If you've ever signed up for a forex broker, you have probably come across a box requesting a partner code. Most traders ignore it completely. That is a missed opportunity, because using the right code can get you a sign-up bonus worth a significant amount in additional funds.
A broker partner code is basically a promo code that you enter during sign-up. Once you place your first deposit, the broker adds bonus funds in your trading account. The commissions stay the same. You just have additional funds to start with.
How to Source Active Partner Codes for Brokers
Not every codes you find through Google actually work. Most broker partner codes posted online are outdated. Someone lists a code when it is new main page and then never checks it again. Months later the promotion has expired but the page is still live.
This is why dedicated code sites are valuable. Resources that actively test their codes prior to listing them save you real hassle. Look for a site that tests codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses You Can Get With a Partner Code
The most common type is the matching bonus. You fund with a set amount and the broker adds a portion on top. Some brokers offer up to 100 percent, which effectively doubles your opening money.
Some brokers offer no-deposit bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for creating an account. No deposit needed.
In real terms, several established brokers right now offer welcome bonuses of several thousand dollars. That is actual money you can put to work from day one.
Things to Know Before Entering a Broker Partner Code
The standard requirement is a trading volume requirement. You have to trade a certain number of lots before the bonus funds become yours to keep. This is entirely typical in the forex world and should not worry you.
Also verify whether the bonus has an time limit, and what happens if you cash out your initial deposit before hitting the trading target. Most brokers will forfeit the bonus if you do this.
Steps to Apply a Broker Partner Code
The procedure is quite simple. Find a working partner code from a reliable site. Go to your preferred broker's registration page. Fill in your information as normal. Enter the partner code in the promotional code box. Submit your registration and place your first deposit. The bonus will be applied automatically.
The entire thing takes maybe five to ten minutes. No disadvantage to using a valid partner code with a reputable broker. The fees do not change. You just start with bonus capital in your account. Do not skip bonus capital going to waste when all it takes is entering a code at sign-up.