If you've ever signed up for a forex broker, you might have come across a box requesting a partner code. Many traders ignore it completely. That is a bad move, because applying the correct code gives you a sign-up bonus of real money in additional funds.
A broker partner code is basically a referral code that you type in during sign-up. After you complete your first deposit, the broker adds extra money into your trading account. The trading conditions remain unchanged. You just have extra money to work with.
How to Source Active Partner Codes for Brokers
Very few of the codes you come across online are valid. A lot of broker partner codes posted online are expired. A blogger posts a code when it is first released and then never checks it again. Six months later the promotion has been discontinued but the post is still up.
This is why specialised directories are valuable. Resources that regularly test their codes prior to publishing them spare you considerable wasted time. Look for a source that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through a Partner Code
The standard type is the matching bonus. You fund with a set amount and the broker credits a portion on top. Some brokers offer up to 100 %, which practically doubles your initial funds.
There are also no-deposit bonuses — a modest amount, usually around ten and fifty dollars, just for opening an account. No deposit required.
To put this in perspective, several well-known brokers right now have sign-up bonuses worth several thousand in extra trading capital. That is genuine capital you can use from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The most common requirement is a lot requirement. You need to trade a certain number of lots before the extra money are made available for withdrawal. This is standard in the forex world and should not scare you.
Also check whether the bonus has an time limit, and what happens if you cash out your original deposit before meeting the trading requirement. Many brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
This process is quite easy. Find a active partner code from a reliable site. Head to your selected broker's registration page. Complete your details as normal. Paste the partner code in the promo code box. Finish your registration and place your opening deposit. The bonus gets credited automatically.
The whole process takes roughly 5 to 10 minutes. There this article is no downside to applying a verified partner code with a regulated broker. Your trading conditions remain identical. You just start with free capital in your account. Do not leave bonus funds on the table if all it takes is typing a code at sign-up.