Understanding Partner Codes for Forex Brokers
If you've ever registered with a forex broker, you have probably come across a box asking for a partner code. A lot of people leave it blank. That is a missed opportunity, because using the right code can get you a deposit bonus of hundreds or even thousands in free cash.
A broker partner code is really just a promotional code that you enter during registration. Once you place your first deposit, the broker gives you extra money in your trading account. The commissions are not affected. You just have more capital to trade with.
How to Get Working Partner Codes for Brokers
Not all codes you come across on the internet are still active. Many broker partner codes posted online are outdated. Some website owner lists a code when it is new and then never checks it again. Months later the offer has been discontinued but the post is still live.
That is the reason dedicated code sites matter. Sites that regularly test their codes before listing them spare you considerable hassle. Look for a site that verifies codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses On Offer Using a Partner Code
The most common type is the deposit match. You put in a set amount and the broker matches a percentage on top. A few brokers match up to 100 %, which basically doubles your starting money.
There are also sign-up bonuses — a small amount, often somewhere between 10 to 50 dollars, just for opening an account. No deposit required.
Practically speaking, certain established brokers currently run welcome bonuses of thousands of in extra trading capital. That is actual funds you can use from day one.
Things to Watch Out For Before Using a Broker Partner Code
The standard term is a lot requirement. You have to trade a certain number of lots before the discover more extra money become available for withdrawal. This is normal practice and should not worry you.
Also look at whether the bonus has an expiry date, and what happens if you cash out your original deposit before hitting the volume requirement. Many brokers will void the bonus if you do this.
Steps to Apply a Broker Partner Code
The procedure is fairly easy. Find a verified partner code from a trusted directory. Head to your preferred broker's sign-up page. Enter your information as normal. Enter the partner code in the partner code box. Complete your sign-up and make your opening deposit. The bonus will be added automatically.
The entire thing should take roughly five to ten minutes. There is no disadvantage to applying a verified partner code with a reputable broker. The fees do not change. You just start with bonus capital in your account. Do not miss bonus capital going to waste when all it requires is typing a code at sign-up.