Understanding Partner Codes for Online Trading
If you've ever signed up for a trading broker, you may have come across a box requesting a partner code. Many people ignore it completely. That is a mistake, because entering the right code gives you a welcome bonus worth hundreds or even thousands in bonus funds.
A broker partner code is basically a promo code that you type in during registration. Once you complete your initial deposit, the broker gives you bonus funds in your trading account. The fees do not change. You just get more capital to article source start with.
Where to Get Active Partner Codes for Brokers
Not all codes you come across online are still active. A lot of broker partner codes posted online are no longer active. A blogger publishes a code when it is first released and then never checks it again. Six months later the offer has expired but the article is still up.
This is why curated directories are worth using. Directories that actively verify their codes prior to publishing them spare you considerable wasted time. Find a site that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through a Partner Code
The standard type is the percentage match. You deposit a minimum amount and the broker credits a percentage on top. Certain brokers offer up to 100 %, which practically doubles your initial funds.
Some brokers offer free bonuses — a small amount, often somewhere between 10 to 50 dollars, just for registering an account. No deposit needed.
In real terms, several established brokers currently offer sign-up bonuses worth several thousand in bonus funds. That is actual capital you can trade with from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The most common term is a turnover requirement. You must complete a certain volume before the bonus are made available for withdrawal. This is standard across the industry and does not need to put you off.
Also check if the bonus has an expiry date, and what happens if you withdraw your original deposit prior to hitting the trading requirement. Many brokers will forfeit the bonus if you do this.
Steps to Apply a Broker Partner Code
The process is quite easy. Get a verified partner code from a reliable site. Head to your preferred broker's registration page. Fill in your information as normal. Paste the partner code in the promo code field. Finish your registration and complete your initial deposit. The bonus gets added automatically.
The entire process should take about a few minutes. There is no disadvantage to entering a verified partner code with a reputable broker. The fees stay the same. You just get additional money in your account. There is no reason to skip extra funds going to waste when all it takes is entering a code during registration.