If you've ever opened an account with a forex broker, you might have seen a field requesting a partner code. Most people ignore it completely. That is a missed opportunity, because entering the right code unlocks a deposit bonus worth hundreds or even thousands in free money.
A broker partner code is essentially a promotional code that you type in during account opening. After you place your opening deposit, the broker credits extra money in your trading account. Your fees stay the same. You just receive extra capital to start with.
How to Find Valid Partner Codes for Brokers
Not every codes you find on the internet actually work. A lot of broker partner codes posted online are dead. A blogger lists a code when it is first released and then forgets about it. Weeks later the offer has been discontinued but the page is still up.
This is why curated code sites are worth using. Sites that actively check their codes prior to listing them spare you considerable wasted time. Look for a site that verifies codes on a regular basis, not just when they first go up.
Types of Bonuses On Offer With a Partner Code
The most common type is the matching bonus. You deposit a set amount and the broker adds a portion on top. Certain brokers match up to 100 percent, which basically doubles your opening capital.
There are also sign-up bonuses — a token amount, typically somewhere between 10 to 50 dollars, just for registering resources an account. No deposit necessary.
Practically speaking, certain major brokers currently have sign-up bonuses of several thousand in extra trading capital. That is genuine funds you can put to work from day one.
Things to Know Before Entering a Broker Partner Code
The main condition is a trading volume requirement. You have to execute a minimum amount of trades before the bonus are made withdrawable. This is standard practice and does not need to scare you.
Additionally look at if the bonus has an validity window, and what happens if you withdraw your original deposit before hitting the volume threshold. Many brokers will void the bonus if you do this.
Steps to Apply a Broker Partner Code
This process is pretty straightforward. Find a active partner code from a reliable source. Head to your preferred broker's registration page. Enter your information as usual. Enter the partner code in the partner code field. Complete your sign-up and place your initial deposit. The bonus should be applied straight away.
The entire thing takes maybe 5 to 10 minutes. There is no negative to using a verified partner code with a regulated broker. The spreads stay the same. You just get extra funds in your account. Do not miss extra money going to waste if all it takes is typing a code during registration.