BO account means Beneficiary Owners Account. For starting trading in the stock market of Bangladesh, you are required to have a BO account. The BO account will be used to manage your investment in the share market and day trade shares of different companies. BO account is the first and must-have step for you to get started as a stock trader. If you are wondering how to open a BO account or what is the benefit of BO account, you have come to the right place. In this article, we will shed light on why you should open a BO account. When you are done reading this write up, we hope you will have a crystal clear point of view on the BO account and the significance of it.
To Start Trading in Stock Exchange Market
The very first reason of why you should open a BO account is because it is necessary to start trading in the stock market. If you want to start trading in Bangladesh’s stock market, a BO account is the first step you will need to take. Many organizations will ease the process of creating a BO account for you. With the help of these organizations, you can open a BO account easily. The very first and most important reason of having a BO account is to be able to trade in the stock market of Bangladesh.
To Manage Your Investment
If you are looking for a good source of managing your investment, then having a BO account is the right choice. As you have a bank account to manage your financials, the BO account will be used to invest and manage your financials in the stock market. If you are looking forward to investing in the stock market to manage and make use of your financials, BO account is the key to the door to that pathway. If you have a handsome amount of money that you can invest and make more money from it, you can give BO account a try. Instead of keeping idle money, having a BO account that channels your financials to the stock market is a better idea. So with BO account, you can manage your investment in the share market.
Start a Side Hustle
An extra paycheck at the end of the month is not a bad idea, right? The more, the merrier! So by opening a BO account, you can start a side hustle even if you are already doing a day job or running your business. Investing in the stock market will give you more room for some extra cash. We always recommend starting your journey in the stock exchange market under the right guidance so that your hard earned money is not wasted. By opening a BO account, you can start your journey as a trader and earn more money at some point. So, if you are looking for side hustle ideas, investing in the stock market should be in the list.
Apply in IPO
IPO is Initial Public Offering. A company launches IPO when it is going public in the share market. Investors can apply for the IPO and if they get the IPO they will be deemed as the shareholders of the organization. However, if you want to apply for IPO of a new share, you will need a BO account. If you do not have BO account, you can not apply for IPO. Applying in IPO is safer because if you do not get the IPO, you will get the money back, so many individuals always invest in new IPO only. Even though there are many things to consider before you apply for a new IPO but a BO account is a must if you want to apply for IPO by yourself. So if you are looking forward to apply in IPO, you must get a BO account.
Diversify Your Income Stream
There is a famous quote by Warren Buffet, “Do not put your all eggs in one basket.” He was referring to the fact that if we have only a single income stream or depend only on one source of income, then it might not end well for us. Take the example of the Coronavirus pandemic. Many individuals were almost on the street because they had only one income stream and that was taken away due to the impending situation imposed by the pandemic. The problem would not have been this worse if there were multiple income streams.
So it is very important to have multiple income streams that generate a fair amount of money and the stock market can be one of your income streams. If you do research, stay updated, analyze market trends, keep patience and make calculated decisions you can make a fortune in this industry as well. Create a BO account and get started easily. BO account will be a very simple and first step you can take to walk in this direction. We always emphasize on the significance of doing little tasks that bring big outcome slowly but surely. Opening a BO account is that little step that can bring big changes in your life.
These are the reasons for having a BO account. It will allow you to get started in Bangladesh’s stock market, manage your finances better, and earn money while you are at it. There can be many more reasons to open a BO account, but these are the primary and most essentials of opening a BO account.
We from Royal Capital try to make it super easy for you to create a Bo account. If you are interested in opening a BO account, you can create a BO account online here.