If you have ever registered with a blog trading broker, you might have come across a box asking for a partner code. Many new traders ignore it completely. That is a mistake, because applying the correct code can get you a sign-up bonus worth hundreds or even thousands in extra money.
A broker partner code is essentially a referral code that you input during sign-up. After you make your first deposit, the broker credits extra money in your trading account. The fees do not change. You just start with extra money to work with.
How to Get Valid Partner Codes for Brokers
Not every codes you come across through Google are valid. A lot of broker partner codes shared online are dead. A blogger posts a code when it is new and then moves on. Six months later the code has ended but the page is still up.
That is the reason specialised directories are worth using. Directories that regularly check their codes prior to listing them save you considerable frustration. Use a directory that verifies codes on a regular basis, not just once when they are first posted.
Different Bonuses Available With a Partner Code
The standard type is the matching bonus. You put in a minimum amount and the broker adds a percentage on top. Certain brokers offer up to 100 percent, which effectively doubles your starting capital.
There are also sign-up bonuses — a modest amount, usually around 10 to 50 dollars, just for creating an account. No deposit needed.
In real terms, some established brokers currently offer welcome bonuses worth several thousand in bonus funds. That is genuine funds you can use from day one.
Things to Know Before Entering a Broker Partner Code
The main condition is a turnover requirement. You have to execute a specified amount of trades before the bonus funds are made yours to keep. This is normal in the forex world and should not put you off.
Additionally check if the bonus has an validity window, and what happens if you withdraw your initial deposit prior to meeting the trading threshold. Most brokers will forfeit the bonus if you do this.
How to Apply a Broker Partner Code
The procedure is quite simple. Get a active partner code from a reliable source. Go to your selected broker's sign-up page. Fill in your details as usual. Type the partner code in the promo code box. Complete your sign-up and complete your opening deposit. The bonus will be added automatically.
The whole process takes maybe five to ten minutes. There is no downside to entering a verified partner code with a regulated broker. Your trading conditions do not change. You just receive free funds in your account. There is no reason to skip bonus funds unclaimed if all it takes is entering a code at registration.