If you've ever opened an account with a trading broker, you have probably come across a field requesting a partner code. A lot of people skip right past it. That is a bad move, because using the correct code gives you a sign-up bonus of a significant amount in extra cash.
A broker partner code is basically a referral code that you type in during account opening. Once you complete your initial deposit, the broker gives you extra money into your live account. The trading conditions are not affected. You just get extra money to start with.
How to Source Verified Partner Codes for Brokers
Very few of the codes you come across through Google are still active. Many broker partner codes floating around online are expired. A blogger publishes a code when it is first released and then moves on. Weeks later the promotion has been discontinued but the post is still live.
That is the reason specialised code sites are worth using. Sites that actively verify their codes prior to listing them save you a lot of hassle. Find a directory that tests codes on a regular basis, not just once when they are first posted.
Different Bonuses You Can Get With a Partner Code
By far the most popular type is the matching bonus. You fund with a certain amount and the broker credits a portion on top. A few brokers offer up to 100 %, which practically doubles your opening funds.
There are also no-deposit bonuses — a small amount, typically around ten and fifty dollars, just for creating an account. No deposit required.
Practically speaking, several major brokers currently offer sign-up bonuses worth several thousand in bonus funds. That is actual capital you can put to work from day one.
What to Be Aware Of Before Using a Broker Partner Code
The standard requirement is a turnover requirement. You have to trade a specified number of lots before the extra money become withdrawable. This is standard in the forex world and does not need to put you off.
Additionally check whether the bonus has an expiry date, and what happens if you cash out your initial deposit before meeting the trading threshold. Many brokers will forfeit the bonus if you do this.
How to Use a Broker Partner Code
This process is quite straightforward. Get a verified partner code from a reputable source. Go to your chosen broker's registration page. read this article Enter your details as normal. Paste the partner code in the promo code box. Finish your registration and complete your first deposit. The bonus gets credited straight away.
The entire thing takes about five to ten minutes. There is no downside to applying a verified partner code with a licensed broker. The trading conditions stay the same. You just receive bonus capital in your account. There is no reason to leave extra capital going to waste if all it requires is typing a code during sign-up.