Understanding Partner Codes for Online Brokers
If you have ever opened an account with a forex broker, you have probably seen a field requesting a partner code. A lot of traders ignore it completely. That is a bad move, because using the correct code gives you a welcome bonus of hundreds or even thousands in free cash.
A broker partner code is basically a promo code that you type in during account opening. After you complete your opening deposit, the broker gives you additional capital into your trading account. Your spreads remain unchanged. You just get more money to work with.
Where to Find Active Partner Codes for Brokers
Very few of the codes you see online are still active. Many broker partner codes shared online are dead. Someone lists a code when it is first released and then moves on. Months later the code has expired but the post is still ranking in Google.
This is why dedicated verification sites are valuable. Sites that actively check their codes prior to listing them save you considerable wasted time. Use a directory that checks codes on an ongoing basis, not just once when they are first posted.
Different Bonuses Available Through a Partner Code
The standard type is the deposit match. You fund with a set amount and the broker adds a percentage on top. Certain brokers match up to 100 percent, which effectively doubles your opening funds.
Some brokers offer sign-up bonuses — a token amount, typically somewhere between ten and fifty dollars, just for opening an account. No deposit required.
In real terms, some major brokers right now have welcome bonuses up to thousands of in bonus funds. That is genuine funds you can trade with from day one.
Things to Know Before Using a Broker Partner Code
The standard requirement is a turnover requirement. You have to trade a minimum number of lots before the extra money are made available for withdrawal. This is entirely typical in the forex world and does not need to scare you.
Additionally check if the bonus has an validity window, and what happens if you pull out your original deposit before meeting the trading requirement. Many brokers will void the bonus main page if you do this.
How to Use a Broker Partner Code
The process is pretty simple. Get a verified partner code from a trusted directory. Go to your selected broker's registration page. Fill in your information as usual. Paste the partner code in the promo code field. Finish your sign-up and make your first deposit. The bonus should be applied straight away.
The entire thing should take roughly five to ten minutes. No downside to applying a verified partner code with a reputable broker. The spreads remain identical. You just receive bonus money in your account. There is no reason to skip bonus funds on the table when all it takes is entering a code during sign-up.