If you've ever signed up for a forex broker, you might have come across a box asking for a partner code. Most traders leave it blank. That is a bad move, because using the correct code unlocks a deposit bonus of real money in additional trading capital.
A broker partner code is essentially a promotional code that you input during registration. After you complete your opening deposit, the broker adds additional capital into your trading account. The spreads are not affected. You just get extra funds to trade with.
How to Source Working Partner Codes for Brokers
Not all codes you find on the internet broker partner codes actually work. Most broker partner codes floating around online are no longer active. Some website owner lists a code when it is first released and then moves on. Six months later the promotion has expired but the article is still ranking in Google.
This is why specialised verification sites are worth using. Resources that regularly test their codes before publishing them save you real frustration. Use a site that verifies codes on an ongoing basis, not just when they first go up.
Types of Bonuses Available Using a Partner Code
By far the most popular type is the matching bonus. You put in a set amount and the broker credits a percentage on top. Certain brokers match up to 100 percent, which basically doubles your opening funds.
There are also no-deposit bonuses — a small amount, usually around 10 to 50 dollars, just for opening an account. No deposit necessary.
To put this in perspective, some established brokers right now run welcome bonuses worth several thousand in bonus funds. That is real money you can put to work from day one.
What to Know Before Entering a Broker Partner Code
The most common requirement is a lot requirement. You must trade a certain number of lots before the extra money become available for withdrawal. This is standard practice and should not worry you.
Also look at whether the bonus has an validity window, and what happens if you pull out your original deposit prior to reaching the volume target. Many brokers will cancel the bonus if you do this.
Steps to Activate a Broker Partner Code
The procedure is quite simple. Get a verified partner code from a reputable site. Go to your chosen broker's sign-up page. Fill in your details as usual. Type the partner code in the promotional code box. Complete your registration and make your first deposit. The bonus should be added straight away.
The entire process takes roughly a few minutes. No downside to using a verified partner code with a regulated broker. The spreads stay the same. You just start with bonus money in your account. Do not leave extra funds unclaimed if all it requires is pasting a code at registration.