How to Use Partner Codes for Forex Brokers
If you have ever registered with a forex broker, you might have come across a box requesting a partner code. Most traders ignore it completely. That is a mistake, read more because using the right code unlocks a sign-up bonus worth a significant amount in additional money.
A broker partner code is really just a promotional code that you input during registration. After you complete your opening deposit, the broker adds bonus funds in your live account. The fees stay the same. You just have extra capital to trade with.
Where to Find Working Partner Codes for Brokers
Very few of the codes you see on the internet are valid. Most broker partner codes shared online are no longer active. A blogger lists a code when it is new and then moves on. Six months later the code has expired but the page is still up.
That is the reason specialised code sites are worth using. Directories that actually check their codes prior to listing them save you considerable frustration. Look for a site that verifies codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses Available With a Partner Code
The most common type is the deposit match. You deposit a set amount and the broker adds a percentage on top. Certain brokers match up to 100 percent, which effectively doubles your initial capital.
There are also free bonuses — a small amount, usually around 10 to 50 dollars, just for creating an account. No deposit necessary.
To put this in perspective, several well-known brokers currently offer welcome bonuses worth thousands of dollars. That is real money you can trade with from day one.
What to Know Before Entering a Broker Partner Code
The main term is a turnover requirement. You must trade a specified amount of trades before the extra money are made yours to keep. This is standard in the forex world and should not put you off.
Additionally verify whether the bonus has an time limit, and what happens if you pull out your original deposit prior to meeting the trading requirement. Most brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
This procedure is pretty simple. Source a working partner code from a reputable site. Visit your preferred broker's sign-up page. Enter your details as usual. Paste the partner code in the promo code box. Complete your registration and place your initial deposit. The bonus gets added automatically.
The entire process takes about five to ten minutes. There is no downside to applying a verified partner code with a licensed broker. Your fees do not change. You just get bonus funds in your account. There is no reason to leave bonus money unclaimed if all it requires is typing a code at registration.