If you've ever signed up for a forex broker, you have probably noticed a field requesting a partner code. A lot of new traders ignore it completely. That is a mistake, because applying the right code can get you a deposit bonus of a significant amount in extra funds.
A broker partner code is really just a promo code that you enter during account opening. After you make your first deposit, the broker adds bonus funds into your live account. The fees do not change. You just get additional money to work with.
Where to Get Active Partner Codes for Brokers
Very few of the codes you find through Google actually work. A lot of broker partner codes floating around online are dead. Someone publishes a code when it is first released and then moves on. Months later the promotion has ended but the post is still live.
This is why dedicated verification sites matter. Directories that actually verify their codes prior to listing them spare you real frustration. Use a site that tests codes on an ongoing basis, not just once when they are first posted.
Different Bonuses Available Using a Partner Code
The most common type is the deposit match. You deposit a certain amount and the broker credits a percentage on top. Certain brokers offer up to 100 percent, which effectively doubles your starting money.
There are also free bonuses — a token amount, often somewhere between 10 to 50 dollars, just for opening an account. No deposit required.
To put this in perspective, certain major brokers currently this article have sign-up bonuses up to thousands of in bonus funds. That is actual funds you can trade with from day one.
What to Watch Out For Before Using a Broker Partner Code
The most common condition is a turnover requirement. You must trade a certain number of lots before the bonus are made yours to keep. This is common across the industry and does not need to put you off.
Additionally verify if the bonus has an time limit, and what happens if you withdraw your initial deposit prior to meeting the trading threshold. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is fairly easy. Source a working partner code from a reliable site. Head to your preferred broker's sign-up page. Complete your details as normal. Enter the partner code in the promo code box. Submit your sign-up and complete your initial deposit. The bonus gets added on its own.
The entire thing takes maybe five to ten minutes. No disadvantage to applying a valid partner code with a regulated broker. The spreads do not change. You just get extra funds in your account. There is no reason to miss free money going to waste if all it takes is typing a code at registration.