If you have ever opened an account with a forex broker, you may have seen a box asking for a partner code. A lot of people ignore it completely. That is a bad move, because entering the right code gives you a welcome bonus worth hundreds or even thousands in additional funds.
A broker partner code is really just a referral code recommended site that you input during sign-up. Once you make your opening deposit, the broker gives you additional capital in your trading account. Your commissions are not affected. You just start with extra capital to start with.
Where to Find Verified Partner Codes for Brokers
Not every codes you come across online are still active. A lot of broker partner codes floating around online are no longer active. Someone lists a code when it is new and then moves on. Months later the promotion has been discontinued but the article is still live.
This is why specialised code sites are worth using. Sites that actively check their codes prior to listing them spare you real hassle. Look for a source that checks codes on an ongoing basis, not just when they first go up.
Different Bonuses You Can Get Through a Partner Code
The most common type is the matching bonus. You fund with a set amount and the broker credits a percentage on top. Some brokers match up to 100 percent, which basically doubles your starting money.
Some brokers offer no-deposit bonuses — a small amount, often somewhere between 10 to 50 dollars, just for opening an account. No deposit needed.
To put this in perspective, certain major brokers right now run welcome bonuses worth several thousand dollars. That is genuine capital you can put to work from day one.
Things to Know Before Using a Broker Partner Code
The main requirement is a lot requirement. You have to complete a specified amount of trades before the extra money are made withdrawable. This is common practice and does not need to put you off.
Also look at if the bonus has an validity window, and what happens if you withdraw your original deposit prior to hitting the volume target. Many brokers will void the bonus if you do this.
How to Activate a Broker Partner Code
This process is fairly easy. Get a verified partner code from a trusted directory. Go to your preferred broker's sign-up page. Enter your details as usual. Type the partner code in the promo code field. Complete your registration and place your initial deposit. The bonus should be applied automatically.
The whole process should take maybe five to ten minutes. No disadvantage to entering a valid partner code with a licensed broker. Your fees stay the same. You just get extra capital in your account. There is no reason to skip extra money going to waste when all it takes is typing a code at sign-up.