If you have ever signed up for a trading broker, you have probably seen a box requesting a partner code. A lot of new traders skip right past it. That is a mistake, because using the correct code can get you a welcome bonus worth hundreds or even thousands in extra trading capital.
A broker partner code is really just a promotional code that you type in during account opening. Once you complete your opening deposit, the broker credits bonus funds into your trading account. Your spreads do not change. You just start with more funds to work with.
How to Source Valid Partner Codes for Brokers
Not every codes you come across online are valid. Many broker partner codes floating around online are expired. Someone posts a code when it is new and then moves on. Weeks later the promotion has ended but the page is still up.
That is the reason specialised verification sites are valuable. Sites that actually check their codes prior to publishing them spare you real wasted time. Use a source that checks codes on an ongoing basis, not just once when they are first posted.
Types of Bonuses On Offer Through a Partner Code
The most common type is the percentage match. You fund with a minimum amount and the broker adds a portion on top. Some brokers match up to 100 %, which basically doubles your opening funds.
Some brokers offer no-deposit bonuses — a modest amount, typically around ten and fifty dollars, just for opening an account. No deposit needed.
Practically speaking, several major brokers currently have welcome bonuses of several thousand dollars. That is actual money you can put to work from day one.
Things to Watch Out For Before Applying a Broker Partner Code
The main condition is a lot requirement. You have to complete a specified number of lots before the extra money are made withdrawable. This is standard practice and does not need to scare you.
Also helpful resources look at whether the bonus has an expiry date, and what happens if you withdraw your original deposit before hitting the trading threshold. Many brokers will forfeit the bonus if you do this.
Steps to Activate a Broker Partner Code
This procedure is fairly straightforward. Get a active partner code from a reliable directory. Head to your chosen broker's registration page. Enter your details as usual. Enter the partner code in the promo code box. Complete your sign-up and make your opening deposit. The bonus should be applied automatically.
The whole thing takes about five to ten minutes. There is no disadvantage to applying a working partner code with a regulated broker. Your spreads stay the same. You just receive extra money in your account. There is no reason to miss free capital on the table when all it takes is typing a code at sign-up.