If you have ever opened an account with a forex broker, you have probably seen a box requesting a partner code. Most new traders ignore it completely. That is a missed opportunity, because entering the correct code can get you a sign-up bonus of a significant amount in extra cash.
A broker partner code is really just a promotional code that you input during account opening. After you complete your opening deposit, the broker credits bonus funds into your live account. The commissions do not change. You just start with more funds to work with.
How to Get Working Partner Codes for Brokers
Not every codes you see on the internet are still active. Most broker partner codes shared online are expired. A blogger posts a code when it is first released and then never checks it again. Six months later the offer has ended but the page is still live.
That is the reason dedicated code sites are worth using. Directories that actually test their codes before publishing them spare you real hassle. Find a site that checks codes on a regular basis, not just once when they are first posted.
Types of Bonuses You Can Get With a Partner Code
The standard type is the matching bonus. You fund with a set amount and the broker credits a percentage on top. Certain brokers match up to 100 %, which practically doubles your starting funds.
Some brokers offer sign-up bonuses — a modest amount, typically somewhere between ten and fifty dollars, just for registering an account. No deposit required.
Practically speaking, some established brokers currently have sign-up bonuses up to several thousand in bonus funds. That is real capital you can put to work from day one.
What to Watch Out For Before Using a Broker Partner Code
The most common requirement is a trading volume requirement. You have to execute a minimum number of lots before the bonus are made yours to keep. This is common in the forex world and should not worry you.
Also look at whether the bonus has an expiry date, and what happens if you pull out your original deposit before hitting the trading requirement. Most brokers will forfeit the bonus if you do this.
Steps to Activate a Broker Partner Code
The procedure is quite easy. Find a active partner code from a reputable site. Visit your selected broker's sign-up page. Fill in your details as normal. Type the partner code in the promo code box. Complete your sign-up and complete your opening deposit. The bonus should be added automatically.
The entire thing should take maybe 5 to 10 minutes. There is no disadvantage to entering a working partner code with a regulated broker. The trading conditions remain identical. You just receive extra capital in your account. There is no reason to leave extra capital going to the full report waste if all it requires is entering a code at sign-up.