{"id":325861,"date":"2025-07-31T23:03:40","date_gmt":"2025-07-31T23:03:40","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/stock-subscription-2\/"},"modified":"2025-07-31T23:03:40","modified_gmt":"2025-07-31T23:03:40","slug":"stock-subscription","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/stock-subscription\/","title":{"rendered":"\u0110\u0103ng k\u00fd C\u1ed5 phi\u1ebfu: C\u00e1ch T\u1ed1i \u0111a h\u00f3a \u0110\u1ea7u t\u01b0 c\u1ee7a B\u1ea1n v\u00e0o Th\u1ecb tr\u01b0\u1eddng Brazil"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":45,"featured_media":192339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[48,29,28,39,45,44],"class_list":["post-325861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading","tag-crypto","tag-intraday","tag-investment","tag-platform","tag-stock","tag-strategy"],"acf":{"h1":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu Pocket Option","h1_source":{"label":"H1","type":"text","formatted_value":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu Pocket Option"},"description":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 s\u1eed d\u1ee5ng c\u01a1 ch\u1ebf n\u00e0y \u0111\u1ec3 n\u00e2ng cao \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n m\u1ed9t c\u00e1ch an to\u00e0n. Pocket Option cung c\u1ea5p c\u00e1c gi\u1ea3i ph\u00e1p \u0111\u1ed9c quy\u1ec1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil.","description_source":{"label":"Description","type":"textarea","formatted_value":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 s\u1eed d\u1ee5ng c\u01a1 ch\u1ebf n\u00e0y \u0111\u1ec3 n\u00e2ng cao \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n m\u1ed9t c\u00e1ch an to\u00e0n. Pocket Option cung c\u1ea5p c\u00e1c gi\u1ea3i ph\u00e1p \u0111\u1ed9c quy\u1ec1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil."},"intro":"Hi\u1ec3u r\u00f5 quy tr\u00ecnh \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 \u0111i\u1ec1u c\u01a1 b\u1ea3n \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n t\u1eadn d\u1ee5ng c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil. C\u01a1 ch\u1ebf n\u00e0y cho ph\u00e9p tham gia v\u00e0o c\u00e1c \u0111\u1ee3t ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u1edbi c\u00e1c \u0111i\u1ec1u ki\u1ec7n c\u00f3 th\u1ec3 c\u00f3 l\u1ee3i, nh\u01b0ng \u0111\u00f2i h\u1ecfi ki\u1ebfn th\u1ee9c c\u1ee5 th\u1ec3 \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh t\u1ed1t.","intro_source":{"label":"Intro","type":"text","formatted_value":"Hi\u1ec3u r\u00f5 quy tr\u00ecnh \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 \u0111i\u1ec1u c\u01a1 b\u1ea3n \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n t\u1eadn d\u1ee5ng c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil. C\u01a1 ch\u1ebf n\u00e0y cho ph\u00e9p tham gia v\u00e0o c\u00e1c \u0111\u1ee3t ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u1edbi c\u00e1c \u0111i\u1ec1u ki\u1ec7n c\u00f3 th\u1ec3 c\u00f3 l\u1ee3i, nh\u01b0ng \u0111\u00f2i h\u1ecfi ki\u1ebfn th\u1ee9c c\u1ee5 th\u1ec3 \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh t\u1ed1t."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Hi\u1ec3u v\u1ec1 \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t trong nh\u1eefng c\u01a1 ch\u1ebf quan tr\u1ecdng \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n cho c\u00f4ng ty trong th\u1ecb tr\u01b0\u1eddng Brazil, \u0111\u00e3 di chuy\u1ec3n h\u01a1n 65 t\u1ef7 R$ trong n\u0103m 2023 th\u00f4ng qua 28 ho\u1ea1t \u0111\u1ed9ng t\u0103ng v\u1ed1n. Khi m\u1ed9t c\u00f4ng ty t\u00ecm ki\u1ebfm t\u00e0i ch\u00ednh cho vi\u1ec7c m\u1edf r\u1ed9ng, gi\u1ea3m n\u1ee3, ho\u1eb7c c\u00e1c d\u1ef1 \u00e1n chi\u1ebfn l\u01b0\u1ee3c, vi\u1ec7c ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi th\u01b0\u1eddng n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t l\u1ef1a ch\u1ecdn c\u00f3 l\u1ee3i h\u01a1n so v\u1edbi t\u00edn d\u1ee5ng ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1ea1i Brazil,&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;tu\u00e2n theo c\u00e1c quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi H\u01b0\u1edbng d\u1eabn CVM 400 v\u00e0 H\u01b0\u1edbng d\u1eabn CVM 476, ngo\u00e0i c\u00e1c quy \u0111\u1ecbnh c\u1ee7a B3. Qu\u00e1 tr\u00ecnh n\u00e0y cho ph\u00e9p c\u00e1c c\u00f4ng ty huy \u0111\u1ed9ng v\u1ed1n tr\u1ef1c ti\u1ebfp t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1edbi chi ph\u00ed trung b\u00ecnh th\u1ea5p h\u01a1n 3,2% so v\u1edbi t\u00e0i ch\u00ednh ng\u00e2n h\u00e0ng th\u00f4ng th\u01b0\u1eddng, theo d\u1eef li\u1ec7u ANBIMA t\u1eeb n\u0103m 2024.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>S\u1ef1 kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n gi\u1eefa IPO v\u00e0 \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong b\u1ed1i c\u1ea3nh Brazil<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil nh\u1ea7m l\u1eabn gi\u1eefa \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu v\u00e0 IPO, nh\u01b0ng ch\u00fang l\u00e0 c\u00e1c quy tr\u00ecnh c\u00f3 m\u1ee5c \u0111\u00edch kh\u00e1c nhau trong th\u1ecb tr\u01b0\u1eddng v\u1ed1n. Trong khi IPO \u0111\u00e1nh d\u1ea5u l\u1ea7n ch\u00e0o b\u00e1n c\u00f4ng khai \u0111\u1ea7u ti\u00ean c\u1ee7a m\u1ed9t c\u00f4ng ty, cho ph\u00e9p c\u00f4ng ty tham gia giao d\u1ecbch tr\u00ean B3, th\u00ec \u0111\u0103ng k\u00fd x\u1ea3y ra khi c\u00e1c c\u00f4ng ty \u0111\u00e3 ni\u00eam y\u1ebft ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi \u0111\u1ec3 t\u0103ng v\u1ed1n c\u1ed5 ph\u1ea7n, th\u01b0\u1eddng v\u1edbi \u01b0u ti\u00ean cho c\u01a1 s\u1edf c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>\u0110\u1eb7c \u0111i\u1ec3m<\/th><th>IPO<\/th><th>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/th><\/tr><\/thead><tbody><tr><td>Th\u1eddi \u0111i\u1ec3m x\u1ea3y ra<\/td><td>L\u1ea7n \u0111\u1ea7u ti\u00ean v\u00e0o th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai<\/td><td>C\u00f4ng ty \u0111\u00e3 \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean B3<\/td><\/tr><tr><td>M\u1ee5c ti\u00eau ch\u00ednh<\/td><td>Ra c\u00f4ng ch\u00fang v\u00e0 d\u00e2n ch\u1ee7 h\u00f3a quy\u1ec1n s\u1edf h\u1eefu<\/td><td>T\u0103ng v\u1ed1n cho c\u00e1c d\u1ef1 \u00e1n c\u1ee5 th\u1ec3<\/td><\/tr><tr><td>Quy\u1ec1n \u01b0u ti\u00ean<\/td><td>Kh\u00f4ng t\u1ed3n t\u1ea1i cho nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00ean ngo\u00e0i<\/td><td>\u0110\u1ea3m b\u1ea3o cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i (t\u1ef7 l\u1ec7 trung b\u00ecnh 15-30 ng\u00e0y \u0111\u1ec3 th\u1ef1c hi\u1ec7n)<\/td><\/tr><tr><td>Pha lo\u00e3ng c\u1ed5 phi\u1ebfu<\/td><td>Kh\u00f4ng \u00e1p d\u1ee5ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi<\/td><td>X\u1ea3y ra trung b\u00ecnh 12,3% cho nh\u1eefng ng\u01b0\u1eddi kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n (d\u1eef li\u1ec7u 2023)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i&nbsp;<b>Pocket Option<\/b>&nbsp;v\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng kh\u00e1c ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil, s\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y l\u00e0 c\u01a1 b\u1ea3n \u0111\u1ec3 thi\u1ebft l\u1eadp c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p. \u0110\u0103ng k\u00fd cung c\u1ea5p c\u01a1 h\u1ed9i t\u0103ng c\u01b0\u1eddng tham gia v\u00e0o c\u00e1c c\u00f4ng ty tri\u1ec3n v\u1ecdng v\u1edbi kh\u1ea3 n\u0103ng gi\u1ea3m gi\u00e1 trung b\u00ecnh 8,2% so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng, theo kh\u1ea3o s\u00e1t c\u1ee7a B3 trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u0103m 2023.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u1ee5 th\u1ec3 c\u1ee7a n\u00f3 trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;bao g\u1ed3m kh\u1ea3 n\u0103ng mua c\u00e1c ch\u1ee9ng kho\u00e1n m\u1edbi do m\u1ed9t c\u00f4ng ty c\u00f4ng khai Brazil ph\u00e1t h\u00e0nh, v\u1edbi c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u1ee5 th\u1ec3 ph\u00e2n bi\u1ec7t th\u1ecb tr\u01b0\u1eddng n\u00e0y v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng kh\u00e1c. N\u0103m 2023, Brazil \u0111\u00e3 ghi nh\u1eadn 28 ho\u1ea1t \u0111\u1ed9ng \u0111\u0103ng k\u00fd di chuy\u1ec3n 65,7 t\u1ef7 R$, \u0111\u1ea1i di\u1ec7n cho s\u1ef1 t\u0103ng tr\u01b0\u1edfng 23% so v\u1edbi n\u0103m tr\u01b0\u1edbc.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi m\u1ed9t c\u00f4ng ty Brazil quy\u1ebft \u0111\u1ecbnh t\u0103ng v\u1ed1n th\u00f4ng qua ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi, c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i c\u1ee7a n\u00f3 nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u01b0u ti\u00ean trong vi\u1ec7c mua, t\u1ef7 l\u1ec7 v\u1edbi ph\u1ea7n tham gia \u0111\u00e3 n\u1eafm gi\u1eef. Quy\u1ec1n n\u00e0y, \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh b\u1edfi \u0111i\u1ec1u 171 c\u1ee7a Lu\u1eadt 6.404\/76, nh\u1eb1m b\u1ea3o v\u1ec7 c\u1ed5 \u0111\u00f4ng ch\u1ed1ng l\u1ea1i s\u1ef1 pha lo\u00e3ng kh\u00f4ng t\u1ef1 nguy\u1ec7n, cho ph\u00e9p duy tr\u00ec ch\u00ednh x\u00e1c t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a h\u1ecd.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u00e1c giai \u0111o\u1ea1n c\u1ee7a qu\u00e1 tr\u00ecnh \u0111\u0103ng k\u00fd trong th\u1ecb tr\u01b0\u1eddng Brazil: th\u1eddi h\u1ea1n v\u00e0 y\u00eau c\u1ea7u<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Qu\u00e1 tr\u00ecnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;t\u1ea1i Brazil tu\u00e2n theo m\u1ed9t l\u1ecbch tr\u00ecnh nghi\u00eam ng\u1eb7t do CVM thi\u1ebft l\u1eadp, m\u00e0 m\u1ed7i nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n bi\u1ebft \u0111\u1ec3 kh\u00f4ng b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00ea duy\u1ec7t t\u0103ng v\u1ed1n b\u1edfi H\u1ed9i \u0111\u1ed3ng Qu\u1ea3n tr\u1ecb ho\u1eb7c \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng (y\u00eau c\u1ea7u t\u1ef7 l\u1ec7 bi\u1ec3u quy\u1ebft \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n 2\/3 cho c\u00e1c thay \u0111\u1ed5i \u0111i\u1ec1u l\u1ec7)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>X\u00e1c \u0111\u1ecbnh gi\u00e1 ph\u00e1t h\u00e0nh \u0111\u01b0\u1ee3c gi\u1ea3i th\u00edch b\u1edfi b\u00e1o c\u00e1o \u0111\u1ecbnh gi\u00e1 \u0111\u1ed9c l\u1eadp (\u0111i\u1ec1u 170 c\u1ee7a Lu\u1eadt Doanh nghi\u1ec7p)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp th\u1eddi gian \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean (t\u1ed1i thi\u1ec3u ph\u00e1p l\u00fd l\u00e0 30 ng\u00e0y)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Giao d\u1ecbch quy\u1ec1n theo m\u00e3 c\u1ee5 th\u1ec3 tr\u00ean B3 (m\u00e3 k\u1ebft th\u00fac b\u1eb1ng \"1\" cho c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng v\u00e0 \"2\" cho c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh to\u00e1n cho c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u0103ng k\u00fd theo l\u1ecbch tr\u00ecnh \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t (ti\u1ec1n m\u1eb7t ho\u1eb7c tr\u1ea3 g\u00f3p)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u1ee9ng nh\u1eadn t\u0103ng v\u1ed1n b\u1edfi qu\u1ea3n l\u00fd v\u00e0 th\u00f4ng b\u00e1o cho th\u1ecb tr\u01b0\u1eddng qua Th\u00f4ng b\u00e1o V\u1eadt ch\u1ea5t<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec3u&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu c\u00f3 ngh\u0129a l\u00e0 g\u00ec<\/b>&nbsp;trong th\u1ef1c ti\u1ec5n Brazil cho ph\u00e9p \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh t\u00e0i ch\u00ednh th\u00f4ng minh. Khi m\u1ed9t c\u00f4ng ty nh\u01b0 Petrobras ho\u1eb7c Vale c\u00f4ng b\u1ed1 t\u0103ng v\u1ed1n, c\u00e1c c\u1ed5 \u0111\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c bi\u00ean lai \u0111\u1ea1i di\u1ec7n cho quy\u1ec1n \u01b0u ti\u00ean, c\u00f3 th\u1ec3 giao d\u1ecbch ri\u00eang bi\u1ec7t trong c\u00e1c phi\u00ean B3 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian x\u00e1c \u0111\u1ecbnh, th\u01b0\u1eddng t\u1eeb 30 \u0111\u1ebfn 45 ng\u00e0y.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Thu\u1eadt ng\u1eef k\u1ef9 thu\u1eadt<\/th><th>\u0110\u1ecbnh ngh\u0129a trong b\u1ed1i c\u1ea3nh Brazil<\/th><\/tr><\/thead><tbody><tr><td>Quy\u1ec1n \u0111\u0103ng k\u00fd<\/td><td>Quy\u1ec1n \u01b0u ti\u00ean \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu m\u1edbi theo \u0111\u00fang t\u1ef7 l\u1ec7 tham gia c\u1ee7a h\u1ecd (giao d\u1ecbch ri\u00eang tr\u00ean B3)<\/td><\/tr><tr><td>Gi\u00e1 ph\u00e1t h\u00e0nh<\/td><td>Gi\u00e1 tr\u1ecb \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp cho c\u1ed5 phi\u1ebfu m\u1edbi, \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh theo ti\u00eau ch\u00ed c\u1ee7a \u0111i\u1ec1u 170 c\u1ee7a Lu\u1eadt 6.404\/76 (trung b\u00ecnh tr\u1ecdng s\u1ed1, gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n, ho\u1eb7c tri\u1ec3n v\u1ecdng l\u1ee3i nhu\u1eadn)<\/td><\/tr><tr><td>Th\u1eddi gian \u01b0u ti\u00ean<\/td><td>Th\u1eddi gian t\u1ed1i thi\u1ec3u 30 ng\u00e0y \u0111\u01b0\u1ee3c c\u1ea5p cho c\u1ed5 \u0111\u00f4ng \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean c\u1ee7a h\u1ecd (trung b\u00ecnh 38 ng\u00e0y trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a Brazil n\u0103m 2023)<\/td><\/tr><tr><td>C\u1ed5 phi\u1ebfu c\u00f2n l\u1ea1i<\/td><td>C\u1ed5 phi\u1ebfu kh\u00f4ng \u0111\u01b0\u1ee3c \u0111\u0103ng k\u00fd trong th\u1eddi gian ban \u0111\u1ea7u, \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 cho nh\u1eefng ng\u01b0\u1eddi quan t\u00e2m \u0111\u00e3 b\u00e0y t\u1ecf \u00fd \u0111\u1ecbnh tr\u01b0\u1edbc (trung b\u00ecnh 7,5% t\u1ed5ng s\u1ed1 trong n\u0103m 2023)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>N\u1ec1n t\u1ea3ng&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p kh\u00f4ng ch\u1ec9 c\u00e1c t\u00e0i nguy\u00ean gi\u00e1o d\u1ee5c m\u00e0 c\u00f2n c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil hi\u1ec3u m\u1ed9t c\u00e1ch to\u00e1n h\u1ecdc&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u00e0 t\u00ednh to\u00e1n c\u00e1c t\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng \u0111\u1ebfn \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd, bao g\u1ed3m pha lo\u00e3ng, chi ph\u00ed trung b\u00ecnh, v\u00e0 c\u01a1 h\u1ed9i ch\u00eanh l\u1ec7ch gi\u00e1.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 gi\u00e1 tr\u1ecb chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a n\u00f3 trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec3u&nbsp;<b>quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u01b0\u1ee3t qua ki\u1ebfn th\u1ee9c l\u00fd thuy\u1ebft trong b\u1ed1i c\u1ea3nh Brazil. \u0110\u00e2y l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 ph\u00e1p l\u00fd \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o b\u1edfi \u0111i\u1ec1u 171 c\u1ee7a Lu\u1eadt 6.404\/76 cung c\u1ea5p cho c\u1ed5 \u0111\u00f4ng quy\u1ec1n \u01b0u ti\u00ean trong vi\u1ec7c mua c\u1ed5 phi\u1ebfu m\u1edbi khi c\u00f4ng ty th\u1ef1c hi\u1ec7n t\u0103ng v\u1ed1n, t\u1ea1o ra c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o trong th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Quy\u1ec1n \u0111\u0103ng k\u00fd ho\u1ea1t \u0111\u1ed9ng nh\u01b0 m\u1ed9t l\u00e1 ch\u1eafn ch\u1ed1ng l\u1ea1i s\u1ef1 pha lo\u00e3ng kh\u00f4ng t\u1ef1 nguy\u1ec7n c\u1ee7a s\u1ef1 tham gia v\u00e0o c\u00f4ng ty. N\u1ebfu kh\u00f4ng c\u00f3 c\u01a1 ch\u1ebf n\u00e0y, m\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 l\u00fd thuy\u1ebft ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u1edbi gi\u00e1 d\u01b0\u1edbi th\u1ecb tr\u01b0\u1eddng, l\u00e0m pha lo\u00e3ng \u0111\u00e1ng k\u1ec3 c\u00e1c c\u1ed5 \u0111\u00f4ng thi\u1ec3u s\u1ed1. Trong th\u1ef1c ti\u1ec5n Brazil, CVM gi\u00e1m s\u00e1t c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u00e0y, y\u00eau c\u1ea7u gi\u1ea3i th\u00edch k\u1ef9 thu\u1eadt cho gi\u00e1 ph\u00e1t h\u00e0nh.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>K\u1ecbch b\u1ea3n th\u1ef1c t\u1ebf<\/th><th>Kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n<\/th><th>Th\u1ef1c hi\u1ec7n quy\u1ec1n<\/th><\/tr><\/thead><tbody><tr><td>S\u1edf h\u1eefu c\u1ed5 ph\u1ea7n (tr\u01b0\u1eddng h\u1ee3p Vale n\u0103m 2023)<\/td><td>Gi\u1ea3m t\u1eeb 0,001% xu\u1ed1ng 0,00087% (pha lo\u00e3ng 13%)<\/td><td>Duy tr\u00ec ch\u00ednh x\u00e1c \u1edf m\u1ee9c 0,001%<\/td><\/tr><tr><td>Quy\u1ec1n bi\u1ec3u quy\u1ebft trong \u0111\u1ea1i h\u1ed9i<\/td><td>Gi\u1ea3m t\u1ef7 l\u1ec7 v\u1edbi pha lo\u00e3ng<\/td><td>B\u1ea3o to\u00e0n ho\u00e0n to\u00e0n<\/td><\/tr><tr><td>Ti\u1ebfp x\u00fac kinh t\u1ebf v\u1edbi c\u00f4ng ty<\/td><td>Gi\u1ea3m t\u1ef7 l\u1ec7 m\u00e0 kh\u00f4ng c\u00f3 \u0111\u1ed1i t\u00e1c<\/td><td>T\u0103ng danh ngh\u0129a v\u1edbi \u0111\u1ea7u t\u01b0 b\u1ed5 sung<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;v\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng kh\u00e1c ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil \u0111\u1ed1i m\u1eb7t v\u1edbi ba l\u1ef1a ch\u1ecdn khi nh\u1eadn \u0111\u01b0\u1ee3c th\u00f4ng b\u00e1o v\u1ec1 quy\u1ec1n \u0111\u0103ng k\u00fd:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n \u0111\u1ea7y \u0111\u1ee7 quy\u1ec1n, \u0111\u00f3ng g\u00f3p v\u1ed1n b\u1ed5 sung \u0111\u1ec3 duy tr\u00ec t\u1ef7 l\u1ec7 tham gia (l\u1ef1a ch\u1ecdn c\u1ee7a 68% nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil n\u0103m 2023)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u00e1n quy\u1ec1n trong th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p c\u1ee7a B3, l\u1ef1a ch\u1ecdn \u01b0u ti\u00ean cho 22% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 h\u1ea1n ch\u1ebf thanh kho\u1ea3n<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Cho ph\u00e9p quy\u1ec1n h\u1ebft h\u1ea1n, ch\u1ea5p nh\u1eadn pha lo\u00e3ng t\u1ef7 l\u1ec7 (l\u1ef1a ch\u1ecdn c\u1ee7a 10% nh\u00e0 \u0111\u1ea7u t\u01b0, th\u01b0\u1eddng do thi\u1ebfu ki\u1ebfn th\u1ee9c)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh n\u00ean xem x\u00e9t nhi\u1ec1u y\u1ebfu t\u1ed1, bao g\u1ed3m kh\u00f4ng ch\u1ec9 gi\u00e1 ph\u00e1t h\u00e0nh so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng m\u00e0 c\u00f2n c\u1ea3 d\u1ef1 b\u00e1o t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty, m\u1ee5c \u0111\u00edch c\u1ee5 th\u1ec3 c\u1ee7a ngu\u1ed3n l\u1ef1c, v\u00e0 k\u1ebf ho\u1ea1ch t\u00e0i ch\u00ednh v\u00e0 thu\u1ebf c\u00e1 nh\u00e2n c\u1ee7a b\u1ea1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c th\u1ef1c ti\u1ec5n \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a k\u1ebft qu\u1ea3 v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu t\u1ea1i Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u00fa \u00fd \u0111\u1ebfn c\u00e1c \u0111\u1eb7c th\u00f9 c\u1ee7a th\u1ecb tr\u01b0\u1eddng Brazil. C\u00e1c chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 nh\u1ea5t thay \u0111\u1ed5i theo h\u1ed3 s\u01a1, m\u1ee5c ti\u00eau v\u00e0 th\u1eddi gian c\u1ee7a b\u1ea1n, nh\u01b0ng c\u00f3 nh\u1eefng c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh hi\u1ec7u qu\u1ea3 h\u01a1n trong b\u1ed1i c\u1ea3nh qu\u1ed1c gia.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ph\u00e2n t\u00edch to\u00e1n h\u1ecdc v\u1ec1 chi\u1ebft kh\u1ea5u tr\u00ean gi\u00e1 ph\u00e1t h\u00e0nh c\u1ee7a Brazil<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n \u0111\u1ea7u ti\u00ean l\u00e0 so s\u00e1nh to\u00e1n h\u1ecdc gi\u1eefa gi\u00e1 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u00e0 gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i. T\u1ea1i Brazil, chi\u1ebft kh\u1ea5u trung b\u00ecnh trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u0103m 2023 l\u00e0 8,2%, thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 gi\u1eefa c\u00e1c ng\u00e0nh: c\u00f4ng ngh\u1ec7 (11,3%), t\u00e0i ch\u00ednh (6,8%), v\u00e0 h\u00e0ng h\u00f3a (9,1%). Chi\u1ebft kh\u1ea5u n\u00e0y \u0111\u1ea1i di\u1ec7n cho l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng ngay l\u1eadp t\u1ee9c ho\u1eb7c t\u00edn hi\u1ec7u nh\u1eadn th\u1ee9c r\u1ee7i ro c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>K\u1ecbch b\u1ea3n th\u1ecb tr\u01b0\u1eddng<\/th><th>Di\u1ec5n gi\u1ea3i k\u1ef9 thu\u1eadt<\/th><th>Chi\u1ebfn l\u01b0\u1ee3c khuy\u1ebfn ngh\u1ecb cho nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil<\/th><\/tr><\/thead><tbody><tr><td>Chi\u1ebft kh\u1ea5u tr\u00ean 10% (v\u00ed d\u1ee5: Weg n\u0103m 2023 v\u1edbi 12,7%)<\/td><td>C\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 ho\u1eb7c c\u1ea3nh b\u00e1o v\u1ec1 s\u1ef1 suy gi\u1ea3m c\u01a1 b\u1ea3n<\/td><td>Ph\u00e2n t\u00edch c\u00e1c ch\u1ec9 s\u1ed1 thanh kho\u1ea3n (CLC &gt; 1,5) v\u00e0 n\u1ee3 (N\u1ee3\/EBITDA &lt; 2,5) tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh<\/td><\/tr><tr><td>Chi\u1ebft kh\u1ea5u gi\u1eefa 3-8% (trung b\u00ecnh Ibovespa)<\/td><td>\u0110\u1ecbnh gi\u00e1 c\u00e2n b\u1eb1ng v\u1edbi khuy\u1ebfn kh\u00edch nh\u1ecf<\/td><td>\u0110\u00e1nh gi\u00e1 m\u1ee5c \u0111\u00edch c\u1ee5 th\u1ec3 c\u1ee7a ngu\u1ed3n l\u1ef1c v\u00e0 ROI d\u1ef1 ki\u1ebfn c\u1ee7a \u0111\u1ea7u t\u01b0<\/td><\/tr><tr><td>Ph\u00e1t h\u00e0nh v\u1edbi gi\u00e1 cao h\u01a1n th\u1ecb tr\u01b0\u1eddng (hi\u1ebfm, nh\u01b0ng x\u1ea3y ra v\u1edbi Magalu n\u0103m 2022)<\/td><td>K\u1ef3 v\u1ecdng t\u0103ng gi\u00e1 \u0111\u00e1ng k\u1ec3 ho\u1eb7c l\u1ea1c quan qu\u00e1 m\u1ee9c<\/td><td>Y\u00eau c\u1ea7u c\u00e1c d\u1ef1 b\u00e1o chi ti\u1ebft v\u1edbi c\u00e1c gi\u1ea3 \u0111\u1ecbnh c\u00f3 th\u1ec3 ki\u1ec3m ch\u1ee9ng v\u00e0 so s\u00e1nh theo ng\u00e0nh<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c m\u00e1y t\u00ednh chuy\u00ean d\u1ee5ng cho ph\u00e9p c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil \u0111\u1ecbnh l\u01b0\u1ee3ng ch\u00ednh x\u00e1c c\u00e1c k\u1ecbch b\u1ea3n n\u00e0y, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u00e1c quy\u1ebft \u0111\u1ecbnh th\u00f4ng minh v\u1ec1&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;ho\u1eb7c giao d\u1ecbch quy\u1ec1n trong th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p c\u1ee7a B3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c bi\u1ec7t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil bao g\u1ed3m ph\u00e2n t\u00edch chi ti\u1ebft v\u1ec1 m\u1ee5c \u0111\u00edch c\u1ee7a vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n. D\u1eef li\u1ec7u ANBIMA cho th\u1ea5y, t\u1eeb n\u0103m 2020-2023, c\u00e1c c\u00f4ng ty t\u0103ng v\u1ed1n cho m\u1edf r\u1ed9ng h\u1eefu c\u01a1 t\u1ea1o ra l\u1ee3i nhu\u1eadn trung b\u00ecnh cao h\u01a1n 22% trong 12 th\u00e1ng so v\u1edbi nh\u1eefng c\u00f4ng ty huy \u0111\u1ed9ng \u0111\u1ec3 gi\u1ea3m n\u1ee3.<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n cho m\u1edf r\u1ed9ng l\u00e3nh th\u1ed5 (nh\u01b0 Assa\u00ed v\u00e0 Mateus \u0111\u00e3 l\u00e0m n\u0103m 2022): l\u1ee3i nhu\u1eadn trung b\u00ecnh +27,4% trong 12 th\u00e1ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n cho c\u00e1c v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c (tr\u01b0\u1eddng h\u1ee3p Hapvida\/NotreDame): hi\u1ec7u su\u1ea5t t\u01b0\u01a1ng \u0111\u1ed1i +18,9% so v\u1edbi ng\u00e0nh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n \u0111\u1ec3 gi\u1ea3m \u0111\u00f2n b\u1ea9y t\u00e0i ch\u00ednh: ph\u1ee5c h\u1ed3i m\u1ed9t ph\u1ea7n v\u1edbi +8,2% trong k\u1ecbch b\u1ea3n gi\u1ea3m l\u00e3i su\u1ea5t<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n kh\u1ea9n c\u1ea5p cho v\u1ed1n l\u01b0u \u0111\u1ed9ng: t\u00edn hi\u1ec7u v\u00e0ng v\u1edbi hi\u1ec7u su\u1ea5t trung b\u00ecnh -12,7% trong n\u0103m ti\u1ebfp theo<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kh\u00f4ng c\u00f3 c\u00f4ng th\u1ee9c chung n\u00e0o v\u1ec1 khi n\u00e0o&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;s\u1ebd c\u00f3 l\u1ee3i trong th\u1ecb tr\u01b0\u1eddng Brazil. Quy\u1ebft \u0111\u1ecbnh \u0111\u00f2i h\u1ecfi ph\u00e2n t\u00edch c\u1ee5 th\u1ec3 xem x\u00e9t h\u01a1n 15 bi\u1ebfn s\u1ed1, bao g\u1ed3m: chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p, m\u1ee5c \u0111\u00edch c\u1ee7a ngu\u1ed3n l\u1ef1c, l\u1ecbch s\u1eed ph\u00e2n b\u1ed5 v\u1ed1n c\u1ee7a qu\u1ea3n l\u00fd, v\u00e0 tri\u1ec3n v\u1ecdng ng\u00e0nh trong 24 th\u00e1ng t\u1edbi.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c c\u00e2n nh\u1eafc thu\u1ebf c\u1ee5 th\u1ec3 trong \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu cho ng\u01b0\u1eddi n\u1ed9p thu\u1ebf Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i Brazil, hi\u1ec3u v\u1ec1 c\u00e1ch x\u1eed l\u00fd thu\u1ebf c\u1ee7a&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a k\u1ebft qu\u1ea3 t\u00e0i ch\u00ednh. Lu\u1eadt ph\u00e1p Brazil thi\u1ebft l\u1eadp c\u00e1c quy t\u1eafc c\u1ee5 th\u1ec3 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a h\u00ecnh th\u1ee9c \u0111\u1ea7u t\u01b0 n\u00e0y.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo H\u01b0\u1edbng d\u1eabn Quy ph\u1ea1m RFB 1585\/2015, khi b\u1ea1n th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ee7a m\u00ecnh t\u1ea1i Brazil, mua c\u1ed5 phi\u1ebfu m\u1edbi, kh\u00f4ng c\u00f3 s\u1ef1 ki\u1ec7n t\u1ea1o thu\u1ebf ngay l\u1eadp t\u1ee9c x\u1ea3y ra. Thu\u1ebf s\u1ebd \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng ch\u1ec9 khi b\u00e1n trong t\u01b0\u01a1ng lai, khi l\u1ee3i nhu\u1eadn v\u1ed1n s\u1ebd \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed mua trung b\u00ecnh tr\u1ecdng s\u1ed1 (bao g\u1ed3m gi\u00e1 tr\u1ecb \u0111\u00e3 tr\u1ea3 trong \u0111\u0103ng k\u00fd).<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ho\u1ea1t \u0111\u1ed9ng trong th\u1ecb tr\u01b0\u1eddng Brazil<\/th><th>Thu\u1ebf su\u1ea5t<\/th><th>T\u1ef7 l\u1ec7 \u00e1p d\u1ee5ng (2024)<\/th><\/tr><\/thead><tbody><tr><td>Th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd<\/td><td>Kh\u00f4ng b\u1ecb \u0111\u00e1nh thu\u1ebf t\u1ea1i th\u1eddi \u0111i\u1ec3m th\u1ef1c hi\u1ec7n<\/td><td>Mi\u1ec5n thu\u1ebf trong h\u00e0nh \u0111\u1ed9ng<\/td><\/tr><tr><td>B\u00e1n quy\u1ec1n \u0111\u0103ng k\u00fd tr\u00ean B3<\/td><td>L\u1ee3i nhu\u1eadn v\u1ed1n v\u1edbi chi ph\u00ed mua b\u1eb1ng kh\u00f4ng<\/td><td>15% tr\u00ean gi\u00e1 tr\u1ecb to\u00e0n b\u1ed9 (thu qua DARF \u0111\u1ebfn ng\u00e0y l\u00e0m vi\u1ec7c cu\u1ed1i c\u00f9ng c\u1ee7a th\u00e1ng ti\u1ebfp theo)<\/td><\/tr><tr><td>B\u00e1n trong t\u01b0\u01a1ng lai c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 mua trong \u0111\u0103ng k\u00fd<\/td><td>L\u1ee3i nhu\u1eadn v\u1ed1n tr\u00ean s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed trung b\u00ecnh<\/td><td>Ti\u1ebfn b\u1ed9: 15% \u0111\u1ebfn 5 tri\u1ec7u R$; 17,5% gi\u1eefa 5-10 tri\u1ec7u R$; 20% gi\u1eefa 10-30 tri\u1ec7u R$; 22,5% tr\u00ean 30 tri\u1ec7u R$<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kh\u00eda c\u1ea1nh quan tr\u1ecdng cho ng\u01b0\u1eddi n\u1ed9p thu\u1ebf Brazil: chi ph\u00ed trung b\u00ecnh c\u1ee7a vi\u1ec7c mua c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u1ea1i sau khi \u0111\u0103ng k\u00fd, bao g\u1ed3m c\u1ed5 phi\u1ebfu m\u1edbi mua. Vi\u1ec7c t\u00ednh l\u1ea1i n\u00e0y tu\u00e2n theo c\u00f4ng th\u1ee9c \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi H\u01b0\u1edbng d\u1eabn Quy ph\u1ea1m RFB 1585\/2015, \u0111i\u1ec1u 56:<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Chi ph\u00ed trung b\u00ecnh = (S\u1ed1 l\u01b0\u1ee3ng c\u0169 \u00d7 Gi\u00e1 trung b\u00ecnh tr\u01b0\u1edbc \u0111\u00f3) + (S\u1ed1 l\u01b0\u1ee3ng \u0111\u00e3 \u0111\u0103ng k\u00fd \u00d7 Gi\u00e1 \u0111\u0103ng k\u00fd) \u00f7 (T\u1ed5ng s\u1ed1 l\u01b0\u1ee3ng sau khi \u0111\u0103ng k\u00fd)<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p m\u1ed9t c\u00f4ng c\u1ee5 t\u00ednh to\u00e1n thu\u1ebf \u0111\u1ed9c quy\u1ec1n gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil m\u00f4 ph\u1ecfng c\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf v\u00e0 t\u00ednh to\u00e1n chi ph\u00ed trung b\u00ecnh sau c\u00e1c s\u1ef1 ki\u1ec7n&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u1ea3 vi\u1ec7c l\u1eadp k\u1ebf ho\u1ea1ch v\u00e0 tu\u00e2n th\u1ee7 thu\u1ebf v\u1edbi C\u1ee5c Thu\u1ebf Li\u00ean bang.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Kinh nghi\u1ec7m th\u1ef1c t\u1ebf v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng Brazil: c\u00e1c tr\u01b0\u1eddng h\u1ee3p th\u1ef1c ti\u1ec5n<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 minh h\u1ecda c\u1ee5 th\u1ec3 c\u00e1ch&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil, h\u00e3y ph\u00e2n t\u00edch c\u00e1c tr\u01b0\u1eddng h\u1ee3p g\u1ea7n \u0111\u00e2y cho th\u1ea5y c\u00e1c k\u1ecbch b\u1ea3n v\u00e0 k\u1ebft qu\u1ea3 kh\u00e1c nhau trong th\u1ecb tr\u01b0\u1eddng qu\u1ed1c gia.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u00e0o th\u00e1ng 1 n\u0103m 2023, Banco BTG Pactual \u0111\u00e3 th\u1ef1c hi\u1ec7n t\u0103ng v\u1ed1n 2,7 t\u1ef7 R$ \u0111\u1ec3 c\u1ee7ng c\u1ed1 c\u1ea5u tr\u00fac v\u1ed1n v\u00e0 t\u00e0i tr\u1ee3 cho m\u1edf r\u1ed9ng k\u1ef9 thu\u1eadt s\u1ed1. C\u00e1c c\u1ed5 \u0111\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u0111\u0103ng k\u00fd theo t\u1ef7 l\u1ec7 1:10 (m\u1ed9t m\u1edbi cho m\u1ed7i m\u01b0\u1eddi \u0111\u00e3 n\u1eafm gi\u1eef), v\u1edbi chi\u1ebft kh\u1ea5u 6,5% tr\u00ean gi\u00e1 trung b\u00ecnh tr\u1ecdng s\u1ed1 c\u1ee7a 30 phi\u00ean giao d\u1ecbch tr\u01b0\u1edbc \u0111\u00f3.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>C\u00f4ng ty Brazil<\/th><th>Ng\u00e0y ho\u1ea1t \u0111\u1ed9ng<\/th><th>T\u1ef7 l\u1ec7<\/th><th>Chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p<\/th><th>Hi\u1ec7u su\u1ea5t t\u01b0\u01a1ng \u0111\u1ed1i (so v\u1edbi Ibovespa sau 6 th\u00e1ng)<\/th><\/tr><\/thead><tbody><tr><td>BTG Pactual (BPAC11)<\/td><td>Th\u00e1ng 1\/2023<\/td><td>1:10<\/td><td>6,5%<\/td><td>+17,8% (v\u01b0\u1ee3t tr\u1ed9i h\u01a1n Ibovespa 12,3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m)<\/td><\/tr><tr><td>Magazine Luiza (MGLU3)<\/td><td>Th\u00e1ng 3\/2023<\/td><td>1:4<\/td><td>3,2%<\/td><td>-10,5% (hi\u1ec7u su\u1ea5t k\u00e9m h\u01a1n 15,1 p.p. so v\u1edbi ch\u1ec9 s\u1ed1)<\/td><\/tr><tr><td>MRV Engenharia (MRVE3)<\/td><td>Th\u00e1ng 6\/2023<\/td><td>1:5<\/td><td>11,7%<\/td><td>+25,3% (v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n 18,7 p.p.)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Kh\u00e1ch h\u00e0ng c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;tham gia v\u00e0o \u0111\u0103ng k\u00fd c\u1ee7a MRV \u0111\u00e3 b\u00e1o c\u00e1o m\u1ed9t tr\u1ea3i nghi\u1ec7m \u0111\u1eb7c bi\u1ec7t t\u00edch c\u1ef1c. Chi\u1ebft kh\u1ea5u \u1ea5n t\u01b0\u1ee3ng 11,7% \u0111\u00e3 thu h\u00fat nhu c\u1ea7u m\u1ea1nh m\u1ebd, v\u1edbi t\u1ef7 l\u1ec7 th\u1ef1c hi\u1ec7n 92,3% quy\u1ec1n. M\u1ee5c \u0111\u00edch r\u00f5 r\u00e0ng c\u1ee7a ngu\u1ed3n l\u1ef1c cho vi\u1ec7c mua l\u1ea1i \u0111\u1ea5t chi\u1ebfn l\u01b0\u1ee3c \u1edf c\u00e1c khu v\u1ef1c c\u00f3 thi\u1ebfu h\u1ee5t nh\u00e0 \u1edf 1,5 tri\u1ec7u \u0111\u01a1n v\u1ecb \u0111\u00e3 \u0111\u00f3ng g\u00f3p quy\u1ebft \u0111\u1ecbnh v\u00e0o s\u1ef1 t\u0103ng gi\u00e1 sau \u0111\u00f3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tuy nhi\u00ean, tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Magazine Luiza cho th\u1ea5y kh\u00f4ng ph\u1ea3i m\u1ecdi \u0111\u0103ng k\u00fd \u0111\u1ec1u mang l\u1ea1i l\u1ee3i nhu\u1eadn ngay l\u1eadp t\u1ee9c trong th\u1ecb tr\u01b0\u1eddng Brazil. M\u1eb7c d\u00f9 c\u00f3 chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p, c\u00f4ng ty \u0111\u00e3 \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 c\u1ea1nh tranh gia t\u0103ng trong th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn b\u1ecb n\u00e9n 3,7 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong n\u1eeda n\u0103m ti\u1ebfp theo, d\u1eabn \u0111\u1ebfn hi\u1ec7u su\u1ea5t k\u00e9m h\u01a1n so v\u1edbi ch\u1ec9 s\u1ed1 Ibovespa.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u1eefng kinh nghi\u1ec7m th\u1ef1c t\u1ebf n\u00e0y trong th\u1ecb tr\u01b0\u1eddng qu\u1ed1c gia c\u1ee7ng c\u1ed1 s\u1ef1 c\u1ea7n thi\u1ebft ph\u1ea3i ph\u00e2n t\u00edch t\u1eebng c\u01a1 h\u1ed9i&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;m\u1ed9t c\u00e1ch ri\u00eang l\u1ebb, kh\u00f4ng ch\u1ec9 xem x\u00e9t chi\u1ebft kh\u1ea5u to\u00e1n h\u1ecdc \u0111\u01b0\u1ee3c cung c\u1ea5p m\u00e0 ch\u1ee7 y\u1ebfu l\u00e0 c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n c\u1ee7a c\u00f4ng ty, kh\u1ea3 n\u0103ng th\u1ef1c thi c\u1ee7a qu\u1ea3n l\u00fd, v\u00e0 k\u1ecbch b\u1ea3n c\u1ea1nh tranh c\u1ee7a ng\u00e0nh trong 24 th\u00e1ng t\u1edbi.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Nh\u1eefng sai l\u1ea7m ph\u1ed5 bi\u1ebfn c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil v\u00e0 c\u00e1ch tr\u00e1nh ch\u00fang trong \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngay c\u1ea3 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kinh nghi\u1ec7m c\u0169ng m\u1eafc ph\u1ea3i nh\u1eefng sai l\u1ea7m c\u1ee5 th\u1ec3 khi x\u1eed l\u00fd&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;trong b\u1ed1i c\u1ea3nh Brazil. X\u00e1c \u0111\u1ecbnh c\u00e1c m\u1eabu l\u1ed7i ph\u1ed5 bi\u1ebfn nh\u1ea5t c\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a b\u1ea1n trong th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng.<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ho\u00e0n to\u00e0n b\u1ecf qua th\u00f4ng b\u00e1o quy\u1ec1n \u0111\u0103ng k\u00fd, d\u1eabn \u0111\u1ebfn pha lo\u00e3ng trung b\u00ecnh 12,3% m\u00e0 kh\u00f4ng ph\u00e2n t\u00edch c\u01a1 h\u1ed9i (l\u1ed7i c\u1ee7a 38% nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb theo nghi\u00ean c\u1ee9u c\u1ee7a B3 n\u0103m 2023)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef1 \u0111\u1ed9ng \u0111\u0103ng k\u00fd do g\u1eafn b\u00f3 t\u00ecnh c\u1ea3m v\u1edbi c\u00f4ng ty, m\u00e0 kh\u00f4ng ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u1ec1 ho\u1ea1t \u0111\u1ed9ng v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a n\u00f3 \u0111\u1ebfn b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n (h\u00e0nh vi c\u1ee7a 27% nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Qu\u00e1 m\u1ee9c cam k\u1ebft thanh kho\u1ea3n c\u00e1 nh\u00e2n \u0111\u1ec3 tr\u00e1nh pha lo\u00e3ng, l\u00e0m m\u1ea5t c\u00e2n b\u1eb1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 t\u1ea1o ra nhu c\u1ea7u b\u00e1n s\u1edbm c\u00e1c t\u00e0i s\u1ea3n kh\u00e1c<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng ch\u00fa \u00fd \u0111\u1ebfn l\u1ecbch tr\u00ecnh c\u1ee5 th\u1ec3 c\u1ee7a ho\u1ea1t \u0111\u1ed9ng, b\u1ecf l\u1ee1 c\u00e1c th\u1eddi h\u1ea1n quan tr\u1ecdng (th\u1eddi h\u1ea1n th\u1ef1c hi\u1ec7n v\u00e0 thanh to\u00e1n)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng \u0111\u00e1nh gi\u00e1 m\u1ed9t c\u00e1ch ph\u00ea ph\u00e1n m\u1ee5c \u0111\u00edch s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c \u0111\u00e3 tuy\u00ean b\u1ed1 trong b\u1ed1i c\u1ea3nh ng\u00e0nh c\u1ee7a Brazil<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>L\u1ed7i \u0111\u1eb7c bi\u1ec7t ph\u1ed5 bi\u1ebfn trong s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil l\u00e0 s\u1ef1 thi\u1ebfu ph\u00e2n t\u00edch ph\u00ea ph\u00e1n khi nh\u1eadn \u0111\u01b0\u1ee3c th\u00f4ng b\u00e1o \u0111\u0103ng k\u00fd. Nghi\u00ean c\u1ee9u c\u1ee7a ANBIMA ti\u1ebft l\u1ed9 r\u1eb1ng 68% t\u1ef1 \u0111\u1ed9ng th\u1ef1c hi\u1ec7n quy\u1ec1n v\u00ec s\u1ee3 pha lo\u00e3ng, m\u00e0 kh\u00f4ng xem x\u00e9t t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn chi ph\u00ed trung b\u00ecnh v\u00e0 l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng c\u1ee7a v\u1ed1n b\u1ed5 sung t\u1ea1i th\u1eddi \u0111i\u1ec3m c\u1ee5 th\u1ec3 c\u1ee7a chu k\u1ef3 kinh t\u1ebf.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;khuy\u1ebfn ngh\u1ecb r\u1eb1ng c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil n\u00ean \u0111\u00e1nh gi\u00e1 ph\u00ea ph\u00e1n c\u00e1c kh\u00eda c\u1ea1nh k\u1ef9 thu\u1eadt sau tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Kh\u00eda c\u1ea1nh c\u01a1 b\u1ea3n<\/th><th>C\u00e2u h\u1ecfi k\u1ef9 thu\u1eadt cho ph\u00e2n t\u00edch Brazil<\/th><\/tr><\/thead><tbody><tr><td>\u0110\u1ed9ng c\u01a1 huy \u0111\u1ed9ng v\u1ed1n<\/td><td>C\u00f4ng ty c\u00f3 \u0111ang huy \u0111\u1ed9ng \u0111\u1ec3 t\u00e0i tr\u1ee3 cho t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng hay \u0111\u1ec3 gi\u1ea3i quy\u1ebft v\u1ea5n \u0111\u1ec1 thanh kho\u1ea3n? K\u1ebf ho\u1ea1ch s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c c\u00f3 tr\u00ecnh b\u00e0y ROI c\u1ee5 th\u1ec3 v\u00e0 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng \u0111\u01b0\u1ee3c kh\u00f4ng? Hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed c\u1ee7a qu\u1ea3n l\u00fd trong ph\u00e2n b\u1ed5 v\u1ed1n l\u00e0 g\u00ec?<\/td><\/tr><tr><td>\u0110\u1ecbnh gi\u00e1 ph\u00e1t h\u00e0nh<\/td><td>Chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p c\u00f3 b\u00f9 \u0111\u1eafp \u0111\u1ee7 r\u1ee7i ro trong m\u00f4i tr\u01b0\u1eddng kinh t\u1ebf v\u0129 m\u00f4 hi\u1ec7n t\u1ea1i c\u1ee7a Brazil kh\u00f4ng? Gi\u00e1 so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd \u0111\u01b0\u1ee3c \u01b0\u1edbc t\u00ednh b\u1edfi 5 ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 l\u1edbn nh\u1ea5t nh\u01b0 th\u1ebf n\u00e0o?<\/td><\/tr><tr><td>T\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n<\/td><td>T\u00f4i c\u00f3 ngu\u1ed3n l\u1ef1c m\u00e0 kh\u00f4ng l\u00e0m \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn d\u1ef1 tr\u1eef kh\u1ea9n c\u1ea5p c\u1ee7a m\u00ecnh (t\u1ed1i thi\u1ec3u 6 th\u00e1ng chi ph\u00ed t\u1ea1i Brazil) v\u00e0 \u0111a d\u1ea1ng h\u00f3a t\u00e0i s\u1ea3n kh\u00f4ng?<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng \u0111i\u1ec1u ch\u1ec9nh r\u1ee7i ro<\/td><td>C\u00f3 tri\u1ec3n v\u1ecdng \u0111\u01b0\u1ee3c ch\u1ee9ng minh r\u1eb1ng v\u1ed1n b\u1ed5 sung s\u1ebd t\u1ea1o ra ROIC cao h\u01a1n chi ph\u00ed v\u1ed1n trong kho\u1ea3ng th\u1eddi gian 24-36 th\u00e1ng trong k\u1ecbch b\u1ea3n Brazil kh\u00f4ng?<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t sai l\u1ea7m \u0111\u00e1ng k\u1ec3 kh\u00e1c l\u00e0 kh\u00f4ng hi\u1ec3u \u0111\u1ea7y \u0111\u1ee7&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu c\u00f3 ngh\u0129a l\u00e0 g\u00ec<\/b>&nbsp;v\u1ec1 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 th\u1ecb tr\u01b0\u1eddng. D\u1ef1 ki\u1ebfn to\u00e1n h\u1ecdc r\u1eb1ng sau khi c\u00f4ng b\u1ed1 \u0111\u0103ng k\u00fd v\u1edbi chi\u1ebft kh\u1ea5u, gi\u00e1 s\u1ebd ch\u1ecbu s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt. Chuy\u1ec3n \u0111\u1ed9ng n\u00e0y kh\u00f4ng \u0111\u1ea1i di\u1ec7n cho s\u1ef1 suy gi\u1ea3m c\u01a1 b\u1ea3n, m\u00e0 l\u00e0 s\u1ef1 c\u00e2n b\u1eb1ng l\u1ea1i xem x\u00e9t pha lo\u00e3ng ti\u1ec1m n\u0103ng v\u00e0 gi\u00e1 trung b\u00ecnh tr\u1ecdng s\u1ed1 m\u1edbi.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: T\u1ed1i \u0111a h\u00f3a k\u1ebft qu\u1ea3 v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u00f4ng c\u1ee5 chi\u1ebfn l\u01b0\u1ee3c trong kho v\u0169 kh\u00ed c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 ho\u1ea1t \u0111\u1ed9ng trong th\u1ecb tr\u01b0\u1eddng Brazil. Khi \u0111\u01b0\u1ee3c hi\u1ec3u s\u00e2u s\u1eafc v\u00e0 s\u1eed d\u1ee5ng v\u1edbi c\u00e1c ti\u00eau ch\u00ed k\u1ef9 thu\u1eadt nghi\u00eam ng\u1eb7t, n\u00f3 cung c\u1ea5p c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ed9c \u0111\u00e1o \u0111\u1ec3 c\u1ee7ng c\u1ed1 v\u1ecb tr\u00ed trong c\u00e1c c\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc ho\u1eb7c b\u1eaft \u0111\u1ea7u tham gia trong \u0111i\u1ec1u ki\u1ec7n gi\u00e1 \u01b0u \u0111\u00e3i.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u01b0 ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ee9ng minh trong su\u1ed1t ph\u00e2n t\u00edch n\u00e0y, hi\u1ec3u&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u01b0\u1ee3t qua \u0111\u1ecbnh ngh\u0129a k\u1ef9 thu\u1eadt trong b\u1ed1i c\u1ea3nh Brazil. N\u00f3 bao g\u1ed3m vi\u1ec7c n\u1eafm v\u1eefng c\u00e1c kh\u00eda c\u1ea1nh quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 c\u1ee7a CVM, hi\u1ec3u c\u00e1c quy\u1ec1n c\u1ee7a c\u00f4ng ty \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o b\u1edfi Lu\u1eadt 6.404\/76, t\u00ednh to\u00e1n c\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf theo lu\u1eadt thu\u1ebf hi\u1ec7n h\u00e0nh, v\u00e0 ph\u00e1t tri\u1ec3n kh\u1ea3 n\u0103ng ph\u00e2n t\u00edch \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 t\u1eebng t\u00ecnh hu\u1ed1ng theo gi\u00e1 tr\u1ecb ri\u00eang c\u1ee7a n\u00f3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Trong th\u1ecb tr\u01b0\u1eddng Brazil, \u0111\u01b0\u1ee3c \u0111\u1eb7c tr\u01b0ng b\u1edfi s\u1ef1 bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n m\u1ee9c trung b\u00ecnh to\u00e0n c\u1ea7u (21,3% so v\u1edbi 17,5% c\u1ee7a c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n) v\u00e0 c\u00e1c \u0111\u1eb7c th\u00f9 quy \u0111\u1ecbnh, quy\u1ebft \u0111\u1ecbnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;y\u00eau c\u1ea7u ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt nghi\u00eam ng\u1eb7t, xem x\u00e9t kh\u00f4ng ch\u1ec9 c\u00e1c kh\u00eda c\u1ea1nh c\u01a1 b\u1ea3n c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh m\u00e0 c\u00f2n c\u1ea3 v\u1ecb tr\u00ed t\u00e0i s\u1ea3n c\u1ee7a b\u1ea1n v\u00e0 c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ed9c quy\u1ec1n \u0111\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng c\u00e1c quy\u1ebft \u0111\u1ecbnh ph\u1ee9c t\u1ea1p n\u00e0y, bao g\u1ed3m m\u00e1y t\u00ednh pha lo\u00e3ng, m\u00f4 ph\u1ecfng t\u00e1c \u0111\u1ed9ng thu\u1ebf, v\u00e0 ph\u00e2n t\u00edch so s\u00e1nh theo ng\u00e0nh \u0111\u1ecbnh l\u01b0\u1ee3ng hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed c\u1ee7a c\u00e1c \u0111\u0103ng k\u00fd theo ng\u00e0nh v\u00e0 quy m\u00f4 c\u00f4ng ty.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u01b0 trong b\u1ea5t k\u1ef3 quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 n\u00e0o trong th\u1ecb tr\u01b0\u1eddng Brazil, kh\u00f4ng c\u00f3 c\u00e2u tr\u1ea3 l\u1eddi chung \u00e1p d\u1ee5ng cho t\u1ea5t c\u1ea3 c\u00e1c k\u1ecbch b\u1ea3n \u0111\u0103ng k\u00fd. M\u1ed7i c\u01a1 h\u1ed9i n\u00ean \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 k\u1ef9 thu\u1eadt, xem x\u00e9t kh\u00f4ng ch\u1ec9 chi\u1ebft kh\u1ea5u to\u00e1n h\u1ecdc \u0111\u01b0\u1ee3c cung c\u1ea5p m\u00e0 ch\u1ee7 y\u1ebfu l\u00e0 b\u1ed1i c\u1ea3nh kinh t\u1ebf v\u0129 m\u00f4 hi\u1ec7n t\u1ea1i (l\u00e3i su\u1ea5t Selic, l\u1ea1m ph\u00e1t d\u1ef1 ki\u1ebfn, v\u00e0 ph\u00ed r\u1ee7i ro), s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3 c\u1ee7a c\u00f4ng ty, v\u00e0 v\u1ecb tr\u00ed c\u1ea1nh tranh c\u1ee7a n\u00f3 trong ng\u00e0nh.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>B\u1eb1ng c\u00e1ch ho\u00e0n to\u00e0n n\u1eafm v\u1eefng&nbsp;<b>quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u00e0 th\u1ef1c hi\u1ec7n ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n t\u00edch c\u00f3 c\u1ea5u tr\u00fac, b\u1ea1n s\u1ebd \u0111\u01b0\u1ee3c chu\u1ea9n b\u1ecb t\u1ed1t h\u01a1n \u0111\u00e1ng k\u1ec3 \u0111\u1ec3 khai th\u00e1c gi\u00e1 tr\u1ecb t\u1eeb c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u00e0y v\u00e0 c\u00f3 kh\u1ea3 n\u0103ng v\u01b0\u1ee3t tr\u1ed9i h\u01a1n so v\u1edbi l\u1ee3i nhu\u1eadn trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil, \u0111\u00e3 ghi nh\u1eadn s\u1ef1 t\u0103ng tr\u01b0\u1edfng 132% trong s\u1ed1 l\u01b0\u1ee3ng t\u00e0i kho\u1ea3n ho\u1ea1t \u0111\u1ed9ng tr\u00ean B3 trong n\u0103m n\u0103m qua.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Hi\u1ec3u v\u1ec1 \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t trong nh\u1eefng c\u01a1 ch\u1ebf quan tr\u1ecdng \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n cho c\u00f4ng ty trong th\u1ecb tr\u01b0\u1eddng Brazil, \u0111\u00e3 di chuy\u1ec3n h\u01a1n 65 t\u1ef7 R$ trong n\u0103m 2023 th\u00f4ng qua 28 ho\u1ea1t \u0111\u1ed9ng t\u0103ng v\u1ed1n. Khi m\u1ed9t c\u00f4ng ty t\u00ecm ki\u1ebfm t\u00e0i ch\u00ednh cho vi\u1ec7c m\u1edf r\u1ed9ng, gi\u1ea3m n\u1ee3, ho\u1eb7c c\u00e1c d\u1ef1 \u00e1n chi\u1ebfn l\u01b0\u1ee3c, vi\u1ec7c ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi th\u01b0\u1eddng n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t l\u1ef1a ch\u1ecdn c\u00f3 l\u1ee3i h\u01a1n so v\u1edbi t\u00edn d\u1ee5ng ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1ea1i Brazil,&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;tu\u00e2n theo c\u00e1c quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi H\u01b0\u1edbng d\u1eabn CVM 400 v\u00e0 H\u01b0\u1edbng d\u1eabn CVM 476, ngo\u00e0i c\u00e1c quy \u0111\u1ecbnh c\u1ee7a B3. Qu\u00e1 tr\u00ecnh n\u00e0y cho ph\u00e9p c\u00e1c c\u00f4ng ty huy \u0111\u1ed9ng v\u1ed1n tr\u1ef1c ti\u1ebfp t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1edbi chi ph\u00ed trung b\u00ecnh th\u1ea5p h\u01a1n 3,2% so v\u1edbi t\u00e0i ch\u00ednh ng\u00e2n h\u00e0ng th\u00f4ng th\u01b0\u1eddng, theo d\u1eef li\u1ec7u ANBIMA t\u1eeb n\u0103m 2024.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>S\u1ef1 kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n gi\u1eefa IPO v\u00e0 \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong b\u1ed1i c\u1ea3nh Brazil<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil nh\u1ea7m l\u1eabn gi\u1eefa \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu v\u00e0 IPO, nh\u01b0ng ch\u00fang l\u00e0 c\u00e1c quy tr\u00ecnh c\u00f3 m\u1ee5c \u0111\u00edch kh\u00e1c nhau trong th\u1ecb tr\u01b0\u1eddng v\u1ed1n. Trong khi IPO \u0111\u00e1nh d\u1ea5u l\u1ea7n ch\u00e0o b\u00e1n c\u00f4ng khai \u0111\u1ea7u ti\u00ean c\u1ee7a m\u1ed9t c\u00f4ng ty, cho ph\u00e9p c\u00f4ng ty tham gia giao d\u1ecbch tr\u00ean B3, th\u00ec \u0111\u0103ng k\u00fd x\u1ea3y ra khi c\u00e1c c\u00f4ng ty \u0111\u00e3 ni\u00eam y\u1ebft ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi \u0111\u1ec3 t\u0103ng v\u1ed1n c\u1ed5 ph\u1ea7n, th\u01b0\u1eddng v\u1edbi \u01b0u ti\u00ean cho c\u01a1 s\u1edf c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>\u0110\u1eb7c \u0111i\u1ec3m<\/th>\n<th>IPO<\/th>\n<th>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u1eddi \u0111i\u1ec3m x\u1ea3y ra<\/td>\n<td>L\u1ea7n \u0111\u1ea7u ti\u00ean v\u00e0o th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai<\/td>\n<td>C\u00f4ng ty \u0111\u00e3 \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean B3<\/td>\n<\/tr>\n<tr>\n<td>M\u1ee5c ti\u00eau ch\u00ednh<\/td>\n<td>Ra c\u00f4ng ch\u00fang v\u00e0 d\u00e2n ch\u1ee7 h\u00f3a quy\u1ec1n s\u1edf h\u1eefu<\/td>\n<td>T\u0103ng v\u1ed1n cho c\u00e1c d\u1ef1 \u00e1n c\u1ee5 th\u1ec3<\/td>\n<\/tr>\n<tr>\n<td>Quy\u1ec1n \u01b0u ti\u00ean<\/td>\n<td>Kh\u00f4ng t\u1ed3n t\u1ea1i cho nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00ean ngo\u00e0i<\/td>\n<td>\u0110\u1ea3m b\u1ea3o cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i (t\u1ef7 l\u1ec7 trung b\u00ecnh 15-30 ng\u00e0y \u0111\u1ec3 th\u1ef1c hi\u1ec7n)<\/td>\n<\/tr>\n<tr>\n<td>Pha lo\u00e3ng c\u1ed5 phi\u1ebfu<\/td>\n<td>Kh\u00f4ng \u00e1p d\u1ee5ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi<\/td>\n<td>X\u1ea3y ra trung b\u00ecnh 12,3% cho nh\u1eefng ng\u01b0\u1eddi kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n (d\u1eef li\u1ec7u 2023)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i&nbsp;<b>Pocket Option<\/b>&nbsp;v\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng kh\u00e1c ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil, s\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y l\u00e0 c\u01a1 b\u1ea3n \u0111\u1ec3 thi\u1ebft l\u1eadp c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p. \u0110\u0103ng k\u00fd cung c\u1ea5p c\u01a1 h\u1ed9i t\u0103ng c\u01b0\u1eddng tham gia v\u00e0o c\u00e1c c\u00f4ng ty tri\u1ec3n v\u1ecdng v\u1edbi kh\u1ea3 n\u0103ng gi\u1ea3m gi\u00e1 trung b\u00ecnh 8,2% so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng, theo kh\u1ea3o s\u00e1t c\u1ee7a B3 trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u0103m 2023.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u1ee5 th\u1ec3 c\u1ee7a n\u00f3 trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;bao g\u1ed3m kh\u1ea3 n\u0103ng mua c\u00e1c ch\u1ee9ng kho\u00e1n m\u1edbi do m\u1ed9t c\u00f4ng ty c\u00f4ng khai Brazil ph\u00e1t h\u00e0nh, v\u1edbi c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u1ee5 th\u1ec3 ph\u00e2n bi\u1ec7t th\u1ecb tr\u01b0\u1eddng n\u00e0y v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng kh\u00e1c. N\u0103m 2023, Brazil \u0111\u00e3 ghi nh\u1eadn 28 ho\u1ea1t \u0111\u1ed9ng \u0111\u0103ng k\u00fd di chuy\u1ec3n 65,7 t\u1ef7 R$, \u0111\u1ea1i di\u1ec7n cho s\u1ef1 t\u0103ng tr\u01b0\u1edfng 23% so v\u1edbi n\u0103m tr\u01b0\u1edbc.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi m\u1ed9t c\u00f4ng ty Brazil quy\u1ebft \u0111\u1ecbnh t\u0103ng v\u1ed1n th\u00f4ng qua ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi, c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i c\u1ee7a n\u00f3 nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u01b0u ti\u00ean trong vi\u1ec7c mua, t\u1ef7 l\u1ec7 v\u1edbi ph\u1ea7n tham gia \u0111\u00e3 n\u1eafm gi\u1eef. Quy\u1ec1n n\u00e0y, \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh b\u1edfi \u0111i\u1ec1u 171 c\u1ee7a Lu\u1eadt 6.404\/76, nh\u1eb1m b\u1ea3o v\u1ec7 c\u1ed5 \u0111\u00f4ng ch\u1ed1ng l\u1ea1i s\u1ef1 pha lo\u00e3ng kh\u00f4ng t\u1ef1 nguy\u1ec7n, cho ph\u00e9p duy tr\u00ec ch\u00ednh x\u00e1c t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a h\u1ecd.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u00e1c giai \u0111o\u1ea1n c\u1ee7a qu\u00e1 tr\u00ecnh \u0111\u0103ng k\u00fd trong th\u1ecb tr\u01b0\u1eddng Brazil: th\u1eddi h\u1ea1n v\u00e0 y\u00eau c\u1ea7u<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Qu\u00e1 tr\u00ecnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;t\u1ea1i Brazil tu\u00e2n theo m\u1ed9t l\u1ecbch tr\u00ecnh nghi\u00eam ng\u1eb7t do CVM thi\u1ebft l\u1eadp, m\u00e0 m\u1ed7i nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n bi\u1ebft \u0111\u1ec3 kh\u00f4ng b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00ea duy\u1ec7t t\u0103ng v\u1ed1n b\u1edfi H\u1ed9i \u0111\u1ed3ng Qu\u1ea3n tr\u1ecb ho\u1eb7c \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng (y\u00eau c\u1ea7u t\u1ef7 l\u1ec7 bi\u1ec3u quy\u1ebft \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n 2\/3 cho c\u00e1c thay \u0111\u1ed5i \u0111i\u1ec1u l\u1ec7)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>X\u00e1c \u0111\u1ecbnh gi\u00e1 ph\u00e1t h\u00e0nh \u0111\u01b0\u1ee3c gi\u1ea3i th\u00edch b\u1edfi b\u00e1o c\u00e1o \u0111\u1ecbnh gi\u00e1 \u0111\u1ed9c l\u1eadp (\u0111i\u1ec1u 170 c\u1ee7a Lu\u1eadt Doanh nghi\u1ec7p)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp th\u1eddi gian \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean (t\u1ed1i thi\u1ec3u ph\u00e1p l\u00fd l\u00e0 30 ng\u00e0y)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Giao d\u1ecbch quy\u1ec1n theo m\u00e3 c\u1ee5 th\u1ec3 tr\u00ean B3 (m\u00e3 k\u1ebft th\u00fac b\u1eb1ng &#8220;1&#8221; cho c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng v\u00e0 &#8220;2&#8221; cho c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thanh to\u00e1n cho c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u0103ng k\u00fd theo l\u1ecbch tr\u00ecnh \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t (ti\u1ec1n m\u1eb7t ho\u1eb7c tr\u1ea3 g\u00f3p)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u1ee9ng nh\u1eadn t\u0103ng v\u1ed1n b\u1edfi qu\u1ea3n l\u00fd v\u00e0 th\u00f4ng b\u00e1o cho th\u1ecb tr\u01b0\u1eddng qua Th\u00f4ng b\u00e1o V\u1eadt ch\u1ea5t<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec3u&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu c\u00f3 ngh\u0129a l\u00e0 g\u00ec<\/b>&nbsp;trong th\u1ef1c ti\u1ec5n Brazil cho ph\u00e9p \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh t\u00e0i ch\u00ednh th\u00f4ng minh. Khi m\u1ed9t c\u00f4ng ty nh\u01b0 Petrobras ho\u1eb7c Vale c\u00f4ng b\u1ed1 t\u0103ng v\u1ed1n, c\u00e1c c\u1ed5 \u0111\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c bi\u00ean lai \u0111\u1ea1i di\u1ec7n cho quy\u1ec1n \u01b0u ti\u00ean, c\u00f3 th\u1ec3 giao d\u1ecbch ri\u00eang bi\u1ec7t trong c\u00e1c phi\u00ean B3 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian x\u00e1c \u0111\u1ecbnh, th\u01b0\u1eddng t\u1eeb 30 \u0111\u1ebfn 45 ng\u00e0y.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Thu\u1eadt ng\u1eef k\u1ef9 thu\u1eadt<\/th>\n<th>\u0110\u1ecbnh ngh\u0129a trong b\u1ed1i c\u1ea3nh Brazil<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Quy\u1ec1n \u0111\u0103ng k\u00fd<\/td>\n<td>Quy\u1ec1n \u01b0u ti\u00ean \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu m\u1edbi theo \u0111\u00fang t\u1ef7 l\u1ec7 tham gia c\u1ee7a h\u1ecd (giao d\u1ecbch ri\u00eang tr\u00ean B3)<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 ph\u00e1t h\u00e0nh<\/td>\n<td>Gi\u00e1 tr\u1ecb \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp cho c\u1ed5 phi\u1ebfu m\u1edbi, \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh theo ti\u00eau ch\u00ed c\u1ee7a \u0111i\u1ec1u 170 c\u1ee7a Lu\u1eadt 6.404\/76 (trung b\u00ecnh tr\u1ecdng s\u1ed1, gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n, ho\u1eb7c tri\u1ec3n v\u1ecdng l\u1ee3i nhu\u1eadn)<\/td>\n<\/tr>\n<tr>\n<td>Th\u1eddi gian \u01b0u ti\u00ean<\/td>\n<td>Th\u1eddi gian t\u1ed1i thi\u1ec3u 30 ng\u00e0y \u0111\u01b0\u1ee3c c\u1ea5p cho c\u1ed5 \u0111\u00f4ng \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean c\u1ee7a h\u1ecd (trung b\u00ecnh 38 ng\u00e0y trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a Brazil n\u0103m 2023)<\/td>\n<\/tr>\n<tr>\n<td>C\u1ed5 phi\u1ebfu c\u00f2n l\u1ea1i<\/td>\n<td>C\u1ed5 phi\u1ebfu kh\u00f4ng \u0111\u01b0\u1ee3c \u0111\u0103ng k\u00fd trong th\u1eddi gian ban \u0111\u1ea7u, \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 cho nh\u1eefng ng\u01b0\u1eddi quan t\u00e2m \u0111\u00e3 b\u00e0y t\u1ecf \u00fd \u0111\u1ecbnh tr\u01b0\u1edbc (trung b\u00ecnh 7,5% t\u1ed5ng s\u1ed1 trong n\u0103m 2023)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>N\u1ec1n t\u1ea3ng&nbsp;<b>Pocket Option<\/b>&nbsp;cung c\u1ea5p kh\u00f4ng ch\u1ec9 c\u00e1c t\u00e0i nguy\u00ean gi\u00e1o d\u1ee5c m\u00e0 c\u00f2n c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil hi\u1ec3u m\u1ed9t c\u00e1ch to\u00e1n h\u1ecdc&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u00e0 t\u00ednh to\u00e1n c\u00e1c t\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng \u0111\u1ebfn \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd, bao g\u1ed3m pha lo\u00e3ng, chi ph\u00ed trung b\u00ecnh, v\u00e0 c\u01a1 h\u1ed9i ch\u00eanh l\u1ec7ch gi\u00e1.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 gi\u00e1 tr\u1ecb chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a n\u00f3 trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec3u&nbsp;<b>quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u01b0\u1ee3t qua ki\u1ebfn th\u1ee9c l\u00fd thuy\u1ebft trong b\u1ed1i c\u1ea3nh Brazil. \u0110\u00e2y l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 ph\u00e1p l\u00fd \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o b\u1edfi \u0111i\u1ec1u 171 c\u1ee7a Lu\u1eadt 6.404\/76 cung c\u1ea5p cho c\u1ed5 \u0111\u00f4ng quy\u1ec1n \u01b0u ti\u00ean trong vi\u1ec7c mua c\u1ed5 phi\u1ebfu m\u1edbi khi c\u00f4ng ty th\u1ef1c hi\u1ec7n t\u0103ng v\u1ed1n, t\u1ea1o ra c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o trong th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Quy\u1ec1n \u0111\u0103ng k\u00fd ho\u1ea1t \u0111\u1ed9ng nh\u01b0 m\u1ed9t l\u00e1 ch\u1eafn ch\u1ed1ng l\u1ea1i s\u1ef1 pha lo\u00e3ng kh\u00f4ng t\u1ef1 nguy\u1ec7n c\u1ee7a s\u1ef1 tham gia v\u00e0o c\u00f4ng ty. N\u1ebfu kh\u00f4ng c\u00f3 c\u01a1 ch\u1ebf n\u00e0y, m\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 l\u00fd thuy\u1ebft ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u1edbi gi\u00e1 d\u01b0\u1edbi th\u1ecb tr\u01b0\u1eddng, l\u00e0m pha lo\u00e3ng \u0111\u00e1ng k\u1ec3 c\u00e1c c\u1ed5 \u0111\u00f4ng thi\u1ec3u s\u1ed1. Trong th\u1ef1c ti\u1ec5n Brazil, CVM gi\u00e1m s\u00e1t c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u00e0y, y\u00eau c\u1ea7u gi\u1ea3i th\u00edch k\u1ef9 thu\u1eadt cho gi\u00e1 ph\u00e1t h\u00e0nh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>K\u1ecbch b\u1ea3n th\u1ef1c t\u1ebf<\/th>\n<th>Kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n<\/th>\n<th>Th\u1ef1c hi\u1ec7n quy\u1ec1n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>S\u1edf h\u1eefu c\u1ed5 ph\u1ea7n (tr\u01b0\u1eddng h\u1ee3p Vale n\u0103m 2023)<\/td>\n<td>Gi\u1ea3m t\u1eeb 0,001% xu\u1ed1ng 0,00087% (pha lo\u00e3ng 13%)<\/td>\n<td>Duy tr\u00ec ch\u00ednh x\u00e1c \u1edf m\u1ee9c 0,001%<\/td>\n<\/tr>\n<tr>\n<td>Quy\u1ec1n bi\u1ec3u quy\u1ebft trong \u0111\u1ea1i h\u1ed9i<\/td>\n<td>Gi\u1ea3m t\u1ef7 l\u1ec7 v\u1edbi pha lo\u00e3ng<\/td>\n<td>B\u1ea3o to\u00e0n ho\u00e0n to\u00e0n<\/td>\n<\/tr>\n<tr>\n<td>Ti\u1ebfp x\u00fac kinh t\u1ebf v\u1edbi c\u00f4ng ty<\/td>\n<td>Gi\u1ea3m t\u1ef7 l\u1ec7 m\u00e0 kh\u00f4ng c\u00f3 \u0111\u1ed1i t\u00e1c<\/td>\n<td>T\u0103ng danh ngh\u0129a v\u1edbi \u0111\u1ea7u t\u01b0 b\u1ed5 sung<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eeb&nbsp;<b>Pocket Option<\/b>&nbsp;v\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng kh\u00e1c ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil \u0111\u1ed1i m\u1eb7t v\u1edbi ba l\u1ef1a ch\u1ecdn khi nh\u1eadn \u0111\u01b0\u1ee3c th\u00f4ng b\u00e1o v\u1ec1 quy\u1ec1n \u0111\u0103ng k\u00fd:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1ef1c hi\u1ec7n \u0111\u1ea7y \u0111\u1ee7 quy\u1ec1n, \u0111\u00f3ng g\u00f3p v\u1ed1n b\u1ed5 sung \u0111\u1ec3 duy tr\u00ec t\u1ef7 l\u1ec7 tham gia (l\u1ef1a ch\u1ecdn c\u1ee7a 68% nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil n\u0103m 2023)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u00e1n quy\u1ec1n trong th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p c\u1ee7a B3, l\u1ef1a ch\u1ecdn \u01b0u ti\u00ean cho 22% nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 h\u1ea1n ch\u1ebf thanh kho\u1ea3n<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Cho ph\u00e9p quy\u1ec1n h\u1ebft h\u1ea1n, ch\u1ea5p nh\u1eadn pha lo\u00e3ng t\u1ef7 l\u1ec7 (l\u1ef1a ch\u1ecdn c\u1ee7a 10% nh\u00e0 \u0111\u1ea7u t\u01b0, th\u01b0\u1eddng do thi\u1ebfu ki\u1ebfn th\u1ee9c)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh n\u00ean xem x\u00e9t nhi\u1ec1u y\u1ebfu t\u1ed1, bao g\u1ed3m kh\u00f4ng ch\u1ec9 gi\u00e1 ph\u00e1t h\u00e0nh so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng m\u00e0 c\u00f2n c\u1ea3 d\u1ef1 b\u00e1o t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty, m\u1ee5c \u0111\u00edch c\u1ee5 th\u1ec3 c\u1ee7a ngu\u1ed3n l\u1ef1c, v\u00e0 k\u1ebf ho\u1ea1ch t\u00e0i ch\u00ednh v\u00e0 thu\u1ebf c\u00e1 nh\u00e2n c\u1ee7a b\u1ea1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c th\u1ef1c ti\u1ec5n \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a k\u1ebft qu\u1ea3 v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu t\u1ea1i Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u00fa \u00fd \u0111\u1ebfn c\u00e1c \u0111\u1eb7c th\u00f9 c\u1ee7a th\u1ecb tr\u01b0\u1eddng Brazil. C\u00e1c chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 nh\u1ea5t thay \u0111\u1ed5i theo h\u1ed3 s\u01a1, m\u1ee5c ti\u00eau v\u00e0 th\u1eddi gian c\u1ee7a b\u1ea1n, nh\u01b0ng c\u00f3 nh\u1eefng c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh hi\u1ec7u qu\u1ea3 h\u01a1n trong b\u1ed1i c\u1ea3nh qu\u1ed1c gia.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ph\u00e2n t\u00edch to\u00e1n h\u1ecdc v\u1ec1 chi\u1ebft kh\u1ea5u tr\u00ean gi\u00e1 ph\u00e1t h\u00e0nh c\u1ee7a Brazil<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n \u0111\u1ea7u ti\u00ean l\u00e0 so s\u00e1nh to\u00e1n h\u1ecdc gi\u1eefa gi\u00e1 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi v\u00e0 gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i. T\u1ea1i Brazil, chi\u1ebft kh\u1ea5u trung b\u00ecnh trong c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u0103m 2023 l\u00e0 8,2%, thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 gi\u1eefa c\u00e1c ng\u00e0nh: c\u00f4ng ngh\u1ec7 (11,3%), t\u00e0i ch\u00ednh (6,8%), v\u00e0 h\u00e0ng h\u00f3a (9,1%). Chi\u1ebft kh\u1ea5u n\u00e0y \u0111\u1ea1i di\u1ec7n cho l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng ngay l\u1eadp t\u1ee9c ho\u1eb7c t\u00edn hi\u1ec7u nh\u1eadn th\u1ee9c r\u1ee7i ro c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>K\u1ecbch b\u1ea3n th\u1ecb tr\u01b0\u1eddng<\/th>\n<th>Di\u1ec5n gi\u1ea3i k\u1ef9 thu\u1eadt<\/th>\n<th>Chi\u1ebfn l\u01b0\u1ee3c khuy\u1ebfn ngh\u1ecb cho nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Chi\u1ebft kh\u1ea5u tr\u00ean 10% (v\u00ed d\u1ee5: Weg n\u0103m 2023 v\u1edbi 12,7%)<\/td>\n<td>C\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 ho\u1eb7c c\u1ea3nh b\u00e1o v\u1ec1 s\u1ef1 suy gi\u1ea3m c\u01a1 b\u1ea3n<\/td>\n<td>Ph\u00e2n t\u00edch c\u00e1c ch\u1ec9 s\u1ed1 thanh kho\u1ea3n (CLC &gt; 1,5) v\u00e0 n\u1ee3 (N\u1ee3\/EBITDA &lt; 2,5) tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh<\/td>\n<\/tr>\n<tr>\n<td>Chi\u1ebft kh\u1ea5u gi\u1eefa 3-8% (trung b\u00ecnh Ibovespa)<\/td>\n<td>\u0110\u1ecbnh gi\u00e1 c\u00e2n b\u1eb1ng v\u1edbi khuy\u1ebfn kh\u00edch nh\u1ecf<\/td>\n<td>\u0110\u00e1nh gi\u00e1 m\u1ee5c \u0111\u00edch c\u1ee5 th\u1ec3 c\u1ee7a ngu\u1ed3n l\u1ef1c v\u00e0 ROI d\u1ef1 ki\u1ebfn c\u1ee7a \u0111\u1ea7u t\u01b0<\/td>\n<\/tr>\n<tr>\n<td>Ph\u00e1t h\u00e0nh v\u1edbi gi\u00e1 cao h\u01a1n th\u1ecb tr\u01b0\u1eddng (hi\u1ebfm, nh\u01b0ng x\u1ea3y ra v\u1edbi Magalu n\u0103m 2022)<\/td>\n<td>K\u1ef3 v\u1ecdng t\u0103ng gi\u00e1 \u0111\u00e1ng k\u1ec3 ho\u1eb7c l\u1ea1c quan qu\u00e1 m\u1ee9c<\/td>\n<td>Y\u00eau c\u1ea7u c\u00e1c d\u1ef1 b\u00e1o chi ti\u1ebft v\u1edbi c\u00e1c gi\u1ea3 \u0111\u1ecbnh c\u00f3 th\u1ec3 ki\u1ec3m ch\u1ee9ng v\u00e0 so s\u00e1nh theo ng\u00e0nh<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p c\u00e1c m\u00e1y t\u00ednh chuy\u00ean d\u1ee5ng cho ph\u00e9p c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil \u0111\u1ecbnh l\u01b0\u1ee3ng ch\u00ednh x\u00e1c c\u00e1c k\u1ecbch b\u1ea3n n\u00e0y, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u00e1c quy\u1ebft \u0111\u1ecbnh th\u00f4ng minh v\u1ec1&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;ho\u1eb7c giao d\u1ecbch quy\u1ec1n trong th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p c\u1ee7a B3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c bi\u1ec7t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil bao g\u1ed3m ph\u00e2n t\u00edch chi ti\u1ebft v\u1ec1 m\u1ee5c \u0111\u00edch c\u1ee7a vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n. D\u1eef li\u1ec7u ANBIMA cho th\u1ea5y, t\u1eeb n\u0103m 2020-2023, c\u00e1c c\u00f4ng ty t\u0103ng v\u1ed1n cho m\u1edf r\u1ed9ng h\u1eefu c\u01a1 t\u1ea1o ra l\u1ee3i nhu\u1eadn trung b\u00ecnh cao h\u01a1n 22% trong 12 th\u00e1ng so v\u1edbi nh\u1eefng c\u00f4ng ty huy \u0111\u1ed9ng \u0111\u1ec3 gi\u1ea3m n\u1ee3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n cho m\u1edf r\u1ed9ng l\u00e3nh th\u1ed5 (nh\u01b0 Assa\u00ed v\u00e0 Mateus \u0111\u00e3 l\u00e0m n\u0103m 2022): l\u1ee3i nhu\u1eadn trung b\u00ecnh +27,4% trong 12 th\u00e1ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n cho c\u00e1c v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c (tr\u01b0\u1eddng h\u1ee3p Hapvida\/NotreDame): hi\u1ec7u su\u1ea5t t\u01b0\u01a1ng \u0111\u1ed1i +18,9% so v\u1edbi ng\u00e0nh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n \u0111\u1ec3 gi\u1ea3m \u0111\u00f2n b\u1ea9y t\u00e0i ch\u00ednh: ph\u1ee5c h\u1ed3i m\u1ed9t ph\u1ea7n v\u1edbi +8,2% trong k\u1ecbch b\u1ea3n gi\u1ea3m l\u00e3i su\u1ea5t<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Huy \u0111\u1ed9ng v\u1ed1n kh\u1ea9n c\u1ea5p cho v\u1ed1n l\u01b0u \u0111\u1ed9ng: t\u00edn hi\u1ec7u v\u00e0ng v\u1edbi hi\u1ec7u su\u1ea5t trung b\u00ecnh -12,7% trong n\u0103m ti\u1ebfp theo<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kh\u00f4ng c\u00f3 c\u00f4ng th\u1ee9c chung n\u00e0o v\u1ec1 khi n\u00e0o&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;s\u1ebd c\u00f3 l\u1ee3i trong th\u1ecb tr\u01b0\u1eddng Brazil. Quy\u1ebft \u0111\u1ecbnh \u0111\u00f2i h\u1ecfi ph\u00e2n t\u00edch c\u1ee5 th\u1ec3 xem x\u00e9t h\u01a1n 15 bi\u1ebfn s\u1ed1, bao g\u1ed3m: chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p, m\u1ee5c \u0111\u00edch c\u1ee7a ngu\u1ed3n l\u1ef1c, l\u1ecbch s\u1eed ph\u00e2n b\u1ed5 v\u1ed1n c\u1ee7a qu\u1ea3n l\u00fd, v\u00e0 tri\u1ec3n v\u1ecdng ng\u00e0nh trong 24 th\u00e1ng t\u1edbi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c c\u00e2n nh\u1eafc thu\u1ebf c\u1ee5 th\u1ec3 trong \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu cho ng\u01b0\u1eddi n\u1ed9p thu\u1ebf Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i Brazil, hi\u1ec3u v\u1ec1 c\u00e1ch x\u1eed l\u00fd thu\u1ebf c\u1ee7a&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a k\u1ebft qu\u1ea3 t\u00e0i ch\u00ednh. Lu\u1eadt ph\u00e1p Brazil thi\u1ebft l\u1eadp c\u00e1c quy t\u1eafc c\u1ee5 th\u1ec3 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a h\u00ecnh th\u1ee9c \u0111\u1ea7u t\u01b0 n\u00e0y.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo H\u01b0\u1edbng d\u1eabn Quy ph\u1ea1m RFB 1585\/2015, khi b\u1ea1n th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ee7a m\u00ecnh t\u1ea1i Brazil, mua c\u1ed5 phi\u1ebfu m\u1edbi, kh\u00f4ng c\u00f3 s\u1ef1 ki\u1ec7n t\u1ea1o thu\u1ebf ngay l\u1eadp t\u1ee9c x\u1ea3y ra. Thu\u1ebf s\u1ebd \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng ch\u1ec9 khi b\u00e1n trong t\u01b0\u01a1ng lai, khi l\u1ee3i nhu\u1eadn v\u1ed1n s\u1ebd \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed mua trung b\u00ecnh tr\u1ecdng s\u1ed1 (bao g\u1ed3m gi\u00e1 tr\u1ecb \u0111\u00e3 tr\u1ea3 trong \u0111\u0103ng k\u00fd).<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ho\u1ea1t \u0111\u1ed9ng trong th\u1ecb tr\u01b0\u1eddng Brazil<\/th>\n<th>Thu\u1ebf su\u1ea5t<\/th>\n<th>T\u1ef7 l\u1ec7 \u00e1p d\u1ee5ng (2024)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd<\/td>\n<td>Kh\u00f4ng b\u1ecb \u0111\u00e1nh thu\u1ebf t\u1ea1i th\u1eddi \u0111i\u1ec3m th\u1ef1c hi\u1ec7n<\/td>\n<td>Mi\u1ec5n thu\u1ebf trong h\u00e0nh \u0111\u1ed9ng<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n quy\u1ec1n \u0111\u0103ng k\u00fd tr\u00ean B3<\/td>\n<td>L\u1ee3i nhu\u1eadn v\u1ed1n v\u1edbi chi ph\u00ed mua b\u1eb1ng kh\u00f4ng<\/td>\n<td>15% tr\u00ean gi\u00e1 tr\u1ecb to\u00e0n b\u1ed9 (thu qua DARF \u0111\u1ebfn ng\u00e0y l\u00e0m vi\u1ec7c cu\u1ed1i c\u00f9ng c\u1ee7a th\u00e1ng ti\u1ebfp theo)<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n trong t\u01b0\u01a1ng lai c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 mua trong \u0111\u0103ng k\u00fd<\/td>\n<td>L\u1ee3i nhu\u1eadn v\u1ed1n tr\u00ean s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed trung b\u00ecnh<\/td>\n<td>Ti\u1ebfn b\u1ed9: 15% \u0111\u1ebfn 5 tri\u1ec7u R$; 17,5% gi\u1eefa 5-10 tri\u1ec7u R$; 20% gi\u1eefa 10-30 tri\u1ec7u R$; 22,5% tr\u00ean 30 tri\u1ec7u R$<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kh\u00eda c\u1ea1nh quan tr\u1ecdng cho ng\u01b0\u1eddi n\u1ed9p thu\u1ebf Brazil: chi ph\u00ed trung b\u00ecnh c\u1ee7a vi\u1ec7c mua c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh l\u1ea1i sau khi \u0111\u0103ng k\u00fd, bao g\u1ed3m c\u1ed5 phi\u1ebfu m\u1edbi mua. Vi\u1ec7c t\u00ednh l\u1ea1i n\u00e0y tu\u00e2n theo c\u00f4ng th\u1ee9c \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi H\u01b0\u1edbng d\u1eabn Quy ph\u1ea1m RFB 1585\/2015, \u0111i\u1ec1u 56:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Chi ph\u00ed trung b\u00ecnh = (S\u1ed1 l\u01b0\u1ee3ng c\u0169 \u00d7 Gi\u00e1 trung b\u00ecnh tr\u01b0\u1edbc \u0111\u00f3) + (S\u1ed1 l\u01b0\u1ee3ng \u0111\u00e3 \u0111\u0103ng k\u00fd \u00d7 Gi\u00e1 \u0111\u0103ng k\u00fd) \u00f7 (T\u1ed5ng s\u1ed1 l\u01b0\u1ee3ng sau khi \u0111\u0103ng k\u00fd)<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p m\u1ed9t c\u00f4ng c\u1ee5 t\u00ednh to\u00e1n thu\u1ebf \u0111\u1ed9c quy\u1ec1n gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil m\u00f4 ph\u1ecfng c\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf v\u00e0 t\u00ednh to\u00e1n chi ph\u00ed trung b\u00ecnh sau c\u00e1c s\u1ef1 ki\u1ec7n&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u1ea3 vi\u1ec7c l\u1eadp k\u1ebf ho\u1ea1ch v\u00e0 tu\u00e2n th\u1ee7 thu\u1ebf v\u1edbi C\u1ee5c Thu\u1ebf Li\u00ean bang.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Kinh nghi\u1ec7m th\u1ef1c t\u1ebf v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng Brazil: c\u00e1c tr\u01b0\u1eddng h\u1ee3p th\u1ef1c ti\u1ec5n<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 minh h\u1ecda c\u1ee5 th\u1ec3 c\u00e1ch&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;ho\u1ea1t \u0111\u1ed9ng t\u1ea1i Brazil, h\u00e3y ph\u00e2n t\u00edch c\u00e1c tr\u01b0\u1eddng h\u1ee3p g\u1ea7n \u0111\u00e2y cho th\u1ea5y c\u00e1c k\u1ecbch b\u1ea3n v\u00e0 k\u1ebft qu\u1ea3 kh\u00e1c nhau trong th\u1ecb tr\u01b0\u1eddng qu\u1ed1c gia.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u00e0o th\u00e1ng 1 n\u0103m 2023, Banco BTG Pactual \u0111\u00e3 th\u1ef1c hi\u1ec7n t\u0103ng v\u1ed1n 2,7 t\u1ef7 R$ \u0111\u1ec3 c\u1ee7ng c\u1ed1 c\u1ea5u tr\u00fac v\u1ed1n v\u00e0 t\u00e0i tr\u1ee3 cho m\u1edf r\u1ed9ng k\u1ef9 thu\u1eadt s\u1ed1. C\u00e1c c\u1ed5 \u0111\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u0111\u0103ng k\u00fd theo t\u1ef7 l\u1ec7 1:10 (m\u1ed9t m\u1edbi cho m\u1ed7i m\u01b0\u1eddi \u0111\u00e3 n\u1eafm gi\u1eef), v\u1edbi chi\u1ebft kh\u1ea5u 6,5% tr\u00ean gi\u00e1 trung b\u00ecnh tr\u1ecdng s\u1ed1 c\u1ee7a 30 phi\u00ean giao d\u1ecbch tr\u01b0\u1edbc \u0111\u00f3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>C\u00f4ng ty Brazil<\/th>\n<th>Ng\u00e0y ho\u1ea1t \u0111\u1ed9ng<\/th>\n<th>T\u1ef7 l\u1ec7<\/th>\n<th>Chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p<\/th>\n<th>Hi\u1ec7u su\u1ea5t t\u01b0\u01a1ng \u0111\u1ed1i (so v\u1edbi Ibovespa sau 6 th\u00e1ng)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>BTG Pactual (BPAC11)<\/td>\n<td>Th\u00e1ng 1\/2023<\/td>\n<td>1:10<\/td>\n<td>6,5%<\/td>\n<td>+17,8% (v\u01b0\u1ee3t tr\u1ed9i h\u01a1n Ibovespa 12,3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m)<\/td>\n<\/tr>\n<tr>\n<td>Magazine Luiza (MGLU3)<\/td>\n<td>Th\u00e1ng 3\/2023<\/td>\n<td>1:4<\/td>\n<td>3,2%<\/td>\n<td>-10,5% (hi\u1ec7u su\u1ea5t k\u00e9m h\u01a1n 15,1 p.p. so v\u1edbi ch\u1ec9 s\u1ed1)<\/td>\n<\/tr>\n<tr>\n<td>MRV Engenharia (MRVE3)<\/td>\n<td>Th\u00e1ng 6\/2023<\/td>\n<td>1:5<\/td>\n<td>11,7%<\/td>\n<td>+25,3% (v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n 18,7 p.p.)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Kh\u00e1ch h\u00e0ng c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;tham gia v\u00e0o \u0111\u0103ng k\u00fd c\u1ee7a MRV \u0111\u00e3 b\u00e1o c\u00e1o m\u1ed9t tr\u1ea3i nghi\u1ec7m \u0111\u1eb7c bi\u1ec7t t\u00edch c\u1ef1c. Chi\u1ebft kh\u1ea5u \u1ea5n t\u01b0\u1ee3ng 11,7% \u0111\u00e3 thu h\u00fat nhu c\u1ea7u m\u1ea1nh m\u1ebd, v\u1edbi t\u1ef7 l\u1ec7 th\u1ef1c hi\u1ec7n 92,3% quy\u1ec1n. M\u1ee5c \u0111\u00edch r\u00f5 r\u00e0ng c\u1ee7a ngu\u1ed3n l\u1ef1c cho vi\u1ec7c mua l\u1ea1i \u0111\u1ea5t chi\u1ebfn l\u01b0\u1ee3c \u1edf c\u00e1c khu v\u1ef1c c\u00f3 thi\u1ebfu h\u1ee5t nh\u00e0 \u1edf 1,5 tri\u1ec7u \u0111\u01a1n v\u1ecb \u0111\u00e3 \u0111\u00f3ng g\u00f3p quy\u1ebft \u0111\u1ecbnh v\u00e0o s\u1ef1 t\u0103ng gi\u00e1 sau \u0111\u00f3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tuy nhi\u00ean, tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Magazine Luiza cho th\u1ea5y kh\u00f4ng ph\u1ea3i m\u1ecdi \u0111\u0103ng k\u00fd \u0111\u1ec1u mang l\u1ea1i l\u1ee3i nhu\u1eadn ngay l\u1eadp t\u1ee9c trong th\u1ecb tr\u01b0\u1eddng Brazil. M\u1eb7c d\u00f9 c\u00f3 chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p, c\u00f4ng ty \u0111\u00e3 \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 c\u1ea1nh tranh gia t\u0103ng trong th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn b\u1ecb n\u00e9n 3,7 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong n\u1eeda n\u0103m ti\u1ebfp theo, d\u1eabn \u0111\u1ebfn hi\u1ec7u su\u1ea5t k\u00e9m h\u01a1n so v\u1edbi ch\u1ec9 s\u1ed1 Ibovespa.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u1eefng kinh nghi\u1ec7m th\u1ef1c t\u1ebf n\u00e0y trong th\u1ecb tr\u01b0\u1eddng qu\u1ed1c gia c\u1ee7ng c\u1ed1 s\u1ef1 c\u1ea7n thi\u1ebft ph\u1ea3i ph\u00e2n t\u00edch t\u1eebng c\u01a1 h\u1ed9i&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;m\u1ed9t c\u00e1ch ri\u00eang l\u1ebb, kh\u00f4ng ch\u1ec9 xem x\u00e9t chi\u1ebft kh\u1ea5u to\u00e1n h\u1ecdc \u0111\u01b0\u1ee3c cung c\u1ea5p m\u00e0 ch\u1ee7 y\u1ebfu l\u00e0 c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n c\u1ee7a c\u00f4ng ty, kh\u1ea3 n\u0103ng th\u1ef1c thi c\u1ee7a qu\u1ea3n l\u00fd, v\u00e0 k\u1ecbch b\u1ea3n c\u1ea1nh tranh c\u1ee7a ng\u00e0nh trong 24 th\u00e1ng t\u1edbi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Nh\u1eefng sai l\u1ea7m ph\u1ed5 bi\u1ebfn c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil v\u00e0 c\u00e1ch tr\u00e1nh ch\u00fang trong \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngay c\u1ea3 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kinh nghi\u1ec7m c\u0169ng m\u1eafc ph\u1ea3i nh\u1eefng sai l\u1ea7m c\u1ee5 th\u1ec3 khi x\u1eed l\u00fd&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;trong b\u1ed1i c\u1ea3nh Brazil. X\u00e1c \u0111\u1ecbnh c\u00e1c m\u1eabu l\u1ed7i ph\u1ed5 bi\u1ebfn nh\u1ea5t c\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a b\u1ea1n trong th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ho\u00e0n to\u00e0n b\u1ecf qua th\u00f4ng b\u00e1o quy\u1ec1n \u0111\u0103ng k\u00fd, d\u1eabn \u0111\u1ebfn pha lo\u00e3ng trung b\u00ecnh 12,3% m\u00e0 kh\u00f4ng ph\u00e2n t\u00edch c\u01a1 h\u1ed9i (l\u1ed7i c\u1ee7a 38% nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb theo nghi\u00ean c\u1ee9u c\u1ee7a B3 n\u0103m 2023)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef1 \u0111\u1ed9ng \u0111\u0103ng k\u00fd do g\u1eafn b\u00f3 t\u00ecnh c\u1ea3m v\u1edbi c\u00f4ng ty, m\u00e0 kh\u00f4ng ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u1ec1 ho\u1ea1t \u0111\u1ed9ng v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a n\u00f3 \u0111\u1ebfn b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n (h\u00e0nh vi c\u1ee7a 27% nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Qu\u00e1 m\u1ee9c cam k\u1ebft thanh kho\u1ea3n c\u00e1 nh\u00e2n \u0111\u1ec3 tr\u00e1nh pha lo\u00e3ng, l\u00e0m m\u1ea5t c\u00e2n b\u1eb1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 t\u1ea1o ra nhu c\u1ea7u b\u00e1n s\u1edbm c\u00e1c t\u00e0i s\u1ea3n kh\u00e1c<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng ch\u00fa \u00fd \u0111\u1ebfn l\u1ecbch tr\u00ecnh c\u1ee5 th\u1ec3 c\u1ee7a ho\u1ea1t \u0111\u1ed9ng, b\u1ecf l\u1ee1 c\u00e1c th\u1eddi h\u1ea1n quan tr\u1ecdng (th\u1eddi h\u1ea1n th\u1ef1c hi\u1ec7n v\u00e0 thanh to\u00e1n)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng \u0111\u00e1nh gi\u00e1 m\u1ed9t c\u00e1ch ph\u00ea ph\u00e1n m\u1ee5c \u0111\u00edch s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c \u0111\u00e3 tuy\u00ean b\u1ed1 trong b\u1ed1i c\u1ea3nh ng\u00e0nh c\u1ee7a Brazil<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>L\u1ed7i \u0111\u1eb7c bi\u1ec7t ph\u1ed5 bi\u1ebfn trong s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil l\u00e0 s\u1ef1 thi\u1ebfu ph\u00e2n t\u00edch ph\u00ea ph\u00e1n khi nh\u1eadn \u0111\u01b0\u1ee3c th\u00f4ng b\u00e1o \u0111\u0103ng k\u00fd. Nghi\u00ean c\u1ee9u c\u1ee7a ANBIMA ti\u1ebft l\u1ed9 r\u1eb1ng 68% t\u1ef1 \u0111\u1ed9ng th\u1ef1c hi\u1ec7n quy\u1ec1n v\u00ec s\u1ee3 pha lo\u00e3ng, m\u00e0 kh\u00f4ng xem x\u00e9t t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn chi ph\u00ed trung b\u00ecnh v\u00e0 l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng c\u1ee7a v\u1ed1n b\u1ed5 sung t\u1ea1i th\u1eddi \u0111i\u1ec3m c\u1ee5 th\u1ec3 c\u1ee7a chu k\u1ef3 kinh t\u1ebf.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;khuy\u1ebfn ngh\u1ecb r\u1eb1ng c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil n\u00ean \u0111\u00e1nh gi\u00e1 ph\u00ea ph\u00e1n c\u00e1c kh\u00eda c\u1ea1nh k\u1ef9 thu\u1eadt sau tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Kh\u00eda c\u1ea1nh c\u01a1 b\u1ea3n<\/th>\n<th>C\u00e2u h\u1ecfi k\u1ef9 thu\u1eadt cho ph\u00e2n t\u00edch Brazil<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0110\u1ed9ng c\u01a1 huy \u0111\u1ed9ng v\u1ed1n<\/td>\n<td>C\u00f4ng ty c\u00f3 \u0111ang huy \u0111\u1ed9ng \u0111\u1ec3 t\u00e0i tr\u1ee3 cho t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng hay \u0111\u1ec3 gi\u1ea3i quy\u1ebft v\u1ea5n \u0111\u1ec1 thanh kho\u1ea3n? K\u1ebf ho\u1ea1ch s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c c\u00f3 tr\u00ecnh b\u00e0y ROI c\u1ee5 th\u1ec3 v\u00e0 c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng \u0111\u01b0\u1ee3c kh\u00f4ng? Hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed c\u1ee7a qu\u1ea3n l\u00fd trong ph\u00e2n b\u1ed5 v\u1ed1n l\u00e0 g\u00ec?<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ecbnh gi\u00e1 ph\u00e1t h\u00e0nh<\/td>\n<td>Chi\u1ebft kh\u1ea5u \u0111\u01b0\u1ee3c cung c\u1ea5p c\u00f3 b\u00f9 \u0111\u1eafp \u0111\u1ee7 r\u1ee7i ro trong m\u00f4i tr\u01b0\u1eddng kinh t\u1ebf v\u0129 m\u00f4 hi\u1ec7n t\u1ea1i c\u1ee7a Brazil kh\u00f4ng? Gi\u00e1 so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd \u0111\u01b0\u1ee3c \u01b0\u1edbc t\u00ednh b\u1edfi 5 ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 l\u1edbn nh\u1ea5t nh\u01b0 th\u1ebf n\u00e0o?<\/td>\n<\/tr>\n<tr>\n<td>T\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n<\/td>\n<td>T\u00f4i c\u00f3 ngu\u1ed3n l\u1ef1c m\u00e0 kh\u00f4ng l\u00e0m \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn d\u1ef1 tr\u1eef kh\u1ea9n c\u1ea5p c\u1ee7a m\u00ecnh (t\u1ed1i thi\u1ec3u 6 th\u00e1ng chi ph\u00ed t\u1ea1i Brazil) v\u00e0 \u0111a d\u1ea1ng h\u00f3a t\u00e0i s\u1ea3n kh\u00f4ng?<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng \u0111i\u1ec1u ch\u1ec9nh r\u1ee7i ro<\/td>\n<td>C\u00f3 tri\u1ec3n v\u1ecdng \u0111\u01b0\u1ee3c ch\u1ee9ng minh r\u1eb1ng v\u1ed1n b\u1ed5 sung s\u1ebd t\u1ea1o ra ROIC cao h\u01a1n chi ph\u00ed v\u1ed1n trong kho\u1ea3ng th\u1eddi gian 24-36 th\u00e1ng trong k\u1ecbch b\u1ea3n Brazil kh\u00f4ng?<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t sai l\u1ea7m \u0111\u00e1ng k\u1ec3 kh\u00e1c l\u00e0 kh\u00f4ng hi\u1ec3u \u0111\u1ea7y \u0111\u1ee7&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu c\u00f3 ngh\u0129a l\u00e0 g\u00ec<\/b>&nbsp;v\u1ec1 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 th\u1ecb tr\u01b0\u1eddng. D\u1ef1 ki\u1ebfn to\u00e1n h\u1ecdc r\u1eb1ng sau khi c\u00f4ng b\u1ed1 \u0111\u0103ng k\u00fd v\u1edbi chi\u1ebft kh\u1ea5u, gi\u00e1 s\u1ebd ch\u1ecbu s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt. Chuy\u1ec3n \u0111\u1ed9ng n\u00e0y kh\u00f4ng \u0111\u1ea1i di\u1ec7n cho s\u1ef1 suy gi\u1ea3m c\u01a1 b\u1ea3n, m\u00e0 l\u00e0 s\u1ef1 c\u00e2n b\u1eb1ng l\u1ea1i xem x\u00e9t pha lo\u00e3ng ti\u1ec1m n\u0103ng v\u00e0 gi\u00e1 trung b\u00ecnh tr\u1ecdng s\u1ed1 m\u1edbi.<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: T\u1ed1i \u0111a h\u00f3a k\u1ebft qu\u1ea3 v\u1edbi \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong th\u1ecb tr\u01b0\u1eddng Brazil<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;\u0111\u1ea1i di\u1ec7n cho m\u1ed9t c\u00f4ng c\u1ee5 chi\u1ebfn l\u01b0\u1ee3c trong kho v\u0169 kh\u00ed c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 ho\u1ea1t \u0111\u1ed9ng trong th\u1ecb tr\u01b0\u1eddng Brazil. Khi \u0111\u01b0\u1ee3c hi\u1ec3u s\u00e2u s\u1eafc v\u00e0 s\u1eed d\u1ee5ng v\u1edbi c\u00e1c ti\u00eau ch\u00ed k\u1ef9 thu\u1eadt nghi\u00eam ng\u1eb7t, n\u00f3 cung c\u1ea5p c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ed9c \u0111\u00e1o \u0111\u1ec3 c\u1ee7ng c\u1ed1 v\u1ecb tr\u00ed trong c\u00e1c c\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc ho\u1eb7c b\u1eaft \u0111\u1ea7u tham gia trong \u0111i\u1ec1u ki\u1ec7n gi\u00e1 \u01b0u \u0111\u00e3i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u01b0 ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ee9ng minh trong su\u1ed1t ph\u00e2n t\u00edch n\u00e0y, hi\u1ec3u&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u01b0\u1ee3t qua \u0111\u1ecbnh ngh\u0129a k\u1ef9 thu\u1eadt trong b\u1ed1i c\u1ea3nh Brazil. N\u00f3 bao g\u1ed3m vi\u1ec7c n\u1eafm v\u1eefng c\u00e1c kh\u00eda c\u1ea1nh quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 c\u1ee7a CVM, hi\u1ec3u c\u00e1c quy\u1ec1n c\u1ee7a c\u00f4ng ty \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o b\u1edfi Lu\u1eadt 6.404\/76, t\u00ednh to\u00e1n c\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf theo lu\u1eadt thu\u1ebf hi\u1ec7n h\u00e0nh, v\u00e0 ph\u00e1t tri\u1ec3n kh\u1ea3 n\u0103ng ph\u00e2n t\u00edch \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 t\u1eebng t\u00ecnh hu\u1ed1ng theo gi\u00e1 tr\u1ecb ri\u00eang c\u1ee7a n\u00f3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Trong th\u1ecb tr\u01b0\u1eddng Brazil, \u0111\u01b0\u1ee3c \u0111\u1eb7c tr\u01b0ng b\u1edfi s\u1ef1 bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n m\u1ee9c trung b\u00ecnh to\u00e0n c\u1ea7u (21,3% so v\u1edbi 17,5% c\u1ee7a c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n) v\u00e0 c\u00e1c \u0111\u1eb7c th\u00f9 quy \u0111\u1ecbnh, quy\u1ebft \u0111\u1ecbnh&nbsp;<b>\u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu<\/b>&nbsp;y\u00eau c\u1ea7u ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt nghi\u00eam ng\u1eb7t, xem x\u00e9t kh\u00f4ng ch\u1ec9 c\u00e1c kh\u00eda c\u1ea1nh c\u01a1 b\u1ea3n c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh m\u00e0 c\u00f2n c\u1ea3 v\u1ecb tr\u00ed t\u00e0i s\u1ea3n c\u1ee7a b\u1ea1n v\u00e0 c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'><b>Pocket Option<\/b>&nbsp;cung c\u1ea5p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Brazil c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ed9c quy\u1ec1n \u0111\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng c\u00e1c quy\u1ebft \u0111\u1ecbnh ph\u1ee9c t\u1ea1p n\u00e0y, bao g\u1ed3m m\u00e1y t\u00ednh pha lo\u00e3ng, m\u00f4 ph\u1ecfng t\u00e1c \u0111\u1ed9ng thu\u1ebf, v\u00e0 ph\u00e2n t\u00edch so s\u00e1nh theo ng\u00e0nh \u0111\u1ecbnh l\u01b0\u1ee3ng hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed c\u1ee7a c\u00e1c \u0111\u0103ng k\u00fd theo ng\u00e0nh v\u00e0 quy m\u00f4 c\u00f4ng ty.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u01b0 trong b\u1ea5t k\u1ef3 quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 n\u00e0o trong th\u1ecb tr\u01b0\u1eddng Brazil, kh\u00f4ng c\u00f3 c\u00e2u tr\u1ea3 l\u1eddi chung \u00e1p d\u1ee5ng cho t\u1ea5t c\u1ea3 c\u00e1c k\u1ecbch b\u1ea3n \u0111\u0103ng k\u00fd. M\u1ed7i c\u01a1 h\u1ed9i n\u00ean \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 k\u1ef9 thu\u1eadt, xem x\u00e9t kh\u00f4ng ch\u1ec9 chi\u1ebft kh\u1ea5u to\u00e1n h\u1ecdc \u0111\u01b0\u1ee3c cung c\u1ea5p m\u00e0 ch\u1ee7 y\u1ebfu l\u00e0 b\u1ed1i c\u1ea3nh kinh t\u1ebf v\u0129 m\u00f4 hi\u1ec7n t\u1ea1i (l\u00e3i su\u1ea5t Selic, l\u1ea1m ph\u00e1t d\u1ef1 ki\u1ebfn, v\u00e0 ph\u00ed r\u1ee7i ro), s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3 c\u1ee7a c\u00f4ng ty, v\u00e0 v\u1ecb tr\u00ed c\u1ea1nh tranh c\u1ee7a n\u00f3 trong ng\u00e0nh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>B\u1eb1ng c\u00e1ch ho\u00e0n to\u00e0n n\u1eafm v\u1eefng&nbsp;<b>quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec<\/b>&nbsp;v\u00e0 th\u1ef1c hi\u1ec7n ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n t\u00edch c\u00f3 c\u1ea5u tr\u00fac, b\u1ea1n s\u1ebd \u0111\u01b0\u1ee3c chu\u1ea9n b\u1ecb t\u1ed1t h\u01a1n \u0111\u00e1ng k\u1ec3 \u0111\u1ec3 khai th\u00e1c gi\u00e1 tr\u1ecb t\u1eeb c\u00e1c ho\u1ea1t \u0111\u1ed9ng n\u00e0y v\u00e0 c\u00f3 kh\u1ea3 n\u0103ng v\u01b0\u1ee3t tr\u1ed9i h\u01a1n so v\u1edbi l\u1ee3i nhu\u1eadn trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ed1n Brazil, \u0111\u00e3 ghi nh\u1eadn s\u1ef1 t\u0103ng tr\u01b0\u1edfng 132% trong s\u1ed1 l\u01b0\u1ee3ng t\u00e0i kho\u1ea3n ho\u1ea1t \u0111\u1ed9ng tr\u00ean B3 trong n\u0103m n\u0103m qua.<\/p>\n<\/div>\n"},"faq":[{"question":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 n\u00f3 ho\u1ea1t \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o trong th\u1ef1c t\u1ebf?","answer":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 qu\u00e1 tr\u00ecnh m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mua c\u1ed5 phi\u1ebfu m\u1edbi do c\u00f4ng ty ph\u00e1t h\u00e0nh trong m\u1ed9t \u0111\u1ee3t t\u0103ng v\u1ed1n. Trong th\u1ef1c t\u1ebf, khi m\u1ed9t c\u00f4ng ty quy\u1ebft \u0111\u1ecbnh ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi, c\u00f4ng ty s\u1ebd c\u1ea5p cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu quy\u1ec1n \u01b0u ti\u00ean \u0111\u1ec3 mua ch\u00fang, th\u01b0\u1eddng l\u00e0 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n n\u00e0y. N\u1ebfu b\u1ea1n \u0111\u00e3 l\u00e0 c\u1ed5 \u0111\u00f4ng, b\u1ea1n s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u0111\u0103ng k\u00fd t\u01b0\u01a1ng \u1ee9ng v\u1edbi t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a b\u1ea1n, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n (b\u1eb1ng c\u00e1ch mua c\u1ed5 phi\u1ebfu m\u1edbi) ho\u1eb7c b\u00e1n tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa quy\u1ec1n \u0111\u0103ng k\u00fd v\u00e0 ti\u1ec1n th\u01b0\u1edfng \u0111\u0103ng k\u00fd l\u00e0 g\u00ec?","answer":"Quy\u1ec1n \u0111\u0103ng k\u00fd mua c\u1ed5 ph\u1ea7n t\u1ea1m th\u1eddi \u0111\u01b0\u1ee3c c\u1ea5p cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu trong qu\u00e1 tr\u00ecnh t\u0103ng v\u1ed1n, \u0111\u1ea3m b\u1ea3o \u01b0u ti\u00ean trong vi\u1ec7c mua c\u1ed5 ph\u1ea7n m\u1edbi. Ng\u01b0\u1ee3c l\u1ea1i, th\u01b0\u1edfng \u0111\u0103ng k\u00fd l\u00e0 ch\u1ee9ng kho\u00e1n cho ph\u00e9p ng\u01b0\u1eddi s\u1edf h\u1eefu quy\u1ec1n \u0111\u0103ng k\u00fd mua c\u1ed5 ph\u1ea7n theo c\u00e1c \u0111i\u1ec1u ki\u1ec7n \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp tr\u01b0\u1edbc, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi ch\u00ednh c\u00f4ng ty v\u00e0 c\u00f3 th\u1eddi h\u1ea1n d\u00e0i h\u01a1n. Trong khi quy\u1ec1n \u0111\u01b0\u1ee3c li\u00ean k\u1ebft v\u1edbi m\u1ed9t qu\u00e1 tr\u00ecnh t\u0103ng v\u1ed1n c\u1ee5 th\u1ec3, th\u01b0\u1edfng l\u00e0 m\u1ed9t ch\u1ee9ng kho\u00e1n \u0111\u1ed9c l\u1eadp c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c giao d\u1ecbch trong th\u1eddi gian d\u00e0i h\u01a1n."},{"question":"C\u00e1ch t\u00ednh gi\u00e1 l\u00fd thuy\u1ebft c\u1ee7a quy\u1ec1n \u0111\u0103ng k\u00fd?","answer":"Gi\u00e1 l\u00fd thuy\u1ebft c\u1ee7a quy\u1ec1n mua c\u1ed5 ph\u1ea7n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c: (Gi\u00e1 c\u1ed5 phi\u1ebfu hi\u1ec7n t\u1ea1i - Gi\u00e1 ph\u00e1t h\u00e0nh) \u00f7 (1 + T\u1ef7 l\u1ec7 quy\u1ec1n mua). V\u00ed d\u1ee5, n\u1ebfu m\u1ed9t c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 R$50, gi\u00e1 ph\u00e1t h\u00e0nh l\u00e0 R$45, v\u00e0 t\u1ef7 l\u1ec7 l\u00e0 1 m\u1edbi cho m\u1ed7i 5 c\u1ed5 phi\u1ebfu c\u0169, th\u00ec ph\u00e9p t\u00ednh s\u1ebd l\u00e0: (R$50 - R$45) \u00f7 (1 + 1\/5) = R$5 \u00f7 1.2 = R$4.17 m\u1ed7i quy\u1ec1n. Tuy nhi\u00ean, c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 thanh kho\u1ea3n v\u00e0 k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 l\u00e0m cho gi\u00e1 giao d\u1ecbch th\u1ef1c t\u1ebf kh\u00e1c v\u1edbi gi\u00e1 l\u00fd thuy\u1ebft."},{"question":"T\u00f4i c\u00f3 n\u00ean lu\u00f4n th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ee7a m\u00ecnh kh\u00f4ng?","answer":"Kh\u00f4ng nh\u1ea5t thi\u1ebft. Quy\u1ebft \u0111\u1ecbnh n\u00ean xem x\u00e9t c\u00e1c y\u1ebfu t\u1ed1 kh\u00e1c nhau: gi\u00e1 ph\u00e1t h\u00e0nh so v\u1edbi gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng v\u00e0 gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd \u01b0\u1edbc t\u00ednh c\u1ee7a c\u1ed5 phi\u1ebfu, kh\u1ea3 n\u0103ng t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n, l\u00fd do c\u00f4ng ty huy \u0111\u1ed9ng v\u1ed1n v\u00e0 tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai c\u1ee7a n\u00f3. N\u1ebfu b\u1ea1n tin v\u00e0o ti\u1ec1m n\u0103ng c\u1ee7a c\u00f4ng ty nh\u01b0ng kh\u00f4ng c\u00f3 ngu\u1ed3n l\u1ef1c s\u1eb5n c\u00f3, b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n quy\u1ec1n c\u1ee7a m\u00ecnh. N\u1ebfu b\u1ea1n cho r\u1eb1ng gi\u00e1 ph\u00e1t h\u00e0nh kh\u00f4ng h\u1ea5p d\u1eabn ho\u1eb7c c\u00f3 nghi ng\u1edd v\u1ec1 vi\u1ec7c s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c, c\u00f3 th\u1ec3 t\u1ed1t h\u01a1n l\u00e0 kh\u00f4ng \u0111\u0103ng k\u00fd v\u00e0 ch\u1ea5p nh\u1eadn m\u1ed9t s\u1ed1 pha lo\u00e3ng."},{"question":"C\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf c\u1ee7a vi\u1ec7c \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu \u1edf Brazil l\u00e0 g\u00ec?","answer":"T\u1ea1i Brazil, th\u1ef1c hi\u1ec7n quy\u1ec1n mua c\u1ed5 ph\u1ea7n kh\u00f4ng t\u1ea1o ra thu\u1ebf ngay l\u1eadp t\u1ee9c. Tuy nhi\u00ean, vi\u1ec7c b\u00e1n quy\u1ec1n mua c\u1ed5 ph\u1ea7n tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p b\u1ecb \u0111\u00e1nh thu\u1ebf nh\u01b0 l\u1ee3i t\u1ee9c v\u1ed1n, v\u1edbi m\u1ee9c thu\u1ebf su\u1ea5t 15% tr\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng. Khi b\u1ea1n b\u00e1n c\u1ed5 ph\u1ea7n \u0111\u01b0\u1ee3c mua th\u00f4ng qua quy\u1ec1n mua, thu\u1ebf thu nh\u1eadp s\u1ebd \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng tr\u00ean l\u1ee3i t\u1ee9c v\u1ed1n, \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed mua, v\u1edbi c\u00e1c m\u1ee9c thu\u1ebf c\u00f3 th\u1ec3 dao \u0111\u1ed9ng t\u1eeb 15% \u0111\u1ebfn 22,5% t\u00f9y thu\u1ed9c v\u00e0o t\u1ed5ng gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c giao d\u1ecbch trong th\u00e1ng."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 g\u00ec v\u00e0 n\u00f3 ho\u1ea1t \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o trong th\u1ef1c t\u1ebf?","answer":"\u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu l\u00e0 qu\u00e1 tr\u00ecnh m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mua c\u1ed5 phi\u1ebfu m\u1edbi do c\u00f4ng ty ph\u00e1t h\u00e0nh trong m\u1ed9t \u0111\u1ee3t t\u0103ng v\u1ed1n. Trong th\u1ef1c t\u1ebf, khi m\u1ed9t c\u00f4ng ty quy\u1ebft \u0111\u1ecbnh ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi, c\u00f4ng ty s\u1ebd c\u1ea5p cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu quy\u1ec1n \u01b0u ti\u00ean \u0111\u1ec3 mua ch\u00fang, th\u01b0\u1eddng l\u00e0 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n n\u00e0y. N\u1ebfu b\u1ea1n \u0111\u00e3 l\u00e0 c\u1ed5 \u0111\u00f4ng, b\u1ea1n s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c quy\u1ec1n \u0111\u0103ng k\u00fd t\u01b0\u01a1ng \u1ee9ng v\u1edbi t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a b\u1ea1n, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n (b\u1eb1ng c\u00e1ch mua c\u1ed5 phi\u1ebfu m\u1edbi) ho\u1eb7c b\u00e1n tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa quy\u1ec1n \u0111\u0103ng k\u00fd v\u00e0 ti\u1ec1n th\u01b0\u1edfng \u0111\u0103ng k\u00fd l\u00e0 g\u00ec?","answer":"Quy\u1ec1n \u0111\u0103ng k\u00fd mua c\u1ed5 ph\u1ea7n t\u1ea1m th\u1eddi \u0111\u01b0\u1ee3c c\u1ea5p cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu trong qu\u00e1 tr\u00ecnh t\u0103ng v\u1ed1n, \u0111\u1ea3m b\u1ea3o \u01b0u ti\u00ean trong vi\u1ec7c mua c\u1ed5 ph\u1ea7n m\u1edbi. Ng\u01b0\u1ee3c l\u1ea1i, th\u01b0\u1edfng \u0111\u0103ng k\u00fd l\u00e0 ch\u1ee9ng kho\u00e1n cho ph\u00e9p ng\u01b0\u1eddi s\u1edf h\u1eefu quy\u1ec1n \u0111\u0103ng k\u00fd mua c\u1ed5 ph\u1ea7n theo c\u00e1c \u0111i\u1ec1u ki\u1ec7n \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp tr\u01b0\u1edbc, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi ch\u00ednh c\u00f4ng ty v\u00e0 c\u00f3 th\u1eddi h\u1ea1n d\u00e0i h\u01a1n. Trong khi quy\u1ec1n \u0111\u01b0\u1ee3c li\u00ean k\u1ebft v\u1edbi m\u1ed9t qu\u00e1 tr\u00ecnh t\u0103ng v\u1ed1n c\u1ee5 th\u1ec3, th\u01b0\u1edfng l\u00e0 m\u1ed9t ch\u1ee9ng kho\u00e1n \u0111\u1ed9c l\u1eadp c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c giao d\u1ecbch trong th\u1eddi gian d\u00e0i h\u01a1n."},{"question":"C\u00e1ch t\u00ednh gi\u00e1 l\u00fd thuy\u1ebft c\u1ee7a quy\u1ec1n \u0111\u0103ng k\u00fd?","answer":"Gi\u00e1 l\u00fd thuy\u1ebft c\u1ee7a quy\u1ec1n mua c\u1ed5 ph\u1ea7n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c: (Gi\u00e1 c\u1ed5 phi\u1ebfu hi\u1ec7n t\u1ea1i - Gi\u00e1 ph\u00e1t h\u00e0nh) \u00f7 (1 + T\u1ef7 l\u1ec7 quy\u1ec1n mua). V\u00ed d\u1ee5, n\u1ebfu m\u1ed9t c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 R$50, gi\u00e1 ph\u00e1t h\u00e0nh l\u00e0 R$45, v\u00e0 t\u1ef7 l\u1ec7 l\u00e0 1 m\u1edbi cho m\u1ed7i 5 c\u1ed5 phi\u1ebfu c\u0169, th\u00ec ph\u00e9p t\u00ednh s\u1ebd l\u00e0: (R$50 - R$45) \u00f7 (1 + 1\/5) = R$5 \u00f7 1.2 = R$4.17 m\u1ed7i quy\u1ec1n. Tuy nhi\u00ean, c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 thanh kho\u1ea3n v\u00e0 k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 l\u00e0m cho gi\u00e1 giao d\u1ecbch th\u1ef1c t\u1ebf kh\u00e1c v\u1edbi gi\u00e1 l\u00fd thuy\u1ebft."},{"question":"T\u00f4i c\u00f3 n\u00ean lu\u00f4n th\u1ef1c hi\u1ec7n quy\u1ec1n \u0111\u0103ng k\u00fd c\u1ee7a m\u00ecnh kh\u00f4ng?","answer":"Kh\u00f4ng nh\u1ea5t thi\u1ebft. Quy\u1ebft \u0111\u1ecbnh n\u00ean xem x\u00e9t c\u00e1c y\u1ebfu t\u1ed1 kh\u00e1c nhau: gi\u00e1 ph\u00e1t h\u00e0nh so v\u1edbi gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng v\u00e0 gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd \u01b0\u1edbc t\u00ednh c\u1ee7a c\u1ed5 phi\u1ebfu, kh\u1ea3 n\u0103ng t\u00e0i ch\u00ednh c\u1ee7a b\u1ea1n, l\u00fd do c\u00f4ng ty huy \u0111\u1ed9ng v\u1ed1n v\u00e0 tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai c\u1ee7a n\u00f3. N\u1ebfu b\u1ea1n tin v\u00e0o ti\u1ec1m n\u0103ng c\u1ee7a c\u00f4ng ty nh\u01b0ng kh\u00f4ng c\u00f3 ngu\u1ed3n l\u1ef1c s\u1eb5n c\u00f3, b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n quy\u1ec1n c\u1ee7a m\u00ecnh. N\u1ebfu b\u1ea1n cho r\u1eb1ng gi\u00e1 ph\u00e1t h\u00e0nh kh\u00f4ng h\u1ea5p d\u1eabn ho\u1eb7c c\u00f3 nghi ng\u1edd v\u1ec1 vi\u1ec7c s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c, c\u00f3 th\u1ec3 t\u1ed1t h\u01a1n l\u00e0 kh\u00f4ng \u0111\u0103ng k\u00fd v\u00e0 ch\u1ea5p nh\u1eadn m\u1ed9t s\u1ed1 pha lo\u00e3ng."},{"question":"C\u00e1c t\u00e1c \u0111\u1ed9ng thu\u1ebf c\u1ee7a vi\u1ec7c \u0111\u0103ng k\u00fd c\u1ed5 phi\u1ebfu \u1edf Brazil l\u00e0 g\u00ec?","answer":"T\u1ea1i Brazil, th\u1ef1c hi\u1ec7n quy\u1ec1n mua c\u1ed5 ph\u1ea7n kh\u00f4ng t\u1ea1o ra thu\u1ebf ngay l\u1eadp t\u1ee9c. Tuy nhi\u00ean, vi\u1ec7c b\u00e1n quy\u1ec1n mua c\u1ed5 ph\u1ea7n tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p b\u1ecb \u0111\u00e1nh thu\u1ebf nh\u01b0 l\u1ee3i t\u1ee9c v\u1ed1n, v\u1edbi m\u1ee9c thu\u1ebf su\u1ea5t 15% tr\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng. Khi b\u1ea1n b\u00e1n c\u1ed5 ph\u1ea7n \u0111\u01b0\u1ee3c mua th\u00f4ng qua quy\u1ec1n mua, thu\u1ebf thu nh\u1eadp s\u1ebd \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng tr\u00ean l\u1ee3i t\u1ee9c v\u1ed1n, \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 b\u00e1n v\u00e0 chi ph\u00ed mua, v\u1edbi c\u00e1c m\u1ee9c thu\u1ebf c\u00f3 th\u1ec3 dao \u0111\u1ed9ng t\u1eeb 15% \u0111\u1ebfn 22,5% t\u00f9y thu\u1ed9c v\u00e0o t\u1ed5ng gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c giao d\u1ecbch trong th\u00e1ng."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u0110\u0103ng k\u00fd C\u1ed5 phi\u1ebfu: C\u00e1ch T\u1ed1i \u0111a h\u00f3a \u0110\u1ea7u t\u01b0 c\u1ee7a B\u1ea1n v\u00e0o Th\u1ecb tr\u01b0\u1eddng Brazil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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