How to Use Partner Codes for Online Brokers
If you have ever signed up for a forex broker, you may have come across a box asking for a partner code. A lot of traders skip right past it. That is a mistake, because entering the correct code can get you a sign-up bonus of real money in bonus money.
A broker partner code is basically a promotional code that you type in during sign-up. After you make your first deposit, the broker credits bonus funds into your trading account. Your spreads do not change. You just receive extra funds to start with.
How to Find Verified Partner Codes for Brokers
Not every codes you find on the internet actually work. Many broker partner codes posted online are no longer active. Some website owner lists a code when it is new and then forgets about it. Months later the code has been discontinued but the page is still up.
This is why curated directories are worth using. Directories that actively verify their codes prior to listing them spare you considerable frustration. Use a directory that tests codes on an ongoing basis, not just when they first go up.
Different Bonuses You Can Get 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 portion on top. Certain brokers match up to 100 percent, which practically doubles your opening money.
Some brokers offer no-deposit bonuses — a token amount, often somewhere between ten and fifty dollars, just for opening an account. No deposit needed.
In real terms, certain well-known brokers right now run sign-up bonuses of thousands of in extra trading capital. That is real funds you can put to work from day one.
Things to Know Before Entering a Broker Partner Code
The standard condition is a trading volume requirement. You must complete a specified volume before the extra money are made withdrawable. This is standard across the industry and does not need to put you off.
Additionally check whether the bonus has an expiry date, and what happens if you withdraw your original deposit before hitting the trading target. Many brokers will cancel the bonus if you do this.
Steps to Apply a Broker Partner Code
The process read full report is quite easy. Get a working partner code from a reputable directory. Go to your preferred broker's registration page. Enter your information as normal. Enter the partner code in the promo code field. Complete your sign-up and complete your initial deposit. The bonus gets applied on its own.
The entire process takes about a few minutes. No disadvantage to using a valid partner code with a reputable broker. The trading conditions stay the same. You just get extra funds in your account. There is no reason to skip free capital unclaimed if all it takes is typing a code during registration.