Understanding Partner Codes for Online Brokers
If you've ever registered with a forex broker, you may have noticed a box asking for a partner code. Most traders ignore it completely. That is a missed opportunity, because using the correct code gives you a sign-up bonus worth real money in bonus trading capital.
A broker partner code is really just more info a referral code that you enter during account opening. Once you place your opening deposit, the broker credits extra money into your trading account. The commissions remain unchanged. You just receive extra capital to start with.
How to Find Valid Partner Codes for Brokers
Not every codes you come across online are still active. Many broker partner codes floating around online are expired. A blogger publishes a code when it is new and then forgets about it. Months later the promotion has been discontinued but the post is still up.
That is the reason curated verification sites are valuable. Sites that actively check their codes prior to listing them spare you a lot of frustration. Find a source that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses You Can Get Using a Partner Code
By far the most popular type is the percentage match. You fund with a certain amount and the broker matches a portion on top. Certain brokers offer up to 100 percent, which effectively doubles your initial money.
Some brokers offer no-deposit bonuses — a modest amount, often around 10 to 50 dollars, just for registering an account. No deposit needed.
To put this in perspective, certain well-known brokers right now offer welcome bonuses of thousands of in extra trading capital. That is real funds you can use from day one.
What to Be Aware Of Before Entering a Broker Partner Code
The standard requirement is a lot requirement. You need to execute a certain number of lots before the bonus funds become available for withdrawal. This is entirely typical in the forex world and should not worry you.
Additionally check if the bonus has an validity window, and what happens if you pull out your original deposit prior to hitting the volume target. Many brokers will cancel the bonus if you do this.
How to Apply a Broker Partner Code
The procedure is pretty simple. Get a active partner code from a reputable site. Visit your selected broker's registration page. Fill in your details as normal. Paste the partner code in the promotional code field. Submit your registration and make your opening deposit. The bonus will be applied on its own.
The whole thing should take about five to ten minutes. There is no disadvantage to entering a verified partner code with a reputable broker. The spreads remain identical. You just start with additional funds in your account. There is no reason to skip bonus capital going to waste if all it takes is typing a code at sign-up.