If you've ever registered with a forex broker, you have probably come across a box requesting a partner code. A lot of traders skip right past it. That is a bad move, because entering the correct code unlocks a sign-up bonus worth real money in free money.
A broker partner code is really just a referral code that you input during registration. Once you complete your initial deposit, the broker adds additional capital into your trading account. The fees are not affected. You just get more funds to start with.
Where to Get Active Partner Codes for Brokers
Very few of the codes you come across online are valid. Most broker partner codes floating around online are dead. Someone lists a code when it is first released and then forgets about it. Weeks later the offer has expired but the article is still up.
That is the reason specialised directories are valuable. Directories that actively test their codes before publishing them spare you a lot of frustration. Use a site that tests codes on a regular basis, not just when useful resource they first go up.
Types of Bonuses On Offer Through a Partner Code
The standard type is the percentage match. You put in a certain amount and the broker credits a portion on top. Some brokers match up to 100 percent, which practically doubles your starting money.
There are also sign-up bonuses — a small amount, typically somewhere between 10 to 50 dollars, just for opening an account. No deposit necessary.
Practically speaking, several well-known brokers currently offer welcome bonuses of thousands of in extra trading capital. That is genuine funds you can put to work from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The standard requirement is a lot requirement. You must trade a specified volume before the bonus become yours to keep. This is normal across the industry and does not need to worry you.
Additionally verify whether the bonus has an validity window, and what happens if you pull out your original deposit before hitting the trading requirement. Many brokers will void the bonus if you do this.
Steps to Activate a Broker Partner Code
The procedure is fairly simple. Source a verified partner code from a trusted site. Visit your selected broker's sign-up page. Enter your details as normal. Enter the partner code in the partner code field. Complete your sign-up and place your initial deposit. The bonus will be added straight away.
The entire process takes roughly 5 to 10 minutes. There is no negative to entering a valid partner code with a reputable broker. The fees stay the same. You just start with free capital in your account. There is no reason to skip free funds going to waste when all it takes is pasting a code during registration.