If you have ever opened an account with a forex broker, you may have come across a box asking for a partner code. Many traders leave it blank. That is a mistake, because entering the correct code gives you a deposit bonus worth hundreds or even thousands in bonus money.
A broker partner code is really just a referral code that you input during sign-up. After you complete your initial deposit, the broker credits extra money in your trading account. Your commissions stay the same. You just start with additional money to work with.
Where to Source Verified Partner Codes for Brokers
Very few of the codes you see on the internet are valid. Most broker partner codes posted online are no longer active. A blogger lists a code when it is new and then forgets about it. Months later the offer has been discontinued but the post is still up.
This is why dedicated code sites are worth using. Resources that actually verify their codes prior to publishing them save you considerable frustration. Find a site that verifies codes on an ongoing basis, not just when they first go up.
Types of Bonuses On Offer Using a Partner Code
By far the most popular type is the matching bonus. You put in a set amount and the broker matches a percentage on top. Some brokers match up to 100 %, which effectively doubles your opening money.
There are also free bonuses — a token amount, usually somewhere between 10 to 50 dollars, just for registering an account. No deposit needed.
Practically speaking, certain well-known brokers currently have welcome bonuses of several thousand dollars. That is actual capital you can put to work from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The standard term is a trading volume requirement. You must trade a minimum amount of trades before the bonus funds are made available for withdrawal. This is common across the industry and does not need to scare you.
Also check if the bonus has an expiry date, and what happens if you withdraw your original deposit before meeting the trading threshold. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
The process is quite easy. Get a verified partner code from a reliable source. Go to your preferred broker's sign-up page. Complete your information as normal. Paste the partner code in the promotional code field. Complete your registration and complete your first deposit. The bonus should be applied on its own.
The whole process should take roughly 5 to 10 minutes. No downside to using a valid partner code with a licensed broker. The fees remain identical. You just receive bonus funds broker partner code in your account. Do not skip bonus capital on the table if all it takes is entering a code at sign-up.