If you've ever opened an account with a trading broker, you have probably noticed a box requesting a partner code. Many people ignore it completely. That is a mistake, because using the right code gives you a sign-up bonus worth a significant amount in free cash.
A broker partner code is essentially a promotional code that you enter during account opening. After you place your initial deposit, the broker gives you extra money into your live account. Your commissions stay the same. You just receive more capital to trade with.
How to Source Active Partner Codes for Brokers
Not all codes you come across online actually work. Many broker partner codes posted online are no longer active. A blogger publishes a code when it is new and then moves on. Six months later the code has ended but the article is still ranking in Google.
That is the reason curated verification sites are valuable. Sites that actively test their codes before publishing them save you considerable frustration. Use a source that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through 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. Some brokers match up to 100 percent, which basically doubles your starting money.
Some brokers offer sign-up bonuses — a modest amount, usually around 10 to 50 dollars, just for creating an account. No deposit necessary.
To put this in perspective, some established brokers currently offer sign-up bonuses of thousands of in extra trading capital. That is actual funds you can trade with from day one.
Things to Be Aware Of Before Using a Broker Partner Code
The most common requirement is a lot requirement. You need to execute a certain volume before the extra money are made withdrawable. This is normal across the industry and does not need to put you off.
Additionally verify whether the bonus has an expiry date, and what happens if you cash out your initial deposit prior to meeting the volume requirement. Most brokers will void the bonus if you do this.
Steps to Activate a Broker Partner Code
This process is pretty straightforward. Find a active partner code from a trusted source. Head to your selected broker's sign-up page. Enter your details as normal. Enter the partner code in the partner code field. Finish your learn more registration and place your initial deposit. The bonus gets credited straight away.
The entire process should take about a few minutes. There is no negative to using a working partner code with a licensed broker. The fees remain identical. You just get additional money in your account. There is no reason to leave extra funds on the table if all it takes is pasting a code during registration.