How to Use Partner Codes for Forex Trading

If you've ever registered with a forex broker, you have probably noticed a field asking for a partner code. Most traders ignore it completely. That is a mistake, because entering the right code unlocks a welcome bonus of hundreds or even thousands in free cash.

A broker partner code is basically a referral code that you type in during registration. After you make your opening deposit, the broker adds bonus funds in your trading account. Your spreads do not change. You just receive extra capital to trade with.

How to Get Valid Partner Codes for Brokers

Not all codes you see on the internet are still active. A lot of broker partner codes shared online are outdated. A blogger publishes a code when it is first released and then forgets about it. Months later the promotion has ended but the page is still ranking in Google.

This is why specialised code sites matter. Directories that regularly verify their codes before listing them save you a lot find out here of hassle. Use a source that checks codes on an ongoing basis, not just once when they are first posted.

Different Bonuses Available Through a Partner Code

By far the most popular type is the deposit match. You deposit a minimum amount and the broker adds a percentage on top. A few brokers offer up to 100 %, which effectively doubles your initial capital.

There are also free bonuses — a modest amount, typically somewhere between ten and fifty dollars, just for opening an account. No deposit needed.

In real terms, several major brokers right now run welcome bonuses up to several thousand in extra trading capital. That is genuine capital you can put to work from day one.

Things to Watch Out For Before Entering a Broker Partner Code

The most common condition is a turnover requirement. You need to complete a minimum amount of trades before the bonus funds are made available for withdrawal. This is standard practice and should not scare you.

Also look at whether the bonus has an time limit, and what happens if you pull out your original deposit prior to reaching the volume requirement. Most 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 preferred broker's registration page. Complete your information as normal. Type the partner code in the partner code field. Submit your registration and place your opening deposit. The bonus should be credited straight away.

The entire thing takes maybe five to ten minutes. No disadvantage to entering a working partner code with a regulated broker. The spreads do not change. You just get bonus funds in your account. There is no reason to skip free funds going to waste if all it requires is pasting a code at registration.