If you've ever registered with a forex broker, you may have come across a field asking for a partner code. Most people ignore it completely. That is a mistake, because applying the right code gives you a welcome bonus of a significant amount in extra money.
A broker partner code is really just a promotional code that you type in during account opening. After you make your opening deposit, the broker adds additional capital in your trading account. Your spreads remain unchanged. You just get more funds to trade with.
Where to Get Working Partner Codes for Brokers
Very few of the codes you find on the internet actually work. Most broker partner codes floating around online are dead. A blogger lists a code when it is new and then never checks it again. Six months later the offer has ended but the post is still live.
This is why dedicated verification sites are valuable. Directories that actually test their codes before listing them spare you considerable frustration. Find a source that tests codes on a regular basis, not just once when they are first posted.
Types of Bonuses On Offer Through a Partner Code
The standard type is the percentage match. You fund with a certain amount and the broker matches a portion on top. A few brokers match up to 100 %, which basically doubles your opening money.
There are also free bonuses — a small amount, typically somewhere between 10 to 50 dollars, just for opening an account. No deposit necessary.
To put this in perspective, some established brokers right now offer welcome bonuses of thousands of dollars. That is actual funds you can use from day one.
Things to Know Before Using a Broker Partner Code
The most common condition is a turnover requirement. You need to complete a minimum volume before the bonus are made withdrawable. This is common across the industry and should not worry you.
Also look at whether the bonus has an time limit, and what happens if you cash out your original deposit prior to meeting the volume threshold. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is quite easy. Find a working partner code from a reliable site. Head to your selected broker's sign-up page. Fill in your information as usual. Paste the partner code in the promo code box. Complete your registration and complete your initial deposit. The more info bonus gets credited on its own.
The whole process takes maybe a few minutes. No disadvantage to entering a working partner code with a reputable broker. The spreads remain identical. You just get free money in your account. Do not miss free capital on the table when all it requires is pasting a code during sign-up.