdrawal. This is normal across the industry and should not put you off.
Additionally look at if the bonus has an expiry date, and what happens if you withdraw your original deposit before meeting the trading requirement. Many brokers will void the bonus if you do this.
How to Use a Broker Partner Code
This procedure is fairly simple. Get a verified partner code from a trusted site. Visit your preferred broker's sign-up page. Enter your details as normal. Type the partner code in the promotional code box. Finish your registration and complete your first deposit. The bonus gets credited automatically.
The entire thing takes roughly 5 to 10 minutes. There is no disadvantage to using a working partner code with a reputable broker. Your spreads do not change. You just receive extra capital in your account. Do not leave free funds going to waste when all it requires is entering a code at sign-up.