If you've ever registered with a forex broker, you might have noticed a field asking for a partner code. Many traders ignore it completely. That is a mistake, because entering the right code gives you a sign-up bonus worth a significant amount in free trading capital.
A broker partner code is really just a promotional code that you enter during sign-up. Once you make your opening deposit, the broker credits additional capital in your live account. The spreads do not change. You just start with additional funds to work with.
How to Get Active Partner Codes for Brokers
Very few of the codes you see through Google are valid. Many broker partner codes floating around online are dead. A blogger posts a code when it is first released and then moves on. Months later the promotion has been discontinued but the article is still up.
This is why dedicated code sites are worth using. Sites that actively verify their codes prior to publishing them spare you real wasted time. Use a source that tests codes on a regular basis, not just once when they are first posted.
Different Bonuses You Can Get Through a the original source Partner Code
By far the most popular type is the percentage match. You fund with a set amount and the broker matches a percentage on top. A few brokers match up to 100 %, which basically doubles your initial funds.
Some brokers offer free bonuses — a small amount, typically somewhere between ten and fifty dollars, just for registering an account. No deposit necessary.
To put this in perspective, some established brokers right now run sign-up bonuses of several thousand in bonus funds. That is actual money you can put to work from day one.
Things to Watch Out For Before Entering a Broker Partner Code
The standard condition is a lot requirement. You must trade a minimum amount of trades before the bonus funds become yours to keep. This is standard in the forex world and should not scare you.
Additionally check whether the bonus has an validity window, and what happens if you withdraw your initial deposit before meeting the volume requirement. Many brokers will void the bonus if you do this.
Steps to Activate a Broker Partner Code
The procedure is quite simple. Source a working partner code from a reliable site. Go to your chosen broker's registration page. Complete your details as usual. Enter the partner code in the promo code field. Complete your registration and complete your initial deposit. The bonus should be credited straight away.
The whole thing should take about a few minutes. No negative to entering a working partner code with a reputable broker. The trading conditions do not change. You just receive additional funds in your account. There is no reason to skip extra money on the table when all it requires is entering a code at registration.