If you have ever signed up for a forex broker, you might have noticed a box asking for a partner code. A lot of people skip right past it. That is a mistake, because entering the right code can get you a welcome bonus of real money in bonus funds.
A broker partner code is basically a referral code that you type in during registration. After you make your initial deposit, the broker adds additional capital into your live account. Your commissions remain unchanged. You just get additional capital to trade with.
How to Source Valid Partner Codes for Brokers
Very few of the codes you resources come across through Google are valid. Most broker partner codes floating around online are no longer active. Some website owner publishes a code when it is new and then moves on. Weeks later the promotion has ended but the page is still ranking in Google.
That is the reason dedicated verification sites are worth using. Resources that actually verify their codes before listing them save you a lot of wasted time. Find a directory that verifies codes on a regular basis, not just when they first go up.
Different Bonuses Available With a Partner Code
The standard type is the matching bonus. You deposit a minimum amount and the broker adds a percentage on top. Certain brokers match up to 100 percent, which effectively doubles your initial capital.
There are also free bonuses — a small amount, often somewhere between 10 to 50 dollars, just for registering an account. No deposit required.
Practically speaking, some well-known brokers currently run sign-up bonuses of several thousand in extra trading capital. That is actual funds you can trade with from day one.
Things to Know Before Entering a Broker Partner Code
The most common condition is a trading volume requirement. You must trade a specified volume 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 if the bonus has an expiry date, and what happens if you withdraw your initial deposit before hitting the volume threshold. Many brokers will forfeit the bonus if you do this.
Steps to Apply a Broker Partner Code
The procedure is fairly simple. Find a active partner code from a trusted directory. Head to your selected broker's registration page. Complete your information as normal. Type the partner code in the promotional code box. Complete your registration and place your opening deposit. The bonus gets applied on its own.
The whole thing should take roughly five to ten minutes. There is no negative to entering a working partner code with a reputable broker. The fees stay the same. You just get bonus capital in your account. Do not miss bonus capital on the table if all it requires is pasting a code during registration.