If you've ever opened an account with a forex broker, you may have seen a box requesting a partner code. Most new traders ignore it completely. That is a mistake, because applying the right code can get you a deposit bonus worth hundreds or even thousands in extra trading capital.
A broker partner code is essentially a referral code that you input during account opening. Once you place your opening deposit, the broker adds additional capital into your trading account. Your fees are not affected. You just receive additional money to start with.
Where to Get Verified Partner Codes for Brokers
Not every codes you come across on the internet are still active. Many broker partner codes floating around online are no longer active. A blogger posts a code when it is first released and then moves on. Six months later the offer has expired but the news article is still live.
This is why dedicated verification sites are worth using. Sites that actually check their codes before listing them save you a lot of frustration. Look for a site that tests codes on a regular 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 matching bonus. You deposit a certain amount and the broker adds a percentage on top. Certain brokers match up to 100 %, which practically doubles your opening money.
Some brokers offer sign-up bonuses — a modest amount, typically somewhere between ten and fifty dollars, just for opening an account. No deposit necessary.
To put this in perspective, several major brokers currently have sign-up bonuses worth several thousand dollars. That is real capital you can trade with from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The standard requirement is a lot requirement. You must trade a certain volume before the extra money become yours to keep. This is normal across the industry and should not worry you.
Additionally check whether the bonus has an expiry date, and what happens if you withdraw your original deposit prior to reaching the trading threshold. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is quite simple. Find a active partner code from a trusted site. Head to your selected broker's registration page. Enter your information as normal. Type the partner code in the promotional code box. Complete your sign-up and make your opening deposit. The bonus will be added straight away.
The whole thing should take about a few minutes. There is no disadvantage to using a valid partner code with a licensed broker. Your trading conditions remain identical. You just receive free capital in your account. There is no reason to skip bonus funds going to waste when all it takes is typing a code at sign-up.