If you've ever signed up for a forex broker, you may have seen a field asking for a partner code. Most traders skip right past it. That is a mistake, because entering the right code gives you a deposit bonus worth hundreds or even thousands in extra cash.
A broker partner code is really just a promo code that you enter during registration. Once you complete your opening deposit, the broker credits bonus funds in your live account. Your spreads are not affected. You just have more funds to work with.
How to Get Valid Partner Codes for Brokers
Very get more info few of the codes you see through Google are still active. A lot of broker partner codes shared online are dead. Some website owner publishes a code when it is first released and then forgets about it. Weeks later the promotion has expired but the post is still ranking in Google.
This is why dedicated verification sites are worth using. Resources that actually test their codes prior to listing them spare you real frustration. Find a site that verifies codes on an ongoing basis, not just when they first go up.
Types of Bonuses Available Through a Partner Code
By far the most popular type is the deposit match. You put in a minimum amount and the broker matches a portion on top. A few brokers match up to 100 percent, which basically doubles your starting funds.
Some brokers offer sign-up bonuses — a token amount, often somewhere between ten and fifty dollars, just for opening an account. No deposit necessary.
To put this in perspective, certain established brokers right now offer sign-up bonuses up to thousands of in extra trading capital. That is real funds you can use from day one.
Things to Know Before Applying a Broker Partner Code
The most common term is a trading volume requirement. You must execute a certain amount of trades before the bonus are made withdrawable. This is entirely typical in the forex world and should not put you off.
Additionally check whether the bonus has an time limit, and what happens if you cash out your initial deposit before meeting the volume threshold. Many brokers will void the bonus if you do this.
How to Use a Broker Partner Code
The procedure is pretty simple. Find a working partner code from a reputable site. Visit your preferred broker's registration page. Enter your details as normal. Enter the partner code in the promo code box. Complete your registration and make your opening deposit. The bonus should be credited automatically.
The entire process takes roughly 5 to 10 minutes. No downside to applying a working partner code with a reputable broker. The fees do not change. You just receive bonus capital in your account. There is no reason to miss extra money going to waste if all it takes is typing a code at sign-up.