If you've ever signed up for a forex broker, you might have come across a field requesting a partner code. A lot of traders skip right past it. That is a mistake, because using the correct code gives you a deposit bonus worth real money in free trading capital.
A broker partner code is really just a referral code that you type in during sign-up. After you make your initial deposit, the broker credits bonus funds into your live account. Your trading conditions do not change. You just start with additional money to trade with.
How to Source Valid Partner Codes for Brokers
Very few of the codes you come across through Google are valid. A lot of broker partner codes floating around online are dead. Some website owner posts a code when it is first released and then moves on. Six months later the promotion has ended but the page is still ranking in Google.
That is the reason specialised code sites are valuable. Resources that regularly article verify their codes prior to publishing them spare you considerable hassle. Use a site that verifies codes on a regular basis, not just when they first go up.
Types of Bonuses Available Through a Partner Code
By far the most popular type is the matching bonus. You fund with a certain amount and the broker adds a percentage on top. Some brokers match up to 100 %, which practically doubles your opening money.
Some brokers offer free bonuses — a small amount, usually around ten and fifty dollars, just for registering an account. No deposit necessary.
To put this in perspective, several major brokers right now have welcome bonuses of thousands of in extra trading capital. That is genuine funds you can trade with from day one.
Things to Watch Out For Before Entering a Broker Partner Code
The most common requirement is a trading volume requirement. You have to trade a minimum amount of trades before the extra money become yours to keep. This is common in the forex world and does not need to scare you.
Additionally look at whether the bonus has an validity window, and what happens if you withdraw your initial deposit prior to meeting the volume target. Many brokers will void the bonus if you do this.
How to Use a Broker Partner Code
This process is fairly simple. Source a working partner code from a reliable directory. Go to your preferred broker's sign-up page. Complete your information as normal. Paste the partner code in the partner code box. Finish your sign-up and complete your first deposit. The bonus should be applied straight away.
The whole process should take roughly a few minutes. There is no negative to applying a verified partner code with a licensed broker. The fees do not change. You just start with extra capital in your account. Do not leave bonus funds unclaimed if all it takes is pasting a code during registration.