If you've ever registered with a trading broker, you might have seen a field requesting a partner code. Many new traders ignore it completely. That is a bad move, because using the right code gives you a welcome bonus of hundreds or even thousands in bonus money.
A broker partner code is really just a promo code that you enter during sign-up. Once you make your opening deposit, the broker credits additional capital in your trading account. The fees stay the same. You just have additional capital to work with.
How to Find Verified Partner Codes for Brokers
Not all codes you come across on the internet are valid. A lot of broker partner codes shared online are expired. A blogger lists a code when it is first released and then forgets about it. Months later the offer has ended but the page is still ranking in Google.
That is the reason dedicated verification sites matter. Sites that regularly verify their codes before publishing them save you a lot of hassle. Use a directory that tests codes on an ongoing basis, not just when they first go up.
Types of Bonuses You Can Get With a Partner Code
By far the most popular type is the deposit match. You put in a certain amount and the broker credits a percentage on top. Some brokers offer up to 100 percent, which basically doubles your initial funds.
There are also free bonuses — a token amount, usually somewhere between 10 to 50 dollars, just for opening an account. No deposit necessary.
Practically speaking, certain established brokers currently have sign-up bonuses up to thousands of dollars. That is actual funds you can trade with from day one.
What to Be Aware Of Before Entering a Broker Partner Code
The main requirement is a trading volume requirement. You must trade a specified amount of trades before the bonus funds are made withdrawable. This is normal across the industry and should not put you off.
Additionally look at if the bonus has an expiry date, and what happens if you cash out your initial deposit before hitting the volume target. Most brokers will cancel the bonus if you do more info this.
Steps to Apply a Broker Partner Code
The procedure is pretty straightforward. Find a active partner code from a reputable source. Go to your chosen broker's sign-up page. Fill in your details as usual. Paste the partner code in the promotional code field. Finish your registration and make your initial deposit. The bonus should be applied automatically.
The whole process should take about 5 to 10 minutes. No downside to entering a valid partner code with a regulated broker. The trading conditions do not change. You just start with free funds in your account. There is no reason to miss free money on the table when all it takes is typing a code at registration.