If you have ever opened an account with a forex broker, you may have noticed a box requesting a partner code. Most new traders ignore it completely. That is a bad move, because entering the right code gives you a sign-up bonus worth real money in additional trading capital.
A broker partner code is basically a promo code that you input during sign-up. Once you place your first deposit, the broker adds bonus funds into your live account. The commissions do not change. You just have additional capital to start with.
Where to Source Verified Partner Codes for Brokers
Not all codes you see online are still active. Many broker partner codes posted online are no longer active. A blogger posts a code when it is new and then never checks it again. Weeks later the promotion has ended but the post is still ranking in Google.
This is why dedicated verification sites are worth using. Resources that regularly verify their codes before publishing check this out them save you a lot of wasted time. Find a source that tests codes on a regular basis, not just when they first go up.
Types of Bonuses On Offer Through a Partner Code
The standard type is the percentage match. You put in a set amount and the broker matches a percentage on top. Some brokers match up to 100 percent, which basically doubles your initial money.
There are also free bonuses — a token amount, usually somewhere between ten and fifty dollars, just for registering an account. No deposit required.
Practically speaking, certain established brokers right now offer welcome bonuses up to several thousand in bonus funds. That is genuine capital you can put to work from day one.
What to Watch Out For Before Entering a Broker Partner Code
The standard requirement is a lot requirement. You must trade a certain number of lots before the extra money become withdrawable. This is standard in the forex world and does not need to scare you.
Also verify if the bonus has an validity window, and what happens if you cash out your initial deposit before meeting the volume requirement. Most brokers will void the bonus if you do this.
How to Use a Broker Partner Code
The procedure is fairly straightforward. Find a verified partner code from a trusted directory. Go to your selected broker's registration page. Fill in your details as normal. Paste the partner code in the promotional code box. Finish your sign-up and make your first deposit. The bonus gets credited automatically.
The entire thing should take roughly five to ten minutes. There is no downside to using a verified partner code with a regulated broker. Your fees stay the same. You just start with additional funds in your account. There is no reason to leave extra money unclaimed when all it takes is entering a code at registration.