If you've ever registered with a trading broker, you may have seen a field requesting a partner code. Most new traders skip right past it. That is a bad move, because using the correct code can get you a welcome bonus worth a significant amount in extra money.
A broker partner code is really just a promo code that you input during sign-up. Once you make your initial deposit, the broker gives you extra money in your trading account. Your fees are not affected. You just have extra funds to trade with.
How to Find Active Partner Codes for Brokers
Very few of the codes you come across on the internet are valid. Many broker partner codes shared online are no longer active. Some website owner posts a code when it is new and then never checks it again. Weeks later the code has been discontinued but the article is still ranking in Google.
That is the reason dedicated code sites are valuable. Sites that actively check their codes prior to get more information listing them save you considerable frustration. Use a source that tests codes on an ongoing basis, not just once when they are first posted.
Different Bonuses Available Using a Partner Code
By far the most popular type is the percentage match. You put in a set amount and the broker credits a portion on top. Certain brokers match up to 100 %, which practically doubles your initial money.
Some brokers offer free bonuses — a token amount, usually around 10 to 50 dollars, just for registering an account. No deposit needed.
To put this in perspective, certain major brokers right now have welcome bonuses up to thousands of dollars. That is genuine money you can trade with from day one.
Things to Know Before Using a Broker Partner Code
The most common requirement is a trading volume requirement. You must complete a minimum amount of trades before the bonus funds become yours to keep. This is normal practice and does not need to scare you.
Also look at if the bonus has an time limit, and what happens if you withdraw your original deposit before reaching the trading threshold. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
The process is pretty simple. Find a verified partner code from a trusted directory. Head to your selected broker's sign-up page. Complete your information as usual. Enter the partner code in the promotional code field. Complete your registration and place your first deposit. The bonus gets added automatically.
The entire process should take roughly 5 to 10 minutes. There is no disadvantage to using a working partner code with a licensed broker. The spreads stay the same. You just get extra money in your account. Do not miss bonus funds on the table when all it takes is typing a code during registration.