If you've ever opened an account with a forex broker, you have probably come across a box requesting a partner code. Many people ignore it completely. That is a mistake, because applying the correct code can get you a welcome bonus worth real money in free money.
A broker partner code is essentially a referral code that you enter during registration. After you make your initial deposit, the broker gives you extra money into your trading account. Your commissions do not change. You just have additional funds to work with.
How to Source Active Partner Codes for Brokers
Very few of the codes you see through Google actually work. A lot of broker partner codes floating around online are no longer active. Some website owner posts a code when it is new and then moves on. Six months later the code has expired but the article is still live.
This is why dedicated code sites are worth using. helpful hints Resources that regularly test their codes before publishing them save you real hassle. Find a directory that checks codes on an ongoing basis, not just when they first go up.
Different Bonuses On Offer Using a Partner Code
By far the most popular type is the percentage match. You put in a certain amount and the broker adds a percentage on top. A few brokers match up to 100 percent, which basically doubles your starting funds.
There are also sign-up bonuses — a small amount, typically around ten and fifty dollars, just for creating an account. No deposit necessary.
Practically speaking, certain established brokers currently have welcome bonuses up to thousands of in bonus funds. That is genuine capital you can trade with from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The most common requirement is a turnover requirement. You have to complete a certain amount of trades before the bonus are made yours to keep. This is common in the forex world and does not need to put you off.
Also look at if the bonus has an expiry date, and what happens if you withdraw your initial deposit prior to reaching the trading threshold. Most brokers will cancel the bonus if you do this.
How to Use a Broker Partner Code
This procedure is quite easy. Find a verified partner code from a reliable directory. Go to your preferred broker's sign-up page. Fill in your information as usual. Type the partner code in the promo code field. Complete your sign-up and make your initial deposit. The bonus gets added automatically.
The entire process should take maybe a few minutes. No downside to entering a valid partner code with a reputable broker. The spreads stay the same. You just receive additional funds in your account. Do not leave free capital on the table if all it requires is typing a code during registration.