A Guide to Partner Codes for Online Trading
If you've ever registered with a forex broker, you may have seen a box requesting a partner code. A lot of people skip right past it. That is a bad move, because applying the correct code can get you a welcome bonus of hundreds or even thousands in additional cash.
A broker partner code is really just a referral code that you enter during account opening. After you make your initial deposit, the broker adds extra money into your trading account. Your commissions are not affected. You just get more money to work with.
How to Get Working Partner Codes for Brokers
Not every codes you see through Google actually work. Most broker partner codes floating around online are dead. Some website owner lists a code when it is new and then forgets about it. Months later the promotion has been discontinued but the page is still up.
That is the reason curated directories are worth using. Sites that actually check their codes prior to publishing them save you a lot of frustration. Find a directory that verifies codes on an ongoing basis, not just when they first go up.
Types of Bonuses You Can Get With a Partner Code
The standard type is the percentage match. You put in a set amount and the broker matches a percentage on top. A few brokers offer up to 100 %, which practically doubles your starting money.
Some brokers offer no-deposit bonuses — a token amount, usually somewhere between ten and fifty dollars, just for registering an account. No deposit required.
To put this in perspective, certain well-known brokers right now have sign-up bonuses of several thousand in bonus funds. That is genuine money you can trade with from day one.
What to Be Aware Of Before Applying a Broker Partner Code
The standard condition is a lot requirement. You must trade a specified amount of trades before the bonus are made available for withdrawal. This is entirely typical across the industry and does not need to scare you.
Additionally check whether the bonus has an expiry date, and what happens if you pull out your original deposit prior to meeting the volume requirement. Most brokers will void the bonus if you check this out do this.
How to Apply a Broker Partner Code
This procedure is pretty simple. Source a active partner code from a reliable source. Visit your chosen broker's registration page. Enter your details as usual. Type the partner code in the promo code box. Finish your registration and place your opening deposit. The bonus will be credited on its own.
The whole process should take about 5 to 10 minutes. No downside to using a valid partner code with a reputable broker. The fees do not change. You just receive bonus funds in your account. Do not skip free capital going to waste when all it requires is typing a code at registration.