If you've ever signed up for a forex broker, you have probably noticed a field asking for a partner code. Many traders leave it blank. That is a mistake, because using the correct code gives you a deposit bonus worth hundreds or even thousands in extra funds.
A broker partner code is really just a referral code that you type in during account opening. Once you place your first deposit, the broker gives you bonus funds into your trading account. The trading conditions are not affected. You just start with additional money to work with.
Where to Source Verified Partner Codes for Brokers
Very few of the codes you see online are valid. Most broker partner codes shared online are expired. A blogger posts a code when it is first released and then moves on. Six months later the offer has ended but the page is still ranking in Google.
That is the reason curated verification sites matter. Sites that actively test their codes before publishing them save you a lot of wasted time. Find a site that verifies codes on an ongoing basis, not just once when they are first posted.
Different Bonuses You Can Get Through a Partner Code
The most common type is the matching bonus. You fund with a minimum amount and the broker adds a percentage on top. A few brokers offer up to 100 %, which basically doubles your starting capital.
There are also sign-up bonuses — a modest recommended reading amount, typically around ten and fifty dollars, just for registering an account. No deposit necessary.
To put this in perspective, certain major brokers currently run welcome bonuses worth thousands of dollars. That is actual funds you can put to work from day one.
What to Know Before Entering a Broker Partner Code
The most common condition is a lot requirement. You need to execute a minimum amount of trades before the extra money are made available for withdrawal. This is common practice and does not need to put you off.
Also verify whether the bonus has an time limit, and what happens if you cash out your initial deposit before meeting the trading requirement. Many brokers will void the bonus if you do this.
How to Use a Broker Partner Code
This procedure is quite easy. Source a working partner code from a reliable site. Head to your preferred broker's sign-up page. Fill in your details as normal. Type the partner code in the promo code field. Complete your sign-up and place your initial deposit. The bonus gets applied automatically.
The entire thing takes about five to ten minutes. No negative to applying a valid partner code with a regulated broker. The fees do not change. You just receive bonus capital in your account. There is no reason to leave free money on the table when all it requires is pasting a code during sign-up.