If you have ever registered with a forex broker, you may have seen a field requesting a partner code. A lot of new traders leave it blank. That is a missed opportunity, because using the right code can get you a welcome bonus worth hundreds or even thousands in free cash.
A broker partner code is essentially a promo code that you enter during sign-up. Once you make your initial deposit, the broker credits additional capital in your trading account. The fees do not change. You just have additional funds to trade with.
Where to Find Working Partner Codes for Brokers
Very few of the codes you come across online actually work. Most broker partner codes posted online are outdated. A blogger lists a code when it is first released and then never checks it again. Six months later the code has expired but the page is still up.
This is why dedicated verification sites are valuable. Resources that actually verify their codes before listing them save you considerable hassle. Look for a directory that verifies codes on a regular basis, not just when they first go up.
Types of Bonuses Available Using a Partner Code
The standard type is the deposit match. You fund with a certain amount and the broker matches a percentage on top. A few brokers offer up to 100 %, which effectively doubles your opening capital.
Some brokers offer no-deposit bonuses — a small amount, often somewhere between ten and fifty dollars, just for creating an account. No deposit necessary.
To put this in perspective, useful resource several established brokers currently offer sign-up bonuses of several thousand in bonus funds. That is real funds you can use from day one.
What to Watch Out For Before Applying a Broker Partner Code
The standard requirement is a trading volume requirement. You have to execute a certain number of lots before the extra money become withdrawable. This is common practice and does not need to worry you.
Additionally verify whether the bonus has an validity window, and what happens if you withdraw your initial deposit prior to hitting the trading threshold. Many brokers will void the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is fairly simple. Get a verified partner code from a reputable site. Visit your preferred broker's registration page. Complete your details as usual. Paste the partner code in the promotional code field. Finish your registration and place your first deposit. The bonus should be applied on its own.
The whole thing takes roughly 5 to 10 minutes. No negative to using a verified partner code with a licensed broker. Your fees remain identical. You just receive additional funds in your account. Do not miss bonus funds on the table if all it takes is typing a code at sign-up.