If you have ever registered with a trading broker, you have probably come across a field asking for a partner code. Many new traders leave it blank. That is a bad move, because applying the right code gives you a welcome bonus of a significant amount in additional cash.
A broker partner code is really just a referral code that you type in during registration. Once you make your opening deposit, the broker gives you bonus funds in your trading account. Your spreads are not affected. You just receive extra capital to trade with.
Where to Get Working Partner Codes for Brokers
Not all codes you see on the internet are valid. Most broker partner codes posted online are no longer active. Someone posts a code when it is new and then moves on. Six months later the promotion has expired but the page is still up.
This is why dedicated verification sites are valuable. Sites that actively test their codes before publishing them spare you real wasted time. Use a source that checks codes on a regular basis, not just once when they are first posted.
Different Bonuses You Can Get Using a Partner Code
By far the most popular type is the deposit match. You fund with a set amount and the broker adds a portion on top. A few brokers match up to 100 %, which effectively doubles your initial capital.
Some brokers offer no-deposit bonuses — a token amount, often somewhere between ten and fifty dollars, just for opening an account. No deposit necessary.
Practically speaking, several another source major brokers right now offer welcome bonuses up to thousands of in bonus funds. That is real funds you can use from day one.
What to Be Aware Of Before Applying a Broker Partner Code
The most common term is a trading volume requirement. You need to complete a specified number of lots before the extra money are made yours to keep. This is normal in the forex world and does not need to scare you.
Also check whether the bonus has an validity window, and what happens if you pull out your initial deposit prior to hitting the trading target. Many brokers will void the bonus if you do this.
How to Activate a Broker Partner Code
This procedure is fairly easy. Find a active partner code from a trusted directory. Head to your chosen broker's sign-up page. Complete your information as normal. Enter the partner code in the partner code field. Submit your sign-up and complete your opening deposit. The bonus should be credited straight away.
The entire thing should take roughly 5 to 10 minutes. There is no disadvantage to entering a verified partner code with a reputable broker. Your fees do not change. You just get free funds in your account. Do not skip free money unclaimed when all it requires is typing a code during sign-up.