How to Use Partner Codes for Online Trading
If you've ever registered with a forex broker, you may have come across a box asking for a partner code. A lot of traders ignore it completely. That is a mistake, because entering the right code gives you a welcome bonus worth hundreds or even thousands in free funds.
A broker partner code is really just a promo code that you enter during account opening. After you place your first deposit, the broker gives you extra money in your live account. The spreads remain unchanged. You just get extra capital to trade with.
How to Get Active Partner Codes for Brokers
Not all codes you find online are still active. Most broker partner codes shared online are dead. Someone publishes a code when it is first released and then forgets about it. Weeks later the code has been discontinued but the page is still up.
This is why specialised verification sites are worth using. Directories that regularly verify their codes before listing them save you real hassle. Look for a site that tests codes on a regular basis, not just once when they are first posted.
Different Bonuses On Offer Using a Partner Code
The standard type is the deposit match. You put in a set amount and the broker matches a portion on top. A few brokers match up to 100 %, which effectively doubles your opening capital.
Some brokers offer sign-up bonuses — a small amount, often around ten and fifty dollars, just for registering an account. No deposit required.
In real terms, certain established brokers right now offer welcome bonuses up to thousands of in extra trading capital. That is genuine capital you can trade with from day one.
Things to Be Aware Of Before Entering a Broker Partner Code
The most common requirement is a lot requirement. You need to execute a minimum number of lots before the bonus funds are made available for withdrawal. This is common in article the forex world and should not scare you.
Also check whether the bonus has an validity window, and what happens if you cash out your original deposit before reaching the trading threshold. Most brokers will forfeit the bonus if you do this.
How to Apply a Broker Partner Code
The process is pretty easy. Get a active partner code from a trusted source. Go to your preferred broker's registration page. Fill in your information as usual. Type the partner code in the promotional code box. Complete your registration and complete your initial deposit. The bonus should be applied straight away.
The entire thing should take roughly five to ten minutes. No disadvantage to using a working partner code with a licensed broker. Your spreads do not change. You just get bonus capital in your account. There is no reason to leave bonus money unclaimed if all it requires is entering a code during registration.