If you've ever signed up for a forex broker, you might have noticed a field requesting a partner code. A lot of new traders leave it blank. That is a bad move, because entering the right code can get you a welcome bonus worth real money in bonus cash.
A broker partner code is essentially a promo code that you type in during account opening. After you make your initial deposit, the broker gives you additional capital in your trading account. Your spreads are not affected. You just get extra funds to trade with.
How to Source Active Partner Codes for Brokers
Not all codes you come across on the internet are still active. Most broker partner codes floating around online are expired. A blogger posts a code when it is new and then moves on. Months later the code has expired but the page is still live.
This is why dedicated directories are valuable. Directories that regularly check their codes before publishing them save you real frustration. Look for a site that checks codes on an ongoing basis, not just when they first go up.
Different Bonuses Available With a Partner Code
By far the most popular type is the matching bonus. You put in a minimum amount and the broker credits a percentage on top. Certain brokers match up to 100 %, which basically doubles your initial funds.
There are also free bonuses — a token amount, often somewhere between 10 to 50 dollars, just for registering an account. No deposit required.
In real terms, several established brokers currently run welcome bonuses of thousands of dollars. That is genuine money you can trade with from day one.
What to Watch Out For Before Using a Broker Partner Code
The standard requirement is a trading volume requirement. You need to complete a certain volume before the bonus funds become yours to keep. This is normal practice and should not put you off.
Also look at whether the bonus has an time limit, and what happens if you pull out your initial deposit prior to reaching the trading target. Most brokers will forfeit the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is fairly easy. Get a verified partner code from a reputable directory. Go to your chosen broker's sign-up page. Fill in your details as usual. Type the partner code in the partner code box. Finish your registration view more information and place your opening deposit. The bonus will be applied straight away.
The entire process takes maybe a few minutes. No negative to entering a valid partner code with a regulated broker. The trading conditions remain identical. You just get free money in your account. There is no reason to miss free funds on the table if all it requires is typing a code at sign-up.