If you have ever opened an account with a trading broker, you may have come across a box requesting a partner code. Most people skip right past it. That is a bad move, because applying the right code can get you a welcome bonus worth a significant amount in bonus money.
A broker partner code is essentially a referral code that you input during account opening. After you complete your opening deposit, the broker gives you bonus funds in your trading account. The commissions do not change. You just start with additional money to start with.
Where to Get Active Partner Codes for Brokers
Not every codes you come across on the internet are still active. Many broker partner codes posted online are expired. Some website owner lists a code when it is first released and then never checks it again. Months later the offer has expired but the page is still live.
This is why dedicated verification sites are worth using. Sites that actively check their codes before listing them spare you a lot of frustration. Find a directory that tests codes on an ongoing basis, not just when they first go up.
Types of Bonuses On Offer Using a Partner Code
The standard type is the deposit match. You deposit a minimum amount and the broker adds a percentage on top. Certain brokers match up to 100 percent, which basically doubles your opening capital.
There are also free bonuses — a modest amount, typically somewhere between 10 to 50 dollars, just for registering an account. No deposit needed.
Practically speaking, certain established brokers currently have sign-up bonuses up to thousands of in extra trading capital. That is genuine funds you can use from day one.
Things to Know Before Using a Broker Partner Code
The most common requirement is a lot requirement. You have to execute a specified volume before the extra money become withdrawable. This is common practice and does not need to worry you.
Also look at whether the bonus has an validity window, and what happens if you cash out your original deposit before reaching the volume target. Many brokers will forfeit the bonus if you do this.
Steps to Apply a Broker Partner Code
The process is pretty straightforward. Get a working partner code from a trusted source. Head to your selected broker's registration page. Fill in your information as usual. Type the partner code in the promo code helpful resources box. Finish your sign-up and complete your initial deposit. The bonus should be added on its own.
The entire process should take roughly 5 to 10 minutes. No downside to using a verified partner code with a regulated broker. Your trading conditions stay the same. You just get bonus funds in your account. Do not miss extra money unclaimed if all it takes is typing a code during sign-up.