If you've ever signed up for a forex broker, you have probably come across a box requesting a partner code. Most new traders skip right past it. That is a bad move, because entering the correct code gives you a welcome bonus worth real money in free money.
A broker partner code is essentially a referral code that you enter during sign-up. After you place your initial deposit, the broker gives you additional capital into your live account. The fees do not change. You just get additional funds to trade with.
How to Source Active Partner Codes for Brokers
Not all codes you come across on the internet actually work. A lot of broker partner codes shared online are outdated. Some website owner lists a code when it is new and then moves on. Six months later the promotion has ended but the post is still ranking in Google.
That is the reason curated code sites matter. Sites that actually check their codes prior to listing them spare you real frustration. Look for a site that verifies codes on a regular basis, not just when they first go up.
Different Bonuses You Can Get With a Partner Code
By far the most popular type is the deposit match. You fund with a minimum amount and the broker credits a portion on top. A few brokers match up to 100 percent, which effectively doubles other info your initial money.
There are also sign-up bonuses — a token amount, usually around 10 to 50 dollars, just for registering an account. No deposit needed.
In real terms, certain well-known brokers currently run sign-up bonuses up to thousands of dollars. That is real capital you can trade with from day one.
Things to Know Before Applying a Broker Partner Code
The most common term is a lot requirement. You have to trade a minimum number of lots before the bonus funds become yours to keep. This is entirely typical across the industry and should not put you off.
Additionally look at whether the bonus has an expiry date, and what happens if you withdraw your initial deposit prior to reaching the volume requirement. Many brokers will void the bonus if you do this.
How to Apply a Broker Partner Code
This procedure is fairly simple. Find a verified partner code from a trusted site. Head to your preferred broker's registration page. Complete your information as usual. Paste the partner code in the promo code box. Submit your sign-up and complete your opening deposit. The bonus will be added on its own.
The entire thing takes about five to ten minutes. No disadvantage to entering a valid partner code with a regulated broker. Your trading conditions stay the same. You just start with free capital in your account. There is no reason to miss extra money on the table when all it takes is typing a code at sign-up.