A Guide to Partner Codes for Online Trading

If you've ever opened an account with a forex broker, you might have noticed a field requesting a partner code. Many traders ignore it completely. That is a mistake, because applying the right code can get you a welcome bonus worth a significant amount in additional money.

A broker partner code is essentially a referral code that you enter during account opening. After you place your opening deposit, the broker gives you extra money into your trading account. Your fees stay the same. You just receive extra capital to trade with.

How to Get Active Partner Codes for Brokers

Very few of the codes you see through Google are still active. Most broker partner codes floating around online are no longer active. Someone lists a code when it is first released and then forgets about it. Weeks later the promotion has been discontinued but the article is still live.

This is why specialised code sites are worth using. Sites that actually verify their codes prior to publishing them spare you a lot of hassle. Find a site that verifies codes on a regular basis, not just when they first go up.

Different Bonuses You Can Get Using a Partner Code

The most common type is the percentage match. You put in a set amount and the broker credits a percentage on top. Certain brokers offer up to 100 percent, which effectively doubles your initial money.

There are also free bonuses — a modest amount, typically around 10 to 50 dollars, just for opening an account. No deposit necessary.

To put this in perspective, some well-known brokers right now offer welcome bonuses of several thousand in bonus funds. That is real money you can put to work from day one.

Things to Know Before Entering a Broker Partner Code

The most common term is a lot more requirement. You have to execute a minimum number of lots before the extra money become available for withdrawal. This is common practice and should not scare you.

Also verify whether the bonus has an time limit, and what happens if you pull out your initial deposit prior to reaching the volume target. Most brokers will forfeit the bonus if you do this.

How to Apply a Broker Partner Code

The process is pretty easy. Find a active partner code from a reliable source. Head to your preferred broker's registration page. Complete your information as normal. Enter the partner code in the promo code field. Complete your sign-up and make your opening deposit. The bonus should be credited on its own.

The entire process takes maybe 5 to 10 minutes. No downside to applying a working partner code with a reputable broker. Your spreads remain identical. You just get free funds in your account. There is no reason to leave extra capital going to waste if all it takes is typing a code during sign-up.