If you've ever opened an account with a forex broker, you may have come across a field requesting a partner code. Many traders leave it blank. That is a bad move, because entering the correct code can get you a sign-up bonus worth a significant amount in extra trading capital.
A broker partner code is really just a referral code that you input during account opening. Once you complete your first deposit, the broker gives you here bonus funds into your live account. Your spreads do not change. You just get additional capital to work with.
How to Source Active Partner Codes for Brokers
Not every codes you come across through Google are still active. Many broker partner codes shared online are no longer active. Some website owner publishes a code when it is new and then never checks it again. Months later the code has expired but the article is still live.
That is the reason dedicated verification sites matter. Resources that regularly test their codes prior to listing them save you real frustration. Use a directory that tests codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses On Offer Through a Partner Code
By far the most popular type is the percentage match. You deposit a certain amount and the broker credits a portion on top. Certain brokers offer up to 100 percent, which effectively doubles your starting money.
There are also sign-up bonuses — a small amount, often somewhere between 10 to 50 dollars, just for creating an account. No deposit needed.
Practically speaking, certain established brokers right now offer welcome bonuses worth several thousand in bonus funds. That is genuine money you can put to work from day one.
Things to Be Aware Of Before Entering a Broker Partner Code
The most common condition is a lot requirement. You need to trade a certain amount of trades before the bonus become withdrawable. This is standard across the industry and should not put you off.
Additionally verify if the bonus has an validity window, and what happens if you withdraw your original deposit before hitting the volume target. Most brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This process is pretty straightforward. Get a verified partner code from a reliable source. Head to your selected broker's registration page. Complete your information as usual. Enter the partner code in the promo code field. Submit your registration and place your initial deposit. The bonus should be added automatically.
The entire thing takes about five to ten minutes. No disadvantage to entering a valid partner code with a reputable broker. The spreads do not change. You just start with bonus funds in your account. Do not miss extra money unclaimed when all it takes is entering a code at registration.