If you've ever signed up for read the article a trading broker, you have probably come across a box asking for a partner code. Many new traders ignore it completely. That is a bad move, because using the right code gives you a sign-up bonus worth real money in bonus funds.
A broker partner code is really just a promo code that you enter during sign-up. Once you complete your initial deposit, the broker gives you extra money into your trading account. Your commissions are not affected. You just have more money to work with.
Where to Find Valid Partner Codes for Brokers
Not every codes you find on the internet are valid. Most broker partner codes posted online are dead. Someone publishes a code when it is first released and then never checks it again. Months later the offer has ended but the page is still ranking in Google.
That is the reason dedicated code sites are valuable. Directories that actually verify their codes before listing them spare you real frustration. Use a site that verifies codes on a regular basis, not just once when they are first posted.
Different Bonuses On Offer With a Partner Code
The most common type is the matching bonus. You put in a certain amount and the broker adds a percentage on top. Certain brokers offer up to 100 percent, which practically doubles your starting funds.
There are also free bonuses — a token amount, typically around ten and fifty dollars, just for creating an account. No deposit necessary.
Practically speaking, several major brokers currently run welcome bonuses of several thousand dollars. That is actual funds you can trade with from day one.
What to Be Aware Of Before Using a Broker Partner Code
The standard term is a turnover requirement. You must trade a specified amount of trades before the bonus funds are made yours to keep. This is entirely typical across the industry and does not need to put you off.
Also look at if the bonus has an validity window, and what happens if you pull out your initial deposit prior to meeting the trading requirement. Most brokers will void the bonus if you do this.
Steps to Apply a Broker Partner Code
The process is pretty easy. Get a verified partner code from a trusted source. Head to your chosen broker's registration page. Fill in your information as usual. Paste the partner code in the promotional code box. Submit your sign-up and complete your opening deposit. The bonus should be applied automatically.
The entire process takes about five to ten minutes. No downside to entering a valid partner code with a regulated broker. The spreads stay the same. You just get additional funds in your account. Do not miss extra funds unclaimed if all it requires is typing a code during registration.