If you've ever opened an account with a forex broker, you have probably seen a field requesting a partner code. Many new traders leave it blank. That is a missed opportunity, because using the correct code unlocks a deposit bonus of real money in bonus cash.
A broker partner code is really just a promo code that you type in during registration. After you make your opening deposit, the broker credits bonus funds into your trading account. The commissions do not change. You just get additional money to work with.
Where to Source Verified Partner Codes for Brokers
Not every codes you see through Google are still active. Most broker partner codes posted online are dead. Someone posts a code when it is new and then forgets about it. Six months later the code has expired but the page is still up.
This is why dedicated verification sites matter. Directories that actively verify their codes prior to listing them spare you a lot of wasted time. Find a site that verifies codes on an ongoing basis, not just when they first go up.
Different Bonuses Available Through a Partner Code
By far the most popular type is the matching bonus. You put in a minimum amount and the broker adds a percentage on top. A few brokers match up to 100 percent, which basically doubles your opening funds.
There are also no-deposit bonuses — a modest amount, often somewhere between ten and fifty dollars, just for creating an account. No deposit necessary.
In real terms, certain established brokers right now offer sign-up bonuses worth several thousand in bonus funds. That is actual funds you can use from day one.
What to Watch Out For Before Using a Broker Partner Code
The main condition is a lot requirement. You have to execute a specified number of lots before the bonus are made withdrawable. This is common broker partner codes across the industry and should not worry you.
Also verify if the bonus has an time limit, and what happens if you withdraw your initial deposit prior to hitting the volume threshold. Most brokers will void the bonus if you do this.
How to Activate a Broker Partner Code
The process is quite easy. Source a working partner code from a trusted source. Go to your preferred broker's registration page. Complete your details as usual. Enter the partner code in the promo code field. Submit your sign-up and complete your initial deposit. The bonus should be applied on its own.
The whole thing should take about 5 to 10 minutes. There is no downside to applying a working partner code with a reputable broker. The spreads remain identical. You just start with bonus capital in your account. There is no reason to skip bonus money on the table when all it takes is typing a code at sign-up.