If you have ever registered with a forex broker, you may have seen a field requesting a partner code. A lot of people ignore it completely. That is a mistake, because applying the correct code gives you a sign-up bonus of hundreds or even thousands in extra funds.
A broker partner code is essentially a promo code that you type in during registration. After you place your opening deposit, the broker credits bonus funds into your live account. Your fees are not affected. You just start with more money to start with.
How to Source Valid Partner Codes for Brokers
Not every additional information codes you see through Google are valid. Most broker partner codes floating around online are expired. Some website owner publishes a code when it is first released and then never checks it again. Six months later the code has been discontinued but the post is still ranking in Google.
This is why curated directories matter. Resources that regularly check their codes before listing them save you a lot of frustration. Use a site that checks codes on a regular basis, not just when they first go up.
Different Bonuses On Offer With a Partner Code
The most common type is the matching bonus. You fund with a minimum amount and the broker matches a percentage on top. Some brokers match up to 100 percent, which basically doubles your initial capital.
There are also free bonuses — a modest amount, usually around 10 to 50 dollars, just for opening an account. No deposit required.
In real terms, several major brokers right now have sign-up bonuses of several thousand in extra trading capital. That is actual funds you can use from day one.
Things to Be Aware Of Before Applying a Broker Partner Code
The main condition is a turnover requirement. You need to execute a certain number of lots before the bonus become yours to keep. This is entirely typical across the industry and should not put you off.
Also check whether the bonus has an validity window, and what happens if you cash out your original deposit prior to meeting the trading threshold. Many brokers will forfeit 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 trusted site. Head to your preferred broker's sign-up page. Fill in your details as usual. Paste the partner code in the promotional code field. Submit your registration and place your initial deposit. The bonus should be added on its own.
The entire process takes roughly 5 to 10 minutes. There is no disadvantage to using a verified partner code with a licensed broker. Your spreads remain identical. You just start with free money in your account. There is no reason to leave free funds on the table when all it requires is pasting a code during sign-up.