{"id":370938,"date":"2025-09-05T09:37:52","date_gmt":"2025-09-05T09:37:52","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/zero-commission-2\/"},"modified":"2025-09-05T11:02:06","modified_gmt":"2025-09-05T11:02:06","slug":"zero-commission","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/interesting\/trading-platforms\/zero-commission\/","title":{"rendered":"Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng: \u01afu \u0110i\u1ec3m, Nh\u01b0\u1ee3c \u0110i\u1ec3m, v\u00e0 Chi Ph\u00ed \u1ea8n"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":249314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24],"tags":[2567],"class_list":["post-370938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-platforms","tag-trading"],"acf":{"h1":"Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng: \u01afu \u0111i\u1ec3m, Nh\u01b0\u1ee3c \u0111i\u1ec3m v\u00e0 Chi ph\u00ed \u1ea8n","h1_source":{"label":"H1","type":"text","formatted_value":"Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng: \u01afu \u0111i\u1ec3m, Nh\u01b0\u1ee3c \u0111i\u1ec3m v\u00e0 Chi ph\u00ed \u1ea8n"},"description":"Ph\u00e2n t\u00edch Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng: \u01afu \u0111i\u1ec3m, nh\u01b0\u1ee3c \u0111i\u1ec3m v\u00e0 chi ph\u00ed \u1ea9n","description_source":{"label":"Description","type":"textarea","formatted_value":"Ph\u00e2n t\u00edch Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng: \u01afu \u0111i\u1ec3m, nh\u01b0\u1ee3c \u0111i\u1ec3m v\u00e0 chi ph\u00ed \u1ea9n"},"intro":"Ng\u00e0nh c\u00f4ng nghi\u1ec7p m\u00f4i gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t s\u1ef1 bi\u1ebfn \u0111\u1ed5i c\u0103n b\u1ea3n trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y, v\u1edbi s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a c\u00e1c n\u1ec1n t\u1ea3ng giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 thay \u0111\u1ed5i c\u01a1 b\u1ea3n c\u00e1ch c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. S\u1ef1 thay \u0111\u1ed5i l\u1edbn n\u00e0y, ban \u0111\u1ea7u \u0111\u01b0\u1ee3c ti\u00ean phong b\u1edfi c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 t\u00e0i ch\u00ednh nh\u01b0 Robinhood, \u0111\u00e3 bu\u1ed9c ngay c\u1ea3 c\u00e1c t\u1eadp \u0111o\u00e0n m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng c\u0169ng ph\u1ea3i lo\u1ea1i b\u1ecf ph\u00ed giao d\u1ecbch, t\u1ea1o ra m\u1ed9t m\u00f4 h\u00ecnh m\u1edbi n\u01a1i \"giao d\u1ecbch mi\u1ec5n ph\u00ed\" \u0111\u00e3 tr\u1edf th\u00e0nh ti\u00eau chu\u1ea9n c\u1ee7a ng\u00e0nh thay v\u00ec ngo\u1ea1i l\u1ec7.","intro_source":{"label":"Intro","type":"text","formatted_value":"Ng\u00e0nh c\u00f4ng nghi\u1ec7p m\u00f4i gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t s\u1ef1 bi\u1ebfn \u0111\u1ed5i c\u0103n b\u1ea3n trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y, v\u1edbi s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a c\u00e1c n\u1ec1n t\u1ea3ng giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 thay \u0111\u1ed5i c\u01a1 b\u1ea3n c\u00e1ch c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. S\u1ef1 thay \u0111\u1ed5i l\u1edbn n\u00e0y, ban \u0111\u1ea7u \u0111\u01b0\u1ee3c ti\u00ean phong b\u1edfi c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 t\u00e0i ch\u00ednh nh\u01b0 Robinhood, \u0111\u00e3 bu\u1ed9c ngay c\u1ea3 c\u00e1c t\u1eadp \u0111o\u00e0n m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng c\u0169ng ph\u1ea3i lo\u1ea1i b\u1ecf ph\u00ed giao d\u1ecbch, t\u1ea1o ra m\u1ed9t m\u00f4 h\u00ecnh m\u1edbi n\u01a1i \"giao d\u1ecbch mi\u1ec5n ph\u00ed\" \u0111\u00e3 tr\u1edf th\u00e0nh ti\u00eau chu\u1ea9n c\u1ee7a ng\u00e0nh thay v\u00ec ngo\u1ea1i l\u1ec7."},"body_html":"&nbsp;\r\n\r\nV\u1ec1 c\u1ed1t l\u00f5i, m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng \u0111\u1ea1i di\u1ec7n cho c\u1ea3 s\u1ef1 d\u00e2n ch\u1ee7 h\u00f3a v\u00e0 th\u01b0\u01a1ng m\u1ea1i h\u00f3a \u0111\u1ea7u t\u01b0. M\u1ed9t m\u1eb7t, n\u00f3 \u0111\u00e3 lo\u1ea1i b\u1ecf c\u00e1c r\u00e0o c\u1ea3n t\u00e0i ch\u00ednh \u0111\u00e1ng k\u1ec3 t\u1eebng khi\u1ebfn giao d\u1ecbch ch\u1ee7 \u0111\u1ed9ng tr\u1edf n\u00ean qu\u00e1 \u0111\u1eaft \u0111\u1ecf \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1ecf. Nh\u1eefng ng\u00e0y m\u00e0 m\u1ed9t nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb th\u1ea5y l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng c\u1ee7a h\u1ecd b\u1ed1c h\u01a1i d\u01b0\u1edbi s\u1ee9c n\u1eb7ng c\u1ee7a ph\u00ed hoa h\u1ed3ng 5-10 \u0111\u00f4 la m\u1ed7i giao d\u1ecbch \u0111\u00e3 qua. S\u1ef1 gi\u1ea3i ph\u00f3ng kh\u1ecfi chi ph\u00ed m\u1ed7i giao d\u1ecbch n\u00e0y \u0111\u00e3 \u0111\u1eb7c bi\u1ec7t trao quy\u1ec1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ebf h\u1ec7 millennial v\u00e0 Gen Z, th\u00fac \u0111\u1ea9y s\u1ef1 gia t\u0103ng ch\u01b0a t\u1eebng c\u00f3 trong s\u1ef1 tham gia c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u00e1n l\u1ebb th\u00f4ng qua c\u00e1c n\u1ec1n t\u1ea3ng giao d\u1ecbch di \u0111\u1ed9ng \u0111\u1ea7u ti\u00ean, b\u00f3ng b\u1ea9y.\r\n\r\nTuy nhi\u00ean, b\u00ean d\u01b0\u1edbi b\u1ec1 m\u1eb7t c\u1ee7a thi\u00ean \u0111\u01b0\u1eddng nh\u00e0 \u0111\u1ea7u t\u01b0 r\u00f5 r\u00e0ng n\u00e0y l\u00e0 m\u1ed9t th\u1ef1c t\u1ebf ph\u1ee9c t\u1ea1p h\u01a1n. Vi\u1ec7c lo\u1ea1i b\u1ecf hoa h\u1ed3ng kh\u00f4ng l\u00e0m cho giao d\u1ecbch th\u1ef1c s\u1ef1 mi\u1ec5n ph\u00ed - n\u00f3 ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 thay \u0111\u1ed5i c\u1ea5u tr\u00fac chi ph\u00ed theo nh\u1eefng c\u00e1ch kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng minh b\u1ea1ch \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi d\u00f9ng cu\u1ed1i. C\u00e1c c\u00f4ng ty m\u00f4i gi\u1edbi \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c ngu\u1ed3n doanh thu thay th\u1ebf tinh vi, t\u1eeb vi\u1ec7c b\u00e1n lu\u1ed3ng l\u1ec7nh cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u1ebfn ki\u1ebfm ti\u1ec1n t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 v\u00e0 cung c\u1ea5p c\u00e1c d\u1ecbch v\u1ee5 \u0111\u0103ng k\u00fd cao c\u1ea5p. Nh\u1eefng ph\u01b0\u01a1ng ph\u00e1p ki\u1ebfm ti\u1ec1n \u1ea9n n\u00e0y \u0111\u1eb7t ra nh\u1eefng c\u00e2u h\u1ecfi quan tr\u1ecdng v\u1ec1 xung \u0111\u1ed9t l\u1ee3i \u00edch ti\u1ec1m \u1ea9n v\u00e0 li\u1ec7u c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 v\u00f4 t\u00ecnh tr\u1ea3 ti\u1ec1n theo nh\u1eefng c\u00e1ch kh\u00e1c hay kh\u00f4ng.\r\n\r\nTh\u1eddi \u0111i\u1ec3m c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng n\u00e0y kh\u00f4ng th\u1ec3 quan tr\u1ecdng h\u01a1n. Trong b\u1ed1i c\u1ea3nh t\u00e0i ch\u00ednh sau \u0111\u1ea1i d\u1ecbch, ch\u00fang ta \u0111\u00e3 ch\u1ee9ng ki\u1ebfn kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u00e1n l\u1ebb \u0111\u1ea1t m\u1ee9c cao k\u1ef7 l\u1ee5c, v\u1edbi c\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0 eToro v\u00e0 Robinhood b\u00e1o c\u00e1o h\u00e0ng tri\u1ec7u t\u00e0i kho\u1ea3n m\u1edbi. S\u1ef1 gia t\u0103ng n\u00e0y \u0111\u00e3 tr\u00f9ng h\u1ee3p v\u1edbi - v\u00e0 c\u00f3 th\u1ec3 \u0111\u00e3 g\u00f3p ph\u1ea7n v\u00e0o - c\u00e1c hi\u1ec7n t\u01b0\u1ee3ng th\u1ecb tr\u01b0\u1eddng m\u1edbi nh\u01b0 c\u01a1n s\u1ed1t c\u1ed5 phi\u1ebfu meme, n\u01a1i s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng v\u00e0 m\u1ea1ng x\u00e3 h\u1ed9i \u0111\u00e3 t\u1ea1o ra s\u1ef1 bi\u1ebfn \u0111\u1ed9ng ch\u01b0a t\u1eebng c\u00f3 trong m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu nh\u1ea5t \u0111\u1ecbnh.\r\n\r\nC\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd tr\u00ean to\u00e0n th\u1ebf gi\u1edbi \u0111\u00e3 ch\u00fa \u00fd \u0111\u1ebfn nh\u1eefng di\u1ec5n bi\u1ebfn n\u00e0y. T\u1ea1i Hoa K\u1ef3, SEC \u0111\u00e3 t\u0103ng c\u01b0\u1eddng gi\u00e1m s\u00e1t c\u00e1c ho\u1ea1t \u0111\u1ed9ng thanh to\u00e1n cho lu\u1ed3ng l\u1ec7nh, trong khi c\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd ch\u00e2u \u00c2u d\u01b0\u1edbi s\u1ef1 gi\u00e1m s\u00e1t c\u1ee7a ESMA \u0111\u00e3 c\u00f3 l\u1eadp tr\u01b0\u1eddng h\u1ea1n ch\u1ebf h\u01a1n. Nh\u1eefng ph\u1ea3n \u1ee9ng quy \u0111\u1ecbnh n\u00e0y ph\u1ea3n \u00e1nh m\u1ed1i lo ng\u1ea1i ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 vi\u1ec7c li\u1ec7u m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng c\u00f3 th\u1ef1c s\u1ef1 ph\u1ee5c v\u1ee5 l\u1ee3i \u00edch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 hay ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 \u0111\u00f3ng g\u00f3i l\u1ea1i chi ph\u00ed theo nh\u1eefng c\u00e1ch \u00edt minh b\u1ea1ch h\u01a1n.\r\n\r\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111i\u1ec1u h\u01b0\u1edbng m\u00f4i tr\u01b0\u1eddng m\u1edbi n\u00e0y, vi\u1ec7c hi\u1ec3u r\u00f5 c\u00e1c s\u1eafc th\u00e1i c\u1ee7a giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 tr\u1edf n\u00ean c\u1ea7n thi\u1ebft. Trong khi l\u1ee3i \u00edch cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, kh\u00f4ng th\u01b0\u1eddng xuy\u00ean l\u00e0 r\u00f5 r\u00e0ng, c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c h\u01a1n c\u1ea7n ph\u1ea3i nh\u1eadn th\u1ee9c \u0111\u01b0\u1ee3c nh\u1eefng c\u1ea1m b\u1eaby ti\u1ec1m \u1ea9n nh\u01b0:\r\n<ul>\r\n \t<li>T\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c th\u1ef1c ti\u1ec5n \u0111\u1ecbnh tuy\u1ebfn l\u1ec7nh \u0111\u1ed1i v\u1edbi ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n<\/li>\r\n \t<li>C\u00e1ch ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i nhu\u1eadn giao d\u1ecbch<\/li>\r\n \t<li>C\u00e1c chi ph\u00ed \u1ea9n n\u1ea5p trong chuy\u1ec3n \u0111\u1ed5i ti\u1ec1n t\u1ec7 v\u00e0 c\u00e1c kho\u1ea3n ph\u00ed ph\u1ee5 tr\u1ee3 kh\u00e1c<\/li>\r\n \t<li>Nh\u1eefng h\u1ea1n ch\u1ebf m\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng n\u00e0y c\u00f3 th\u1ec3 \u00e1p \u0111\u1eb7t \u0111\u1ed1i v\u1edbi m\u1ed9t s\u1ed1 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch nh\u1ea5t \u0111\u1ecbnh<\/li>\r\n<\/ul>\r\nH\u01b0\u1edbng d\u1eabn n\u00e0y nh\u1eb1m b\u00f3c t\u00e1ch c\u00e1c l\u1edbp hi\u1ec7n t\u01b0\u1ee3ng kh\u00f4ng hoa h\u1ed3ng, cung c\u1ea5p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eefng hi\u1ec3u bi\u1ebft c\u1ea7n thi\u1ebft \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t trong b\u1ed1i c\u1ea3nh giao d\u1ecbch \u0111\u00e3 bi\u1ebfn \u0111\u1ed5i n\u00e0y. Cho d\u00f9 b\u1ea1n l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ef9 ch\u1ec9 s\u1ed1 th\u1ee5 \u0111\u1ed9ng hay nh\u00e0 giao d\u1ecbch trong ng\u00e0y t\u00edch c\u1ef1c, vi\u1ec7c hi\u1ec3u r\u00f5 n\u01a1i chi ph\u00ed v\u00e0 l\u1ee3i \u00edch th\u1ef1c s\u1ef1 n\u1eb1m s\u1ebd r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n trong k\u1ef7 nguy\u00ean giao d\u1ecbch \"mi\u1ec5n ph\u00ed\".\r\n<h2><strong>\ud83d\udd0d Ch\u01b0\u01a1ng 1: C\u01a1 Ch\u1ebf \u1ea8n C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng<\/strong><\/h2>\r\n<h3><strong>1.1 S\u1ef1 Gi\u00e1n \u0110o\u1ea1n C\u1ee7a C\u00e1c M\u00f4 H\u00ecnh M\u00f4i Gi\u1edbi Truy\u1ec1n Th\u1ed1ng<\/strong><\/h3>\r\nNg\u00e0nh m\u00f4i gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t s\u1ef1 chuy\u1ec3n \u0111\u1ed5i m\u1ea1nh m\u1ebd trong th\u1eadp k\u1ef7 qua. Tr\u01b0\u1edbc n\u0103m 2013, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb th\u01b0\u1eddng xuy\u00ean ph\u1ea3i tr\u1ea3 t\u1eeb 5 \u0111\u1ebfn 30 \u0111\u00f4 la m\u1ed7i giao d\u1ecbch, v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi chi\u1ebft kh\u1ea5u nh\u01b0 E*TRADE v\u00e0 TD Ameritrade t\u00ednh ph\u00ed 7-10 \u0111\u00f4 la cho c\u00e1c giao d\u1ecbch c\u1ed5 phi\u1ebfu ti\u00eau chu\u1ea9n. C\u00e1c c\u00f4ng ty d\u1ecbch v\u1ee5 \u0111\u1ea7y \u0111\u1ee7 nh\u01b0 Merrill Lynch c\u00f3 th\u1ec3 t\u00ednh ph\u00ed 50 \u0111\u00f4 la tr\u1edf l\u00ean cho m\u1ed7i giao d\u1ecbch. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra nh\u1eefng r\u00e0o c\u1ea3n \u0111\u00e1ng k\u1ec3 \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1ecf.\r\n\r\nCu\u1ed9c c\u00e1ch m\u1ea1ng b\u1eaft \u0111\u1ea7u khi Robinhood ra m\u1eaft v\u00e0o n\u0103m 2013 v\u1edbi m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng, bu\u1ed9c to\u00e0n b\u1ed9 ng\u00e0nh ph\u1ea3i th\u00edch nghi. \u0110\u1ebfn th\u00e1ng 10 n\u0103m 2019, t\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi l\u1edbn c\u1ee7a Hoa K\u1ef3 \u0111\u00e3 lo\u1ea1i b\u1ecf ph\u00ed giao d\u1ecbch. S\u1ef1 thay \u0111\u1ed5i \u0111\u1ecba ch\u1ea5n n\u00e0y \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n nh\u1edd ba \u0111\u1ed5i m\u1edbi c\u00f4ng ngh\u1ec7 v\u00e0 t\u00e0i ch\u00ednh quan tr\u1ecdng:\r\n<ol>\r\n \t<li><strong>C\u01a1 S\u1edf H\u1ea1 T\u1ea7ng \u0110i\u1ec7n To\u00e1n \u0110\u00e1m M\u00e2y<\/strong> - Gi\u1ea3m chi ph\u00ed v\u1eadn h\u00e0nh t\u1eeb 60-70% so v\u1edbi duy tr\u00ec c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u v\u1eadt l\u00fd<\/li>\r\n \t<li><strong>C\u00e1c N\u1ec1n T\u1ea3ng Di \u0110\u1ed9ng \u0110\u1ea7u Ti\u00ean<\/strong> - Lo\u1ea1i b\u1ecf nhu c\u1ea7u v\u1ec1 ph\u1ea7n m\u1ec1m giao d\u1ecbch tr\u00ean m\u00e1y t\u00ednh \u0111\u1ec3 b\u00e0n \u0111\u1eaft ti\u1ec1n<\/li>\r\n \t<li><strong>C\u00e1c Ngu\u1ed3n Doanh Thu Thay Th\u1ebf<\/strong> - Ph\u00e1t tri\u1ec3n c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ki\u1ebfm ti\u1ec1n tinh vi ngo\u00e0i hoa h\u1ed3ng [1]<\/li>\r\n<\/ol>\r\n<h3><strong>1.2 B\u1ed1n Tr\u1ee5 C\u1ed9t C\u1ee7a Doanh Thu Giao D\u1ecbch \"Mi\u1ec5n Ph\u00ed\"<\/strong><\/h3>\r\nKhi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi lo\u1ea1i b\u1ecf hoa h\u1ed3ng, h\u1ecd \u0111\u00e3 thay th\u1ebf thu nh\u1eadp n\u00e0y th\u00f4ng qua b\u1ed1n k\u00eanh ch\u00ednh:\r\n<ol>\r\n \t<li><strong> Thanh To\u00e1n Cho Lu\u1ed3ng L\u1ec7nh (PFOF)<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n th\u1ef1c hi\u1ec7n l\u1ec7nh cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng nh\u01b0 Citadel Securities v\u00e0 Virtu Financial<\/li>\r\n \t<li>C\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 mua-b\u00e1n<\/li>\r\n \t<li>N\u0103m 2023, Robinhood t\u1ea1o ra 1,8 t\u1ef7 \u0111\u00f4 la (78% t\u1ed5ng doanh thu) t\u1eeb PFOF<\/li>\r\n \t<li>Tranh c\u00e3i: T\u1ea1o ra xung \u0111\u1ed9t l\u1ee3i \u00edch ti\u1ec1m \u1ea9n trong ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 1: Tr\u1ea3i Nghi\u1ec7m Giao D\u1ecbch \"Mi\u1ec5n Ph\u00ed\" C\u1ee7a Sarah<\/strong><strong>\r\n<\/strong>Sarah, m\u1ed9t nh\u00e0 thi\u1ebft k\u1ebf t\u1ef1 do 28 tu\u1ed5i, mua 20 c\u1ed5 phi\u1ebfu c\u1ee7a TechCo v\u1edbi gi\u00e1 50 \u0111\u00f4 la\/c\u1ed5 phi\u1ebfu tr\u00ean Robinhood:\r\n<ul>\r\n \t<li>\u0110\u01a1n h\u00e0ng c\u1ee7a c\u00f4 \u0111\u01b0\u1ee3c \u0111\u1ecbnh tuy\u1ebfn \u0111\u1ebfn Citadel thay v\u00ec tr\u1ef1c ti\u1ebfp \u0111\u1ebfn NASDAQ<\/li>\r\n \t<li>Citadel th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c 50,02 \u0111\u00f4 la (h\u01a1i t\u1ec7 h\u01a1n NBBO)<\/li>\r\n \t<li>Robinhood nh\u1eadn \u0111\u01b0\u1ee3c 0,002 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu (t\u1ed5ng c\u1ed9ng 0,04 \u0111\u00f4 la) t\u1eeb Citadel<\/li>\r\n \t<li>Trong khi Sarah th\u1ea5y \"0 \u0111\u00f4 la hoa h\u1ed3ng\", c\u00f4 th\u1ef1c s\u1ef1 tr\u1ea3 th\u00eam 0,40 \u0111\u00f4 la so v\u1edbi gi\u00e1 t\u1ed1i \u01b0u<\/li>\r\n<\/ul>\r\n<ol start=\"2\">\r\n \t<li><strong> Cho Vay K\u00fd Qu\u1ef9 &amp; Qu\u1ea3n L\u00fd Ti\u1ec1n M\u1eb7t<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>Ph\u00ed l\u00e3i su\u1ea5t tr\u00ean s\u1ed1 d\u01b0 k\u00fd qu\u1ef9 (th\u01b0\u1eddng l\u00e0 6,5-12% APR)<\/li>\r\n \t<li>Robinhood Gold t\u00ednh ph\u00ed 5-200 \u0111\u00f4 la\/th\u00e1ng \u0111\u1ec3 truy c\u1eadp k\u00fd qu\u1ef9<\/li>\r\n \t<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi ki\u1ebfm l\u00e3i su\u1ea5t tr\u00ean ti\u1ec1n m\u1eb7t ch\u01b0a \u0111\u1ea7u t\u01b0 (th\u01b0\u1eddng tr\u1ea3 cho ng\u01b0\u1eddi d\u00f9ng d\u01b0\u1edbi m\u1ee9c th\u1ecb tr\u01b0\u1eddng)<\/li>\r\n \t<li>Chi\u1ebfm 15-25% doanh thu t\u1ea1i h\u1ea7u h\u1ebft c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n l\u1ebb<\/li>\r\n<\/ul>\r\n<ol start=\"3\">\r\n \t<li><strong> \u0110\u0103ng K\u00fd &amp; D\u1ecbch V\u1ee5 Cao C\u1ea5p<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>C\u00f4ng c\u1ee5 v\u00e0 d\u1eef li\u1ec7u n\u00e2ng cao v\u1edbi ph\u00ed h\u00e0ng th\u00e1ng (5-30 \u0111\u00f4 la\/th\u00e1ng)<\/li>\r\n \t<li>V\u00ed d\u1ee5: D\u1eef li\u1ec7u c\u1ea5p 2 c\u1ee7a Webull v\u1edbi gi\u00e1 1,99 \u0111\u00f4 la, th\u00e0nh vi\u00ean \"Pro\" c\u1ee7a eToro v\u1edbi gi\u00e1 9,99 \u0111\u00f4 la<\/li>\r\n \t<li>Doanh thu ph\u00e1t tri\u1ec3n nhanh nh\u1ea5t (t\u0103ng tr\u01b0\u1edfng ng\u00e0nh 40% YoY) [8]<\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 2: H\u00e0nh Tr\u00ecnh Giao D\u1ecbch Trong Ng\u00e0y C\u1ee7a Mike<\/strong><strong>\r\n<\/strong>Mike, m\u1ed9t nh\u00e0 giao d\u1ecbch \u0111\u1ea7y tham v\u1ecdng 35 tu\u1ed5i:\r\n<ul>\r\n \t<li>Ch\u1ecdn Webull cho n\u1ec1n t\u1ea3ng \"mi\u1ec5n ph\u00ed\" c\u1ee7a n\u00f3<\/li>\r\n \t<li>Tr\u1ea3 1,99 \u0111\u00f4 la\/th\u00e1ng cho d\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng c\u1ea5p 2<\/li>\r\n \t<li>Th\u1ef1c hi\u1ec7n 75 giao d\u1ecbch\/th\u00e1ng - ti\u1ebft ki\u1ec7m 750 \u0111\u00f4 la so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\r\n \t<li>Tuy nhi\u00ean, tr\u1ea3i nghi\u1ec7m:\r\n<ul>\r\n \t<li>Th\u00e2m h\u1ee5t c\u1ea3i thi\u1ec7n gi\u00e1 trung b\u00ecnh 0,03 \u0111\u00f4 la<\/li>\r\n \t<li>225 \u0111\u00f4 la trong chi ph\u00ed ch\u00eanh l\u1ec7ch t\u00edch l\u0169y<\/li>\r\n \t<li>50 \u0111\u00f4 la trong ph\u00ed \u0111\u0103ng k\u00fd<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m r\u00f2ng: 475 \u0111\u00f4 la\/th\u00e1ng (\u00edt h\u01a1n 37% so v\u1edbi d\u1ef1 ki\u1ebfn)<\/li>\r\n<\/ul>\r\n<ol start=\"4\">\r\n \t<li><strong> Chuy\u1ec3n \u0110\u1ed5i Ngo\u1ea1i T\u1ec7 &amp; Ph\u00ed Ph\u1ee5 Tr\u1ee3<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>\u0110\u00e1nh d\u1ea5u FX \u1ea9n (1-3%) tr\u00ean c\u00e1c giao d\u1ecbch qu\u1ed1c t\u1ebf<\/li>\r\n \t<li>Ph\u00ed chuy\u1ec3n t\u00e0i kho\u1ea3n (75-100 \u0111\u00f4 la m\u1ed7i l\u1ea7n chuy\u1ec3n)<\/li>\r\n \t<li>Ph\u00ed h\u1ee3p \u0111\u1ed3ng quy\u1ec1n ch\u1ecdn (0,50-1,00 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng)<\/li>\r\n<\/ul>\r\n<h3><strong>1.3 B\u1ed1i C\u1ea3nh Quy \u0110\u1ecbnh To\u00e0n C\u1ea7u<\/strong><\/h3>\r\n<strong>Hoa K\u1ef3:<\/strong>\r\n<ul>\r\n \t<li>SEC cho ph\u00e9p PFOF nh\u01b0ng y\u00eau c\u1ea7u c\u00f4ng b\u1ed1 chi ti\u1ebft (b\u00e1o c\u00e1o Quy t\u1eafc 606)<\/li>\r\n \t<li>\u0110\u1ec1 xu\u1ea5t g\u1ea7n \u0111\u00e2y \u0111\u1ec3 c\u1ea5m PFOF \u0111ang \u0111\u01b0\u1ee3c xem x\u00e9t<\/li>\r\n \t<li>Thanh to\u00e1n cho lu\u1ed3ng l\u1ec7nh chi\u1ebfm 60% doanh thu c\u1ee7a nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n l\u1ebb<\/li>\r\n<\/ul>\r\n<strong>Li\u00ean Minh Ch\u00e2u \u00c2u:<\/strong>\r\n<ul>\r\n \t<li>ESMA \u0111\u00e3 c\u1ea5m hi\u1ec7u qu\u1ea3 PFOF th\u00f4ng qua c\u00e1c quy \u0111\u1ecbnh MiFID II<\/li>\r\n \t<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi d\u1ef1a nhi\u1ec1u h\u01a1n v\u00e0o ch\u00eanh l\u1ec7ch gi\u00e1 v\u00e0 m\u00f4 h\u00ecnh \u0111\u0103ng k\u00fd<\/li>\r\n \t<li>Ch\u00eanh l\u1ec7ch EUR\/USD \u0111i\u1ec3n h\u00ecnh 0,1-0,3% so v\u1edbi 0,02-0,05% \u1edf M\u1ef9<\/li>\r\n<\/ul>\r\n<strong>Th\u1ecb Tr\u01b0\u1eddng M\u1edbi N\u1ed5i:<\/strong>\r\n<ul>\r\n \t<li>CVM c\u1ee7a Brazil y\u00eau c\u1ea7u c\u00f4ng b\u1ed1 r\u00f5 r\u00e0ng t\u1ea5t c\u1ea3 c\u00e1c ngu\u1ed3n doanh thu<\/li>\r\n \t<li>CNBV c\u1ee7a Mexico gi\u1edbi h\u1ea1n PFOF \u1edf m\u1ee9c 0,05% gi\u00e1 tr\u1ecb giao d\u1ecbch<\/li>\r\n \t<li>SEBI c\u1ee7a \u1ea4n \u0110\u1ed9 \u0111\u00e3 c\u1ea5m ho\u00e0n to\u00e0n PFOF v\u00e0o n\u0103m 2022<\/li>\r\n<\/ul>\r\n<strong>Th\u00f4ng Tin Quan Tr\u1ecdng:<\/strong> M\u1eb7c d\u00f9 giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 d\u00e2n ch\u1ee7 h\u00f3a quy\u1ec1n truy c\u1eadp th\u1ecb tr\u01b0\u1eddng, c\u1ea5u tr\u00fac chi ph\u00ed th\u1ef1c s\u1ef1 t\u1ea1o ra c\u00e1c \u0111\u00e1nh \u0111\u1ed5i ph\u1ee9c t\u1ea1p gi\u1eefa kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn, ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n v\u00e0 chi ph\u00ed \u1ea9n. Hi\u1ec3u r\u00f5 nh\u1eefng c\u01a1 ch\u1ebf n\u00e0y l\u00e0 r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra l\u1ef1a ch\u1ecdn n\u1ec1n t\u1ea3ng s\u00e1ng su\u1ed1t. [4]\r\n<h2><strong>\u2705 Ch\u01b0\u01a1ng 2: Nh\u1eefng Ng\u01b0\u1eddi Th\u1eafng V\u00e0 Thua Th\u1ef1c S\u1ef1 C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng<\/strong><\/h2>\r\n<h3><strong>2.1 Ai Th\u1ef1c S\u1ef1 H\u01b0\u1edfng L\u1ee3i?<\/strong><\/h3>\r\nGiao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 t\u1ea1o ra nh\u1eefng ng\u01b0\u1eddi chi\u1ebfn th\u1eafng r\u00f5 r\u00e0ng, nh\u01b0ng kh\u00f4ng ph\u1ea3i t\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ec1u h\u01b0\u1edfng l\u1ee3i nh\u01b0 nhau. M\u00f4 h\u00ecnh n\u00e0y \u01b0u ti\u00ean c\u00e1c h\u1ed3 s\u01a1 ng\u01b0\u1eddi d\u00f9ng c\u1ee5 th\u1ec3:\r\n\r\n\u2714 <strong>Nh\u00e0 \u0110\u1ea7u T\u01b0 D\u00e0i H\u1ea1n (Ph\u00f9 H\u1ee3p Nh\u1ea5t)<\/strong>\r\n<ul>\r\n \t<li><strong>Ho\u1ea1t \u0110\u1ed9ng \u0110i\u1ec3n H\u00ecnh:<\/strong> 1-5 giao d\u1ecbch\/th\u00e1ng<\/li>\r\n \t<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Trung b\u00ecnh gi\u00e1 v\u00e0o c\u00e1c qu\u1ef9 ETF ho\u1eb7c c\u1ed5 phi\u1ebfu blue-chip<\/li>\r\n \t<li><strong>T\u1ea1i Sao N\u00f3 Hi\u1ec7u Qu\u1ea3:<\/strong> Kh\u00f4ng c\u00f3 ph\u00ed \u0111\u1ecbnh k\u1ef3 \u0103n v\u00e0o l\u1ee3i nhu\u1eadn k\u00e9p<\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 3:<\/strong> Maria, 45 tu\u1ed5i (k\u1ebf to\u00e1n)\r\n<ul>\r\n \t<li>\u0110\u1ea7u t\u01b0 1.000 \u0111\u00f4 la h\u00e0ng th\u00e1ng v\u00e0o SPY v\u00e0 QQQ<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 120 \u0111\u00f4 la\/n\u0103m so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\r\n \t<li>T\u00e1c \u0111\u1ed9ng t\u1ed1i thi\u1ec3u t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 ho\u1eb7c PFOF [10]<\/li>\r\n<\/ul>\r\n\u2714 <strong>Ng\u01b0\u1eddi N\u1eafm Gi\u1eef T\u00e0i Kho\u1ea3n Nh\u1ecf (&lt;25k \u0111\u00f4 la)<\/strong>\r\n<ul>\r\n \t<li><strong>L\u1ee3i Th\u1ebf:<\/strong> C\u1ed5 phi\u1ebfu ph\u00e2n \u0111o\u1ea1n cho ph\u00e9p danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng<\/li>\r\n \t<li><strong>V\u00ed D\u1ee5:<\/strong> 100 \u0111\u00f4 la c\u00f3 th\u1ec3 mua c\u00e1c ph\u1ea7n c\u1ee7a Amazon, Google v\u00e0 Tesla<\/li>\r\n \t<li><strong>L\u1ee3i \u00cdch \u1ea8n:<\/strong> Kh\u00f4ng y\u00eau c\u1ea7u s\u1ed1 d\u01b0 t\u1ed1i thi\u1ec3u<\/li>\r\n<\/ul>\r\n\u2714 <strong>Ng\u01b0\u1eddi D\u00f9ng Gi\u00e1o D\u1ee5c<\/strong>\r\n<ul>\r\n \t<li><strong>L\u1ee3i \u00cdch:<\/strong> C\u00e1ch h\u1ecdc c\u01a1 ch\u1ebf th\u1ecb tr\u01b0\u1eddng kh\u00f4ng r\u1ee7i ro<\/li>\r\n \t<li><strong>S\u1eed D\u1ee5ng L\u00fd T\u01b0\u1edfng:<\/strong> Giao d\u1ecbch gi\u1ea5y ho\u1eb7c th\u1eed nghi\u1ec7m v\u1ecb tr\u00ed vi m\u00f4<\/li>\r\n<\/ul>\r\n<h3><strong>2.2 Ai B\u1ecb T\u1ed5n Th\u01b0\u01a1ng B\u1edfi Giao D\u1ecbch \"Mi\u1ec5n Ph\u00ed\"?<\/strong><\/h3>\r\n\u0110\u1ed1i v\u1edbi nh\u1eefng nh\u00e0 giao d\u1ecbch n\u00e0y, chi ph\u00ed \u1ea9n th\u01b0\u1eddng v\u01b0\u1ee3t qu\u00e1 ti\u1ebft ki\u1ec7m hoa h\u1ed3ng:\r\n\r\n\u274c <strong>Nh\u00e0 Giao D\u1ecbch Trong Ng\u00e0y T\u00edch C\u1ef1c (5+ giao d\u1ecbch\/ng\u00e0y)<\/strong>\r\n<ul>\r\n \t<li><strong>V\u1ea5n \u0110\u1ec1:<\/strong> Ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n k\u00e9m t\u00edch l\u0169y<\/li>\r\n \t<li><strong>To\u00e1n H\u1ecdc:<\/strong>\r\n<ul>\r\n \t<li>50 giao d\u1ecbch\/tu\u1ea7n \u00d7 0,03 \u0111\u00f4 la tr\u01b0\u1ee3t gi\u00e1 = 1.500 \u0111\u00f4 la\/n\u0103m<\/li>\r\n \t<li>X\u00f3a s\u1ea1ch b\u1ea5t k\u1ef3 kho\u1ea3n ti\u1ebft ki\u1ec7m hoa h\u1ed3ng n\u00e0o<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 4:<\/strong> David, 29 tu\u1ed5i (c\u1ef1u nh\u00e0 giao d\u1ecbch trong ng\u00e0y)\r\n<ul>\r\n \t<li>Chuy\u1ec3n t\u1eeb TD sang Robinhood \u0111\u1ec3 \"ti\u1ebft ki\u1ec7m ph\u00ed\"<\/li>\r\n \t<li>Sau \u0111\u00f3 ph\u00e1t hi\u1ec7n ra r\u1eb1ng c\u00e1c l\u1ec7nh c\u1ee7a anh \u1ea5y lu\u00f4n t\u1ec7 h\u01a1n<\/li>\r\n \t<li>Thua l\u1ed7 r\u00f2ng: 2.100 \u0111\u00f4 la\/n\u0103m so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\r\n<\/ul>\r\n\u274c <strong>Nh\u00e0 Giao D\u1ecbch Quy\u1ec1n Ch\u1ecdn<\/strong>\r\n<ul>\r\n \t<li><strong>Chi Ph\u00ed \u1ea8n:<\/strong>\r\n<ul>\r\n \t<li>0,50-1,00 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng trong PFOF<\/li>\r\n \t<li>Ph\u00ed th\u1ef1c hi\u1ec7n\/\u0111\u01b0\u1ee3c giao t\u1ea1i nhi\u1ec1u nh\u00e0 m\u00f4i gi\u1edbi<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>V\u00ed D\u1ee5:<\/strong> B\u00e1n quy\u1ec1n ch\u1ecdn b\u00e1n tr\u00ean Robinhood so v\u1edbi Tastyworks\r\n<ul>\r\n \t<li>C\u00f3 v\u1ebb mi\u1ec5n ph\u00ed nh\u01b0ng m\u1ea5t 5 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng trong th\u1ef1c hi\u1ec7n<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n\u274c <strong>Nh\u00e0 \u0110\u1ea7u T\u01b0 Qu\u1ed1c T\u1ebf<\/strong>\r\n<ul>\r\n \t<li><strong>\u0110i\u1ec3m \u0110au:<\/strong>\r\n<ul>\r\n \t<li>Ph\u00ed FX 1,5-3% tr\u00ean chuy\u1ec3n \u0111\u1ed5i ti\u1ec1n t\u1ec7<\/li>\r\n \t<li>Truy c\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng h\u1ea1n ch\u1ebf<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>T\u00e1c \u0110\u1ed9ng Khu V\u1ef1c:<\/strong>\r\n<ul>\r\n \t<li>Nh\u00e0 giao d\u1ecbch Brazil tr\u1ea3 th\u00eam 2% tr\u00ean c\u1ed5 phi\u1ebfu M\u1ef9<\/li>\r\n \t<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 EU \u0111\u1ed1i m\u1eb7t v\u1edbi ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n m\u00e0 kh\u00f4ng c\u00f3 PFOF [13]<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<h3><strong>2.3 T\u00e2m L\u00fd C\u1ee7a \"Mi\u1ec5n Ph\u00ed\"<\/strong><\/h3>\r\nKinh t\u1ebf h\u1ecdc h\u00e0nh vi ti\u1ebft l\u1ed9 c\u00e1c m\u00f4 h\u00ecnh \u0111\u00e1ng lo ng\u1ea1i:\r\n\r\n\ud83e\udde0 <strong>Hi\u1ec7u \u1ee8ng Giao D\u1ecbch Qu\u00e1 M\u1ee9c<\/strong>\r\n<ul>\r\n \t<li>Ng\u01b0\u1eddi d\u00f9ng Robinhood giao d\u1ecbch nhi\u1ec1u h\u01a1n 5 l\u1ea7n so v\u1edbi kh\u00e1ch h\u00e0ng c\u1ee7a Schwab<\/li>\r\n \t<li>Nghi\u00ean c\u1ee9u cho th\u1ea5y c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c k\u00e9m hi\u1ec7u qu\u1ea3 h\u01a1n 6,5% h\u00e0ng n\u0103m<\/li>\r\n<\/ul>\r\n\ud83c\udfae <strong>Nguy Hi\u1ec3m C\u1ee7a Tr\u00f2 Ch\u01a1i H\u00f3a<\/strong>\r\n<ul>\r\n \t<li>Ho\u1ea1t \u1ea3nh ph\u00e1o hoa \u2192 c\u00fa \u0111\u00e1nh dopamine \u2192 giao d\u1ecbch nhi\u1ec1u h\u01a1n<\/li>\r\n \t<li>Thi\u00ean ki\u1ebfn \"v\u00e9 s\u1ed1\": 23% ng\u01b0\u1eddi d\u00f9ng theo \u0111u\u1ed5i c\u1ed5 phi\u1ebfu meme<\/li>\r\n<\/ul>\r\n\ud83d\udcb8 <strong>\u1ea2o T\u01b0\u1edfng Ti\u1ebft Ki\u1ec7m Sai L\u1ea7m<\/strong>\r\n<ul>\r\n \t<li>68% ng\u01b0\u1eddi d\u00f9ng tin r\u1eb1ng h\u1ecd kh\u00f4ng ph\u1ea3i tr\u1ea3 g\u00ec (kh\u1ea3o s\u00e1t FINRA)<\/li>\r\n \t<li>Th\u1ef1c t\u1ebf: Chi ph\u00ed \u1ea9n trung b\u00ecnh = 0,25-1% m\u1ed7i giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<h3><strong>2.4 Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p M\u1edbi<\/strong><\/h3>\r\n<strong>C\u00e2u Chuy\u1ec7n Th\u00e0nh C\u00f4ng:<\/strong>\r\n<ul>\r\n \t<li><strong>Nh\u00e0 \u0110\u1ea7u T\u01b0:<\/strong> Rachel, 35 tu\u1ed5i (gi\u00e1o vi\u00ean)<\/li>\r\n \t<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Mua 300 \u0111\u00f4 la\/tu\u1ea7n c\u1ee7a VTI v\u00e0 SCHD<\/li>\r\n \t<li><strong>N\u1ec1n T\u1ea3ng:<\/strong> Fidelity (kh\u00f4ng hoa h\u1ed3ng)<\/li>\r\n \t<li><strong>K\u1ebft Qu\u1ea3:<\/strong>\r\n<ul>\r\n \t<li>0 \u0111\u00f4 la trong ph\u00ed r\u00f5 r\u00e0ng<\/li>\r\n \t<li>Ch\u1ec9 0,01% t\u00e1c \u0111\u1ed9ng ch\u00eanh l\u1ec7ch<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 156 \u0111\u00f4 la\/n\u0103m so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi c\u0169<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<strong>C\u00e2u Chuy\u1ec7n C\u1ea3nh B\u00e1o:<\/strong>\r\n<ul>\r\n \t<li><strong>Nh\u00e0 \u0110\u1ea7u T\u01b0:<\/strong> Mark, 41 tu\u1ed5i (ch\u1ee7 nh\u00e0 h\u00e0ng)<\/li>\r\n \t<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Giao d\u1ecbch 3 l\u1ea7n m\u1ed7i ng\u00e0y s\u1eed d\u1ee5ng Robinhood Gold<\/li>\r\n \t<li><strong>Ph\u00e2n T\u00edch Chi Ph\u00ed:<\/strong>\r\n<ul>\r\n \t<li>10 \u0111\u00f4 la\/th\u00e1ng \u0111\u0103ng k\u00fd<\/li>\r\n \t<li>2.100 \u0111\u00f4 la trong t\u1ed5n th\u1ea5t ch\u00eanh l\u1ec7ch<\/li>\r\n \t<li>300 \u0111\u00f4 la trong chi ph\u00ed PFOF<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>K\u1ebft Qu\u1ea3 R\u00f2ng:<\/strong> Tr\u1ea3 3,2% nhi\u1ec1u h\u01a1n so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\r\n<\/ul>\r\n<h3><strong>2.5 Th\u1ef1c T\u1ebf To\u00e0n C\u1ea7u<\/strong><\/h3>\r\n\ud83c\udf0e <strong>Hoa K\u1ef3<\/strong>\r\n<ul>\r\n \t<li>\u01afu \u0110i\u1ec3m: Th\u1ef1c s\u1ef1 kh\u00f4ng hoa h\u1ed3ng th\u00f4ng qua PFOF<\/li>\r\n \t<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: S\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 quy \u0111\u1ecbnh (gi\u00e1m s\u00e1t c\u1ee7a SEC)<\/li>\r\n<\/ul>\r\n\ud83c\uddea\ud83c\uddfa <strong>Li\u00ean Minh Ch\u00e2u \u00c2u<\/strong>\r\n<ul>\r\n \t<li>\u01afu \u0110i\u1ec3m: Kh\u00f4ng c\u00f3 PFOF = th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\r\n \t<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: Y\u00eau c\u1ea7u s\u1ed1 d\u01b0 t\u00e0i kho\u1ea3n cao h\u01a1n (trung b\u00ecnh 2.000 euro)<\/li>\r\n<\/ul>\r\n\ud83c\udde7\ud83c\uddf7 <strong>Brazil<\/strong>\r\n<ul>\r\n \t<li>\u01afu \u0110i\u1ec3m: XP Investimentos cung c\u1ea5p giao d\u1ecbch mi\u1ec5n ph\u00ed<\/li>\r\n \t<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: Thu\u1ebf IOF 2% tr\u00ean c\u1ed5 phi\u1ebfu n\u01b0\u1edbc ngo\u00e0i<\/li>\r\n<\/ul>\r\n<strong>Th\u00f4ng Tin Quan Tr\u1ecdng:<\/strong> Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u1ea5t khi ph\u00f9 h\u1ee3p v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng th\u1eafng, c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c th\u01b0\u1eddng thua, v\u00e0 m\u1ecdi ng\u01b0\u1eddi n\u00ean ki\u1ec3m to\u00e1n chi ph\u00ed th\u1ef1c s\u1ef1 c\u1ee7a h\u1ecd h\u00e0ng qu\u00fd. Nh\u00e0 m\u00f4i gi\u1edbi \u0111\u1eaft nh\u1ea5t c\u00f3 th\u1ec3 l\u00e0 nh\u00e0 m\u00f4i gi\u1edbi c\u00f3 v\u1ebb \"mi\u1ec5n ph\u00ed\". [7]\r\n<h2><strong>\u26a0\ufe0f Ch\u01b0\u01a1ng 3: Chi Ph\u00ed \u1ea8n C\u1ee7a Giao D\u1ecbch \"Mi\u1ec5n Ph\u00ed\" - Nh\u1eefng G\u00ec H\u1ecd Kh\u00f4ng N\u00f3i V\u1edbi B\u1ea1n<\/strong><\/h2>\r\n<h3><strong>Thu\u1ebf Ch\u00eanh L\u1ec7ch: Chi Ph\u00ed Giao D\u1ecbch V\u00f4 H\u00ecnh C\u1ee7a B\u1ea1n<\/strong><\/h3>\r\nM\u1ed7i khi b\u1ea1n th\u1ef1c hi\u1ec7n m\u1ed9t giao d\u1ecbch, b\u1ea1n \u0111ang tr\u1ea3 c\u00e1i m\u00e0 c\u00e1c chuy\u00ean gia g\u1ecdi l\u00e0 \"thu\u1ebf ch\u00eanh l\u1ec7ch\" - s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n. M\u1eb7c d\u00f9 \u0111i\u1ec1u n\u00e0y t\u1ed3n t\u1ea1i trong t\u1ea5t c\u1ea3 c\u00e1c giao d\u1ecbch, c\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng th\u01b0\u1eddng c\u00f3 ch\u00eanh l\u1ec7ch r\u1ed9ng h\u01a1n:\r\n\r\n<strong>V\u00ed D\u1ee5 Th\u1ef1c T\u1ebf:<\/strong>\r\n<ul>\r\n \t<li>C\u1ed5 phi\u1ebfu XYZ hi\u1ec3n th\u1ecb 50,00 \u0111\u00f4 la (mua) - 50,05 \u0111\u00f4 la (b\u00e1n)<\/li>\r\n \t<li>Tr\u00ean m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi cao c\u1ea5p: B\u1ea1n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c 50,02 \u0111\u00f4 la<\/li>\r\n \t<li>Tr\u00ean m\u1ed9t n\u1ec1n t\u1ea3ng mi\u1ec5n ph\u00ed: B\u1ea1n th\u01b0\u1eddng nh\u1eadn \u0111\u01b0\u1ee3c 50,03 \u0111\u00f4 la ho\u1eb7c 50,04 \u0111\u00f4 la<\/li>\r\n \t<li>\u0110\u1ed1i v\u1edbi 100 c\u1ed5 phi\u1ebfu: \u0110\u00f3 l\u00e0 1-2 \u0111\u00f4 la th\u00eam m\u1ed7i giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<strong>T\u1ea1i Sao \u0110i\u1ec1u N\u00e0y Quan Tr\u1ecdng:<\/strong>\r\n<ul>\r\n \t<li>\u0110\u1ed1i v\u1edbi 50 giao d\u1ecbch\/th\u00e1ng: 50-100 \u0111\u00f4 la trong chi ph\u00ed \u1ea9n<\/li>\r\n \t<li>T\u00edch l\u0169y trong m\u1ed9t n\u0103m: 600-1.200 \u0111\u00f4 la m\u1ea5t v\u00e0o ch\u00eanh l\u1ec7ch<\/li>\r\n \t<li>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn: Ch\u00eanh l\u1ec7ch c\u00f3 th\u1ec3 t\u1ec7 h\u01a1n 5-10 l\u1ea7n [9]<\/li>\r\n<\/ul>\r\n<h3><strong>Thanh To\u00e1n Cho Lu\u1ed3ng L\u1ec7nh: Doanh Thu B\u00ed M\u1eadt C\u1ee7a Nh\u00e0 M\u00f4i Gi\u1edbi<\/strong><\/h3>\r\nKhi nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a b\u1ea1n tuy\u00ean b\u1ed1 \"kh\u00f4ng hoa h\u1ed3ng\", h\u1ecd \u0111ang ki\u1ebfm ti\u1ec1n b\u1eb1ng c\u00e1ch b\u00e1n c\u00e1c l\u1ec7nh c\u1ee7a b\u1ea1n:\r\n\r\n<strong>C\u00e1ch PFOF Ho\u1ea1t \u0110\u1ed9ng:<\/strong>\r\n<ol>\r\n \t<li>B\u1ea1n nh\u1ea5p v\u00e0o \"mua\" tr\u00ean Robinhood<\/li>\r\n \t<li>\u0110\u01a1n h\u00e0ng c\u1ee7a b\u1ea1n \u0111\u1ebfn Citadel thay v\u00ec s\u00e0n giao d\u1ecbch<\/li>\r\n \t<li>Citadel tr\u1ea3 cho Robinhood 0,002 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu<\/li>\r\n \t<li>B\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n h\u01a1i t\u1ec7 h\u01a1n (th\u01b0\u1eddng l\u00e0 0,01-0,03 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu)<\/li>\r\n<\/ol>\r\n<strong>To\u00e1n H\u1ecdc:<\/strong>\r\n<ul>\r\n \t<li>500 c\u1ed5 phi\u1ebfu\/ng\u00e0y \u00d7 0,02 \u0111\u00f4 la = 10 \u0111\u00f4 la h\u00e0ng ng\u00e0y<\/li>\r\n \t<li>250 ng\u00e0y giao d\u1ecbch = 2.500 \u0111\u00f4 la m\u1ea5t h\u00e0ng n\u0103m<\/li>\r\n<\/ul>\r\n<h3><strong>B\u1eaby D\u1eef Li\u1ec7u: Tr\u1ea3 Ti\u1ec1n Cho Nh\u1eefng G\u00ec N\u00ean Mi\u1ec5n Ph\u00ed<\/strong><\/h3>\r\nNhi\u1ec1u n\u1ec1n t\u1ea3ng \"mi\u1ec5n ph\u00ed\" t\u00ednh ph\u00ed cho c\u00e1c c\u00f4ng c\u1ee5 c\u1ea7n thi\u1ebft:\r\n\r\n<strong>Ph\u00ed \u1ea8n Th\u01b0\u1eddng G\u1eb7p:<\/strong>\r\n<ul>\r\n \t<li>D\u1eef li\u1ec7u th\u1eddi gian th\u1ef1c: 10-30 \u0111\u00f4 la\/th\u00e1ng<\/li>\r\n \t<li>B\u00e1o gi\u00e1 c\u1ea5p 2: 5-20 \u0111\u00f4 la\/th\u00e1ng<\/li>\r\n \t<li>C\u00f4ng c\u1ee5 bi\u1ec3u \u0111\u1ed3 n\u00e2ng cao: 10-50 \u0111\u00f4 la\/th\u00e1ng<\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 5:<\/strong><strong>\r\n<\/strong>James, m\u1ed9t nh\u00e0 giao d\u1ecbch b\u00e1n th\u1eddi gian, ngh\u0129 r\u1eb1ng anh \u1ea5y \u0111ang ti\u1ebft ki\u1ec7m ti\u1ec1n cho \u0111\u1ebfn khi nh\u1eadn ra:\r\n<ul>\r\n \t<li>25 \u0111\u00f4 la\/th\u00e1ng cho c\u00e1c c\u00f4ng c\u1ee5 c\u01a1 b\u1ea3n<\/li>\r\n \t<li>1.000 \u0111\u00f4 la\/n\u0103m trong th\u1ef1c hi\u1ec7n t\u1ec7 h\u01a1n\r\nT\u1ed5ng chi ph\u00ed: 1.300 \u0111\u00f4 la so v\u1edbi 500 \u0111\u00f4 la t\u1ea1i m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi cao c\u1ea5p<\/li>\r\n<\/ul>\r\n<h3><strong>Chuy\u1ec3n \u0110\u1ed5i Ti\u1ec1n T\u1ec7: C\u01a1n \u00c1c M\u1ed9ng C\u1ee7a Nh\u00e0 \u0110\u1ea7u T\u01b0 To\u00e0n C\u1ea7u<\/strong><\/h3>\r\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch kh\u00f4ng ph\u1ea3i M\u1ef9, ph\u00ed FX t\u0103ng nhanh ch\u00f3ng:\r\n\r\n<strong>Ph\u00ed Th\u00f4ng Th\u01b0\u1eddng:<\/strong>\r\n<ul>\r\n \t<li>Ph\u00ed 1% khi n\u1ea1p USD<\/li>\r\n \t<li>Ph\u00ed 1% khi chuy\u1ec3n \u0111\u1ed5i l\u1ea1i<\/li>\r\n \t<li>Ch\u00eanh l\u1ec7ch 0,5% tr\u00ean t\u1ea5t c\u1ea3 c\u00e1c c\u1ed5 phi\u1ebfu n\u01b0\u1edbc ngo\u00e0i<\/li>\r\n<\/ul>\r\n<strong>V\u00ed D\u1ee5:<\/strong><strong>\r\n<\/strong>Maria \u1edf Brazil \u0111\u1ea7u t\u01b0 10.000 \u0111\u00f4 la v\u00e0o Apple:\r\n<ul>\r\n \t<li>Ph\u00ed n\u1ea1p 100 \u0111\u00f4 la<\/li>\r\n \t<li>Chi ph\u00ed ch\u00eanh l\u1ec7ch h\u00e0ng n\u0103m 50 \u0111\u00f4 la<\/li>\r\n \t<li>100 \u0111\u00f4 la \u0111\u1ec3 r\u00fat\r\nT\u1ed5ng c\u1ed9ng: 250 \u0111\u00f4 la (2,5%) tr\u01b0\u1edbc b\u1ea5t k\u1ef3 l\u1ee3i nhu\u1eadn n\u00e0o [3]<\/li>\r\n<\/ul>\r\n<h3><strong>C\u00e1ch \u0110\u1ea5u Tranh Ch\u1ed1ng L\u1ea1i Chi Ph\u00ed \u1ea8n<\/strong><\/h3>\r\n<ol>\r\n \t<li><strong>Ki\u1ec3m Tra Ch\u1ea5t L\u01b0\u1ee3ng Th\u1ef1c Hi\u1ec7n C\u1ee7a B\u1ea1n<\/strong>\r\n<ul>\r\n \t<li>So s\u00e1nh v\u1edbi NBBO (Gi\u00e1 Mua\/B\u00e1n T\u1ed1t Nh\u1ea5t Qu\u1ed1c Gia)<\/li>\r\n \t<li>C\u00e1c c\u00f4ng c\u1ee5 mi\u1ec5n ph\u00ed nh\u01b0 TradingView c\u00f3 th\u1ec3 gi\u00fap<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>T\u00ednh To\u00e1n Chi Ph\u00ed Th\u1ef1c S\u1ef1 C\u1ee7a B\u1ea1n<\/strong>\r\n<ul>\r\n \t<li>(Gi\u00e1 th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n - gi\u00e1 trung b\u00ecnh) \u00d7 c\u1ed5 phi\u1ebfu<\/li>\r\n \t<li>Theo d\u00f5i \u0111i\u1ec1u n\u00e0y qua 20+ giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>Xem X\u00e9t C\u00e1c Nh\u00e0 M\u00f4i Gi\u1edbi Thay Th\u1ebf<\/strong>\r\n<ul>\r\n \t<li>Interactive Brokers: Hoa h\u1ed3ng th\u1ea5p nh\u01b0ng ch\u00eanh l\u1ec7ch ch\u1eb7t ch\u1ebd<\/li>\r\n \t<li>Fidelity: Giao d\u1ecbch mi\u1ec5n ph\u00ed v\u1edbi th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\r\n \t<li>Schwab: L\u1ef1a ch\u1ecdn trung b\u00ecnh t\u1ed1t<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ol>\r\n<strong>M\u1eb9o Chuy\u00ean Nghi\u1ec7p:<\/strong> \u0110\u1ed1i v\u1edbi danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00ean 50.000 \u0111\u00f4 la, tr\u1ea3 hoa h\u1ed3ng nh\u1ecf th\u01b0\u1eddng r\u1ebb h\u01a1n giao d\u1ecbch \"mi\u1ec5n ph\u00ed\" khi b\u1ea1n t\u00ednh \u0111\u1ebfn ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n.\r\n\r\n<strong>S\u1ef1 Th\u1eadt Kh\u00f3 Kh\u0103n:<\/strong> Kh\u00f4ng c\u00f3 c\u00e1i g\u1ecdi l\u00e0 giao d\u1ecbch mi\u1ec5n ph\u00ed. C\u00e2u h\u1ecfi kh\u00f4ng ph\u1ea3i l\u00e0 b\u1ea1n c\u00f3 \u0111ang tr\u1ea3 ti\u1ec1n hay kh\u00f4ng - m\u00e0 l\u00e0 <strong>bao nhi\u00eau<\/strong> v\u00e0 <strong>minh b\u1ea1ch nh\u01b0 th\u1ebf n\u00e0o<\/strong>. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh ch\u1ecdn nh\u00e0 m\u00f4i gi\u1edbi d\u1ef1a tr\u00ean t\u1ed5ng chi ph\u00ed, kh\u00f4ng ch\u1ec9 ti\u00eau \u0111\u1ec1 hoa h\u1ed3ng. [5]\r\n<h2><strong>\ud83d\udcca Ch\u01b0\u01a1ng 4: Chi\u1ebfn L\u01b0\u1ee3c Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng Th\u00f4ng Minh V\u1edbi C\u00e1c Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p Th\u1ef1c T\u1ebf<\/strong><\/h2>\r\n<h3><strong>4.1 Ch\u1ecdn N\u1ec1n T\u1ea3ng Ph\u00f9 H\u1ee3p V\u1edbi Phong C\u00e1ch Giao D\u1ecbch C\u1ee7a B\u1ea1n<\/strong><\/h3>\r\n<h4><strong>\u0110\u1ed1i V\u1edbi Nh\u00e0 \u0110\u1ea7u T\u01b0 Th\u1ee5 \u0110\u1ed9ng (Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p: Danh M\u1ee5c H\u01b0u Tr\u00ed C\u1ee7a Emma)<\/strong><\/h4>\r\n<strong>N\u1ec1n T\u1ea3ng T\u1ed1t Nh\u1ea5t:<\/strong> Robinhood, M1 Finance\r\n<strong>T\u1ea1i Sao Ch\u00fang Hi\u1ec7u Qu\u1ea3:<\/strong>\r\n<ul>\r\n \t<li>\u0110\u1ea7u t\u01b0 ETF t\u1ef1 \u0111\u1ed9ng (tuy\u1ec7t v\u1eddi cho trung b\u00ecnh gi\u00e1)<\/li>\r\n \t<li>C\u1ed5 phi\u1ebfu ph\u00e2n \u0111o\u1ea1n cho ph\u00e9p \u0111\u1ea7u t\u01b0 nh\u1ecf, th\u01b0\u1eddng xuy\u00ean<\/li>\r\n<\/ul>\r\n<strong>K\u1ebft Qu\u1ea3 C\u1ee7a Emma (32 tu\u1ed5i, Gi\u00e1o Vi\u00ean):<\/strong>\r\n<ul>\r\n \t<li>\u0110\u1ea7u t\u01b0 500 \u0111\u00f4 la\/th\u00e1ng v\u00e0o VTI v\u00e0 VXUS<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 60 \u0111\u00f4 la\/n\u0103m trong hoa h\u1ed3ng so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\r\n \t<li>Chi ph\u00ed ch\u00eanh l\u1ec7ch t\u1ed1i thi\u1ec3u ch\u1ec9 12 \u0111\u00f4 la\/n\u0103m<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m r\u00f2ng h\u00e0ng n\u0103m: 48 \u0111\u00f4 la<\/li>\r\n<\/ul>\r\n<h4><strong>\u0110\u1ed1i V\u1edbi Nh\u00e0 Giao D\u1ecbch T\u00edch C\u1ef1c (Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p: H\u00e0nh Tr\u00ecnh Giao D\u1ecbch Trong Ng\u00e0y C\u1ee7a David)<\/strong><\/h4>\r\n<strong>N\u1ec1n T\u1ea3ng \u0110\u01b0\u1ee3c Khuy\u1ebfn Ngh\u1ecb:<\/strong> Webull, TradeStation\r\n<strong>C\u00e1c T\u00ednh N\u0103ng C\u1ea7n Thi\u1ebft:<\/strong>\r\n<ul>\r\n \t<li>D\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng c\u1ea5p 2 mi\u1ec5n ph\u00ed<\/li>\r\n \t<li>C\u00f4ng c\u1ee5 bi\u1ec3u \u0111\u1ed3 n\u00e2ng cao<\/li>\r\n \t<li>T\u1ed1c \u0111\u1ed9 th\u1ef1c hi\u1ec7n nhanh<\/li>\r\n<\/ul>\r\n<strong>Kinh Nghi\u1ec7m C\u1ee7a David (28 tu\u1ed5i, Nh\u00e0 Giao D\u1ecbch B\u00e1n Th\u1eddi Gian):<\/strong>\r\n<ul>\r\n \t<li>Th\u1ef1c hi\u1ec7n 20 giao d\u1ecbch\/ng\u00e0y (400\/th\u00e1ng)<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 800 \u0111\u00f4 la\/th\u00e1ng trong hoa h\u1ed3ng<\/li>\r\n \t<li>Nh\u01b0ng tr\u1ea3 600 \u0111\u00f4 la\/th\u00e1ng trong chi ph\u00ed ch\u00eanh l\u1ec7ch v\u00e0 50 \u0111\u00f4 la cho d\u1eef li\u1ec7u<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m r\u00f2ng: 150 \u0111\u00f4 la\/th\u00e1ng (\u00edt h\u01a1n d\u1ef1 ki\u1ebfn) [6]<\/li>\r\n<\/ul>\r\n<strong>So S\u00e1nh Hi\u1ec7u Su\u1ea5t:<\/strong>\r\n<h3><strong>4.2 T\u1ed1i \u01afu H\u00f3a Th\u1ef1c Hi\u1ec7n L\u1ec7nh (V\u1edbi V\u00ed D\u1ee5)<\/strong><\/h3>\r\n<h4><strong>Chi\u1ebfn L\u01b0\u1ee3c L\u1ec7nh Gi\u1edbi H\u1ea1n Hi\u1ec7u Qu\u1ea3<\/strong><\/h4>\r\n<strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 6: T\u00e0i Kho\u1ea3n Nh\u1ecf C\u1ee7a Sarah<\/strong>\r\n<ul>\r\n \t<li>K\u00edch Th\u01b0\u1edbc T\u00e0i Kho\u1ea3n: 5.000 \u0111\u00f4 la<\/li>\r\n \t<li>Chi\u1ebfn L\u01b0\u1ee3c: \u0110\u1eb7t l\u1ec7nh gi\u1edbi h\u1ea1n t\u1ea1i \u0111i\u1ec3m gi\u1eefa c\u1ee7a ch\u00eanh l\u1ec7ch<\/li>\r\n \t<li>K\u1ebft Qu\u1ea3:\r\n<ul>\r\n \t<li>Nh\u1eadn \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n 0,02% so v\u1edbi l\u1ec7nh th\u1ecb tr\u01b0\u1eddng<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 80 \u0111\u00f4 la\/n\u0103m tr\u00ean 100 giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<strong>K\u1ef9 Thu\u1eadt N\u00e2ng Cao:<\/strong><strong>\r\n<\/strong>\u0110\u1ed1i v\u1edbi c\u1ed5 phi\u1ebfu bi\u1ebfn \u0111\u1ed9ng:\r\n<ol>\r\n \t<li>Quan s\u00e1t s\u1ed5 l\u1ec7nh trong 30 gi\u00e2y<\/li>\r\n \t<li>\u0110\u1eb7t l\u1ec7nh mua gi\u1edbi h\u1ea1n t\u1ea1i gi\u00e1 mua + 25% c\u1ee7a ch\u00eanh l\u1ec7ch<\/li>\r\n \t<li>\u0110\u1eb7t l\u1ec7nh b\u00e1n gi\u1edbi h\u1ea1n t\u1ea1i gi\u00e1 b\u00e1n - 25%<\/li>\r\n \t<li>\u0110i\u1ec1u ch\u1ec9nh m\u1ed7i 10 ph\u00fat<\/li>\r\n<\/ol>\r\n<h3><strong>4.3 Khi Tr\u1ea3 Ti\u1ec1n Th\u1ef1c S\u1ef1 Ti\u1ebft Ki\u1ec7m Ti\u1ec1n<\/strong><\/h3>\r\n<h4><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 7: Nh\u00e0 Giao D\u1ecbch Chuy\u00ean Nghi\u1ec7p Mike<\/strong><\/h4>\r\n<strong>T\u00ecnh Hu\u1ed1ng:<\/strong>\r\n<ul>\r\n \t<li>Giao d\u1ecbch 100+ h\u1ee3p \u0111\u1ed3ng\/ng\u00e0y<\/li>\r\n \t<li>S\u1eed d\u1ee5ng n\u1ec1n t\u1ea3ng \"mi\u1ec5n ph\u00ed\" nh\u01b0ng thua l\u1ed7 trong th\u1ef1c hi\u1ec7n<\/li>\r\n<\/ul>\r\n<strong>Gi\u1ea3i Ph\u00e1p:<\/strong>\r\n<ul>\r\n \t<li>Chuy\u1ec3n sang Interactive Brokers (0,65 \u0111\u00f4 la\/h\u1ee3p \u0111\u1ed3ng)<\/li>\r\n \t<li>K\u1ebft Qu\u1ea3:\r\n<ul>\r\n \t<li>Tr\u1ea3 650 \u0111\u00f4 la\/th\u00e1ng trong hoa h\u1ed3ng<\/li>\r\n \t<li>Nh\u01b0ng ti\u1ebft ki\u1ec7m 1.200 \u0111\u00f4 la\/th\u00e1ng trong th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\r\n \t<li>L\u1ee3i nhu\u1eadn r\u00f2ng: 550 \u0111\u00f4 la\/th\u00e1ng<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<strong>D\u1ecbch V\u1ee5 Cao C\u1ea5p \u0110\u00e1ng Tr\u1ea3 Ti\u1ec1n:<\/strong>\r\n<ol>\r\n \t<li>Th\u1ef1c hi\u1ec7n chuy\u00ean nghi\u1ec7p (1-5 \u0111\u00f4 la\/giao d\u1ecbch) - \u0111\u00e1ng gi\u00e1 tr\u00ean t\u00e0i kho\u1ea3n 50k \u0111\u00f4 la<\/li>\r\n \t<li>C\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a thu\u1ebf - ti\u1ebft ki\u1ec7m 15-20% trong l\u1ee3i nhu\u1eadn v\u1ed1n<\/li>\r\n \t<li>Nghi\u00ean c\u1ee9u t\u1ed5 ch\u1ee9c - c\u00f3 gi\u00e1 tr\u1ecb tr\u00ean danh m\u1ee5c \u0111\u1ea7u t\u01b0 250k \u0111\u00f4 la<\/li>\r\n<\/ol>\r\n<h3><strong>4.4 Chi\u1ebfn L\u01b0\u1ee3c N\u1ec1n T\u1ea3ng To\u00e0n C\u1ea7u<\/strong><\/h3>\r\n<h4><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 8: Carlos \u1edf Brazil<\/strong><\/h4>\r\n<strong>Th\u00e1ch Th\u1ee9c:<\/strong>\r\n<ul>\r\n \t<li>Mu\u1ed1n giao d\u1ecbch c\u1ed5 phi\u1ebfu M\u1ef9<\/li>\r\n \t<li>\u0110\u1ed1i m\u1eb7t v\u1edbi ph\u00ed FX 2% + thu\u1ebf \u0111\u1ecba ph\u01b0\u01a1ng<\/li>\r\n<\/ul>\r\n<strong>Gi\u1ea3i Ph\u00e1p:<\/strong>\r\n<ul>\r\n \t<li>S\u1eed d\u1ee5ng XP Investimentos cho c\u1ed5 phi\u1ebfu \u0111\u1ecba ph\u01b0\u01a1ng<\/li>\r\n \t<li>Interactive Brokers cho qu\u1ed1c t\u1ebf<\/li>\r\n \t<li>Ti\u1ebft ki\u1ec7m 1,5% h\u00e0ng n\u0103m tr\u00ean chi ph\u00ed FX<\/li>\r\n<\/ul>\r\n<strong>H\u01b0\u1edbng D\u1eabn Khu V\u1ef1c:<\/strong>\r\n<h3><strong>Nh\u1eefng \u0110i\u1ec3m Quan Tr\u1ecdng:<\/strong><\/h3>\r\n<ul>\r\n \t<li><strong><strong>C\u00e1c n\u1ec1n t\u1ea3ng mi\u1ec5n ph\u00ed ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u1ea5t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mua v\u00e0 gi\u1eef<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>C\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c th\u01b0\u1eddng l\u00e0m t\u1ed1t h\u01a1n v\u1edbi th\u1ef1c hi\u1ec7n tr\u1ea3 ph\u00ed<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Lu\u00f4n t\u00ednh to\u00e1n chi ph\u00ed th\u1ef1c s\u1ef1 c\u1ee7a b\u1ea1n - kh\u00f4ng ch\u1ec9 hoa h\u1ed3ng<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Xem x\u00e9t chia t\u00e0i kho\u1ea3n gi\u1eefa c\u00e1c n\u1ec1n t\u1ea3ng<\/strong><\/li>\r\n<\/ul>\r\n<strong>M\u1eb9o Chuy\u00ean Nghi\u1ec7p: Th\u1ef1c hi\u1ec7n th\u1eed nghi\u1ec7m 30 ng\u00e0y - theo d\u00f5i ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n tr\u00ean n\u1ec1n t\u1ea3ng hi\u1ec7n t\u1ea1i c\u1ee7a b\u1ea1n so v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn thay th\u1ebf. Nhi\u1ec1u nh\u00e0 giao d\u1ecbch b\u1ecb s\u1ed1c b\u1edfi k\u1ebft qu\u1ea3! <\/strong><strong>[2]<\/strong>\r\n<h2><strong>\ud83d\udd0d Ch\u01b0\u01a1ng 5: T\u01b0\u01a1ng Lai C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng - Xu H\u01b0\u1edbng V\u00e0 D\u1ef1 \u0110o\u00e1n<\/strong><\/h2>\r\n<h3><strong>5.1 B\u1ed1i C\u1ea3nh Quy \u0110\u1ecbnh Ph\u00eda Tr\u01b0\u1edbc<\/strong><\/h3>\r\n<h4><strong>Thay \u0110\u1ed5i S\u1eafp T\u1edbi Trong C\u00e1c Th\u1ecb Tr\u01b0\u1eddng L\u1edbn<\/strong><\/h4>\r\n<strong>Hoa K\u1ef3:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Quy T\u1eafc C\u1ea1nh Tranh L\u1ec7nh \u0110\u1ec1 Xu\u1ea5t C\u1ee7a SEC (2024)<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>H\u1ea1n ch\u1ebf PFOF ti\u1ec1m n\u0103ng theo sau s\u1ef1 d\u1eabn \u0111\u1ea7u c\u1ee7a EU<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Y\u00eau c\u1ea7u th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n nghi\u00eam ng\u1eb7t h\u01a1n<\/strong><\/li>\r\n<\/ul>\r\n<strong>Li\u00ean Minh Ch\u00e2u \u00c2u:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>S\u1eeda \u0111\u1ed5i MiFID III nh\u1eafm v\u00e0o thao t\u00fang ch\u00eanh l\u1ec7ch gi\u00e1<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ti\u00eau chu\u1ea9n c\u00f4ng b\u1ed1 ph\u00ed th\u1ed1ng nh\u1ea5t tr\u00ean c\u00e1c th\u00e0nh vi\u00ean EU<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Quy \u0111\u1ecbnh ch\u1eb7t ch\u1ebd h\u01a1n v\u1ec1 b\u1ec3 t\u1ed1i<\/strong><\/li>\r\n<\/ul>\r\n<strong>Ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>H\u00e0i h\u00f2a h\u00f3a c\u00e1c quy t\u1eafc giao d\u1ecbch tr\u00ean c\u00e1c th\u1ecb tr\u01b0\u1eddng ASEAN<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>T\u00edch h\u1ee3p \u0111\u1ed3ng nh\u00e2n d\u00e2n t\u1ec7 k\u1ef9 thu\u1eadt s\u1ed1 c\u1ee7a Trung Qu\u1ed1c v\u1edbi t\u00e0i kho\u1ea3n m\u00f4i gi\u1edbi<\/strong><\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc<\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 9: Th\u00ed Nghi\u1ec7m C\u1ee7a V\u01b0\u01a1ng Qu\u1ed1c Anh<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Sau l\u1ec7nh c\u1ea5m PFOF n\u0103m 2022:<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n 0,03% trung b\u00ecnh<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch gi\u1ea3m 15% trong s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ph\u00ed n\u1ec1n t\u1ea3ng xu\u1ea5t hi\u1ec7n (3-5 b\u1ea3ng Anh m\u1ed7i giao d\u1ecbch) <\/strong><strong>[5]\u00a0<\/strong><\/li>\r\n<\/ul>\r\n<h3><strong>5.2 S\u1ef1 Gi\u00e1n \u0110o\u1ea1n C\u00f4ng Ngh\u1ec7 \u0110ang \u0110\u1ecbnh H\u00ecnh L\u1ea1i Ng\u00e0nh<\/strong><\/h3>\r\n<h4><strong>T\u00edch H\u1ee3p Blockchain<\/strong><\/h4>\r\n<ul>\r\n \t<li><strong><strong>Ch\u1ee9ng kho\u00e1n m\u00e3 h\u00f3a cho ph\u00e9p giao d\u1ecbch th\u1ef1c s\u1ef1 ngang h\u00e0ng<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>H\u1ee3p \u0111\u1ed3ng th\u00f4ng minh cho thanh to\u00e1n t\u1ee9c th\u00ec (T+0)<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>V\u00ed D\u1ee5 Tr\u01b0\u1eddng H\u1ee3p: T\u00e0i kho\u1ea3n m\u00f4i gi\u1edbi t\u00edch h\u1ee3p Bitcoin c\u1ee7a Fidelity<\/strong><\/li>\r\n<\/ul>\r\n<h4><strong>Th\u1ef1c Hi\u1ec7n \u0110\u01b0\u1ee3c H\u1ed7 Tr\u1ee3 B\u1edfi AI<\/strong><\/h4>\r\n<ul>\r\n \t<li><strong><strong>Thu\u1eadt to\u00e1n \u0111\u1ecbnh tuy\u1ebfn l\u1ec7nh d\u1ef1 \u0111o\u00e1n<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>C\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a ch\u00eanh l\u1ec7ch gi\u00e1 theo th\u1eddi gian th\u1ef1c<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>H\u1ec7 th\u1ed1ng th\u1ef1c hi\u1ec7n AI c\u1ee7a JP Morgan (ti\u1ebft ki\u1ec7m 150 tri\u1ec7u \u0111\u00f4 la h\u00e0ng n\u0103m)<\/strong><\/li>\r\n<\/ul>\r\n<h4><strong>D\u00e2n Ch\u1ee7 H\u00f3a C\u00e1c C\u00f4ng C\u1ee5 T\u1ed5 Ch\u1ee9c<\/strong><\/h4>\r\n<ul>\r\n \t<li><strong><strong>Truy c\u1eadp b\u00e1n l\u1ebb v\u00e0o:<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>B\u1ed9 giao d\u1ecbch thu\u1eadt to\u00e1n<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>ETF t\u1ed5ng h\u1ee3p<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Thanh kho\u1ea3n b\u1ec3 t\u1ed1i<\/strong><\/li>\r\n<\/ul>\r\n<strong>Ph\u00e2n T\u00edch So S\u00e1nh:<\/strong>\r\n<h3><strong>5.3 Cu\u1ed9c Chi\u1ebfn N\u1ec1n T\u1ea3ng S\u1eafp T\u1edbi<\/strong><\/h3>\r\n<strong>C\u00e1c M\u00f4 H\u00ecnh Kinh Doanh M\u1edbi N\u1ed5i:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Freemium 2.0<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Giao d\u1ecbch c\u01a1 b\u1ea3n mi\u1ec5n ph\u00ed<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>50-300 \u0111\u00f4 la\/th\u00e1ng cho c\u00e1c c\u00f4ng c\u1ee5 c\u1ea5p t\u1ed5 ch\u1ee9c<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>H\u1ec7 Sinh Th\u00e1i Giao D\u1ecbch X\u00e3 H\u1ed9i<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>M\u00f4 h\u00ecnh chia s\u1ebb l\u1ee3i nhu\u1eadn<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Th\u1ecb tr\u01b0\u1eddng sao ch\u00e9p giao d\u1ecbch<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ng\u00e2n H\u00e0ng - M\u00f4i Gi\u1edbi Lai<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Chase, Marcus c\u1ee7a Goldman t\u00edch h\u1ee3p giao d\u1ecbch<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Si\u00eau th\u1ecb t\u00e0i ch\u00ednh m\u1ed9t c\u1eeda<\/strong><\/li>\r\n<\/ul>\r\n<strong>\ud83d\udcbc<\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 10: S\u1ef1 Chuy\u1ec3n \u0110\u1ed5i C\u1ee7a Robinhood (2023-2024)<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Gi\u1edbi thi\u1ec7u c\u1ea5p \"Gold Pro\" 5 \u0111\u00f4 la\/th\u00e1ng<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Th\u00eam c\u00e1c lo\u1ea1i l\u1ec7nh t\u1ed5 ch\u1ee9c<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>T\u0103ng 25% s\u1ed1 nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Nh\u01b0ng m\u1ea5t 40% s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng v\u00e0o Fidelity <\/strong><strong>[2]<\/strong><\/li>\r\n<\/ul>\r\n<h3><strong>5.4 B\u1ea3n \u0110\u1ed3 Kh\u00f4ng Hoa H\u1ed3ng To\u00e0n C\u1ea7u N\u0103m 2025<\/strong><\/h3>\r\n<strong>B\u1eafc M\u1ef9:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>PFOF c\u00f3 kh\u1ea3 n\u0103ng b\u1ecb h\u1ea1n ch\u1ebf nh\u01b0ng kh\u00f4ng b\u1ecb lo\u1ea1i b\u1ecf<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>M\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 minh b\u1ea1ch h\u01a1n<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Canada c\u00f3 th\u1ec3 theo s\u1ef1 d\u1eabn \u0111\u1ea7u c\u1ee7a M\u1ef9<\/strong><\/li>\r\n<\/ul>\r\n<strong>Ch\u00e2u \u00c2u:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Ti\u1ebfp t\u1ee5c nh\u1ea5n m\u1ea1nh v\u00e0o \u0111\u1ecbnh gi\u00e1 r\u00f5 r\u00e0ng<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ti\u1ec1m n\u0103ng b\u00f9ng n\u1ed5 \"freemium\"<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>V\u01b0\u01a1ng qu\u1ed1c Anh l\u00e0 th\u1ecb tr\u01b0\u1eddng th\u1eed nghi\u1ec7m cho c\u00e1c m\u00f4 h\u00ecnh lai<\/strong><\/li>\r\n<\/ul>\r\n<strong>Ch\u00e2u \u00c1:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>C\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng c\u1ee7a Trung Qu\u1ed1c \u0111ang to\u00e0n c\u1ea7u h\u00f3a<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>\u1ea4n \u0110\u1ed9 b\u1ea5t ng\u1edd \u0111\u1ea3o ng\u01b0\u1ee3c l\u1ec7nh c\u1ea5m PFOF<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Singapore l\u00e0 trung t\u00e2m fintech khu v\u1ef1c<\/strong><\/li>\r\n<\/ul>\r\n<strong>Ch\u00e2u M\u1ef9 Latinh:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>Brazil d\u1eabn \u0111\u1ea7u trong c\u00e1c m\u00f4 h\u00ecnh s\u00e1ng t\u1ea1o<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Mexico nhanh ch\u00f3ng \u00e1p d\u1ee5ng<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Argentina lai m\u00f4i gi\u1edbi ti\u1ec1n \u0111i\u1ec7n t\u1eed<\/strong><\/li>\r\n<\/ul>\r\n<h3><strong>5.5 Chu\u1ea9n B\u1ecb Danh M\u1ee5c \u0110\u1ea7u T\u01b0 C\u1ee7a B\u1ea1n Cho Nh\u1eefng Thay \u0110\u1ed5i<\/strong><\/h3>\r\n<strong>C\u00e1c B\u01b0\u1edbc H\u00e0nh \u0110\u1ed9ng:<\/strong>\r\n<ul>\r\n \t<li><strong><strong>\u0110a D\u1ea1ng H\u00f3a Quan H\u1ec7 M\u00f4i Gi\u1edbi C\u1ee7a B\u1ea1n<\/strong><\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Gi\u1eef m\u1ed9t s\u1ed1 t\u00e0i s\u1ea3n v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>S\u1eed d\u1ee5ng kh\u00f4ng hoa h\u1ed3ng cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>C\u1eadp Nh\u1eadt V\u1ec1 Quy \u0110\u1ecbnh<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Theo d\u00f5i th\u00f4ng b\u00e1o c\u1ee7a SEC\/ESMA<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Tham gia c\u00e1c h\u1ed9i \u0111\u1ed3ng t\u01b0 v\u1ea5n m\u00f4i gi\u1edbi<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Th\u1eed Nghi\u1ec7m C\u00f4ng Ngh\u1ec7 M\u1edbi D\u1ea7n D\u1ea7n<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Ph\u00e2n b\u1ed5 5-10% cho giao d\u1ecbch blockchain<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Th\u1eed nghi\u1ec7m v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 AI<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>Xem X\u00e9t C\u1ea5u Tr\u00fac Chi Ph\u00ed C\u1ee7a B\u1ea1n H\u00e0ng Qu\u00fd<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>T\u00ednh to\u00e1n l\u1ea1i chi ph\u00ed giao d\u1ecbch th\u1ef1c s\u1ef1 c\u1ee7a b\u1ea1n<\/strong><\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li><strong>\u0110i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c cho ph\u00f9 h\u1ee3p<\/strong><\/li>\r\n<\/ul>\r\n<strong>Quan \u0110i\u1ec3m Chuy\u00ean Gia:<\/strong><strong>\r\n<\/strong><strong>\"Ch\u00fang ta \u0111ang b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n hai c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng kh\u00f4ng hoa h\u1ed3ng, n\u01a1i s\u1ef1 minh b\u1ea1ch v\u00e0 c\u00e1c d\u1ecbch v\u1ee5 gi\u00e1 tr\u1ecb gia t\u0103ng s\u1ebd ph\u00e2n bi\u1ec7t ng\u01b0\u1eddi chi\u1ebfn th\u1eafng v\u1edbi k\u1ebb thua cu\u1ed9c. Nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng nh\u1ea5t s\u1ebd l\u00e0 nh\u1eefng ng\u01b0\u1eddi c\u00f3 th\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng c\u1ea3 h\u1ec7 sinh th\u00e1i mi\u1ec5n ph\u00ed v\u00e0 cao c\u1ea5p m\u1ed9t c\u00e1ch chi\u1ebfn l\u01b0\u1ee3c.\" - Sarah Johnson, Nh\u00e0 Ph\u00e2n T\u00edch Fintech t\u1ea1i Bloomberg Intelligence<\/strong>\r\n\r\n<strong>Suy Ngh\u0129 Cu\u1ed1i C\u00f9ng: T\u01b0\u01a1ng lai thu\u1ed9c v\u1ec1 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 linh ho\u1ea1t c\u00f3 th\u1ec3 t\u1eadn d\u1ee5ng c\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng trong khi tr\u00e1nh c\u00e1c c\u1ea1m b\u1eaby c\u1ee7a ch\u00fang. Khi b\u1ed1i c\u1ea3nh ph\u00e1t tri\u1ec3n, kh\u1ea3 n\u0103ng th\u00edch \u1ee9ng s\u1ebd c\u00f3 gi\u00e1 tr\u1ecb h\u01a1n b\u1ea5t k\u1ef3 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01a1n l\u1ebb n\u00e0o. <\/strong><strong>[6]<\/strong>\r\n<h2><strong>\ud83c\udfaf K\u1ebft lu\u1eadn: L\u00e0m ch\u1ee7 K\u1ef7 nguy\u00ean Kh\u00f4ng Ph\u00ed giao d\u1ecbch<\/strong><\/h2>\r\n<h3><strong>B\u00e0i h\u1ecdc Ch\u00ednh t\u1eeb Ph\u00e2n t\u00edch S\u00e2u c\u1ee7a ch\u00fang t\u00f4i<\/strong><\/h3>\r\nSau khi xem x\u00e9t giao d\u1ecbch kh\u00f4ng ph\u00ed t\u1eeb m\u1ecdi g\u00f3c \u0111\u1ed9, ba s\u1ef1 th\u1eadt c\u01a1 b\u1ea3n n\u1ed5i l\u00ean:\r\n<ol>\r\n \t<li><strong>Kh\u00f4ng c\u00f3 B\u1eefa tr\u01b0a Mi\u1ec5n ph\u00ed<\/strong><strong><\/strong>M\u1eb7c d\u00f9 hoa h\u1ed3ng \u0111\u00e3 bi\u1ebfn m\u1ea5t, chi ph\u00ed ch\u1ec9 \u0111\u01a1n gi\u1ea3n chuy\u1ec3n sang spreads, thanh to\u00e1n lu\u1ed3ng l\u1ec7nh v\u00e0 d\u1ecbch v\u1ee5 cao c\u1ea5p. Trader b\u00e1n l\u1ebb trung b\u00ecnh tr\u1ea3 0,1%-0,5% m\u1ed7i giao d\u1ecbch trong chi ph\u00ed \u1ea9n.<\/li>\r\n \t<li><strong>Chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a B\u1ea1n Quy\u1ebft \u0111\u1ecbnh Kho\u1ea3n Ti\u1ebft ki\u1ec7m<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng ti\u1ebft ki\u1ec7m $50-$300\/n\u0103m<\/li>\r\n \t<li>Trader t\u00edch c\u1ef1c th\u01b0\u1eddng m\u1ea5t $1.000+ h\u00e0ng n\u0103m<\/li>\r\n \t<li>Trader quy\u1ec1n ch\u1ecdn \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed \u1ea9n t\u1ec7 nh\u1ea5t<\/li>\r\n<\/ul>\r\n<ol>\r\n \t<li><strong>\u0110\u1ecba l\u00fd Quan tr\u1ecdng<\/strong><\/li>\r\n<\/ol>\r\n<ul>\r\n \t<li>Trader M\u1ef9 h\u01b0\u1edfng l\u1ee3i nhi\u1ec1u nh\u1ea5t t\u1eeb c\u00e1c m\u00f4 h\u00ecnh hi\u1ec7n t\u1ea1i<\/li>\r\n \t<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 EU c\u00f3 th\u1ef1c thi t\u1ed1t h\u01a1n nh\u01b0ng \u00edt t\u00ednh n\u0103ng h\u01a1n<\/li>\r\n \t<li>Th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed FX v\u00e0 thu\u1ebf nhi\u1ec1u l\u1edbp<\/li>\r\n<\/ul>\r\n<h3><strong>K\u1ebf ho\u1ea1ch H\u00e0nh \u0111\u1ed9ng c\u1ee7a Nh\u00e0 \u0111\u1ea7u t\u01b0<\/strong><\/h3>\r\n<strong>Cho Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u (danh m\u1ee5c $0-$25k):<\/strong>\r\n<ul>\r\n \t<li>G\u1eafn b\u00f3 v\u1edbi Robinhood\/Webull \u0111\u1ec3 h\u1ecdc<\/li>\r\n \t<li>S\u1eed d\u1ee5ng l\u1ec7nh gi\u1edbi h\u1ea1n \u0111\u1ed9c quy\u1ec1n<\/li>\r\n \t<li>Tr\u00e1nh k\u00fd qu\u1ef9 v\u00e0 quy\u1ec1n ch\u1ecdn ban \u0111\u1ea7u<\/li>\r\n<\/ul>\r\n<strong>Cho Nh\u00e0 \u0111\u1ea7u t\u01b0 Nghi\u00eam t\u00fac ($25k-$250k):<\/strong>\r\n<ul>\r\n \t<li>Chia t\u00e0i s\u1ea3n gi\u1eefa:\r\n<ul>\r\n \t<li>N\u1ec1n t\u1ea3ng kh\u00f4ng ph\u00ed cho n\u1eafm gi\u1eef d\u00e0i h\u1ea1n<\/li>\r\n \t<li>Broker cao c\u1ea5p (IBKR\/Schwab) cho giao d\u1ecbch t\u00edch c\u1ef1c<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li>Tr\u1ea3 ti\u1ec1n cho c\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a thu\u1ebf<\/li>\r\n<\/ul>\r\n<strong>Cho Trader N\u00e2ng cao ($250k+):<\/strong>\r\n<ul>\r\n \t<li>\u0110\u00e0m ph\u00e1n t\u1ef7 l\u1ec7 hoa h\u1ed3ng t\u00f9y ch\u1ec9nh<\/li>\r\n \t<li>Truy c\u1eadp \u0111\u1ecba \u0111i\u1ec3m th\u1ef1c thi th\u1ec3 ch\u1ebf<\/li>\r\n \t<li>Xem x\u00e9t thu\u00ea nh\u00e0 ph\u00e2n t\u00edch chi ph\u00ed giao d\u1ecbch<\/li>\r\n<\/ul>\r\n<h3><strong>Danh s\u00e1ch Ki\u1ec3m tra Ch\u1ed1ng t\u01b0\u01a1ng lai<\/strong><\/h3>\r\nKhi ng\u00e0nh ph\u00e1t tri\u1ec3n, th\u01b0\u1eddng xuy\u00ean:\r\n\r\n\u2705 Ki\u1ec3m to\u00e1n chi ph\u00ed th\u1ef1c c\u1ee7a b\u1ea1n (so s\u00e1nh NBBO)\r\n\r\n\u2705 C\u00e2n b\u1eb1ng l\u1ea1i gi\u1eefa c\u00e1c n\u1ec1n t\u1ea3ng h\u00e0ng n\u0103m\r\n\r\n\u2705 Ki\u1ec3m tra c\u00f4ng ngh\u1ec7 m\u1edbi c\u1ea9n th\u1eadn\r\n\r\n\u2705 Theo d\u00f5i thay \u0111\u1ed5i quy \u0111\u1ecbnh h\u00e0ng qu\u00fd\r\n<h3><strong>L\u1eddi Khuy\u00ean Cu\u1ed1i c\u00f9ng<\/strong><\/h3>\r\n\"N\u1ec1n t\u1ea3ng giao d\u1ecbch t\u1ed1t nh\u1ea5t kh\u00f4ng ph\u1ea3i l\u00e0 n\u1ec1n t\u1ea3ng c\u00f3 chi ph\u00ed qu\u1ea3ng c\u00e1o th\u1ea5p nh\u1ea5t, m\u00e0 l\u00e0 n\u1ec1n t\u1ea3ng ph\u00f9 h\u1ee3p v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n \u0111\u1ed3ng th\u1eddi cung c\u1ea5p th\u1ef1c thi minh b\u1ea1ch. Trong th\u1ecb tr\u01b0\u1eddng ng\u00e0y nay, nh\u1eefng g\u00ec b\u1ea1n kh\u00f4ng bi\u1ebft v\u1ec1 lu\u1ed3ng l\u1ec7nh c\u1ee7a m\u00ecnh c\u00f3 th\u1ec3 l\u00e0m t\u1ed5n h\u1ea1i b\u1ea1n nhi\u1ec1u h\u01a1n b\u1ea5t k\u1ef3 hoa h\u1ed3ng n\u00e0o.\"[cta_green text=\"B\u1eaft \u0111\u1ea7u Giao d\u1ecbch\"]\r\n<h2><strong>\ud83d\udcda Ngu\u1ed3n v\u00e0 T\u00e0i li\u1ec7u tham kh\u1ea3o<\/strong><\/h2>\r\n<h3><strong>Ngu\u1ed3n H\u1ecdc thu\u1eadt v\u00e0 Quy \u0111\u1ecbnh<\/strong><\/h3>\r\n<strong>\u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 Giao d\u1ecbch Hoa K\u1ef3 (SEC)<\/strong> -- <em>\"Thanh to\u00e1n cho Lu\u1ed3ng L\u1ec7nh v\u00e0 Th\u1ef1c thi T\u1ed1t nh\u1ea5t\"<\/em>(2023)\ud83d\udd17 <a href=\"https:\/\/www.sec.gov\/\\\">https:\/\/www.sec.gov<\/a>\r\n\r\n<strong>C\u01a1 quan Qu\u1ea3n l\u00fd Ch\u1ee9ng kho\u00e1n v\u00e0 Th\u1ecb tr\u01b0\u1eddng Ch\u00e2u \u00c2u (ESMA)<\/strong> -- <em>\"\u0110\u00e1nh gi\u00e1 MiFID II: M\u00f4 h\u00ecnh M\u00f4i gi\u1edbi Kh\u00f4ng Hoa h\u1ed3ng\"<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.esma.europa.eu\/\\\">https:\/\/www.esma.europa.eu<\/a>\r\n\r\n<strong>Ng\u00e2n h\u00e0ng Thanh to\u00e1n Qu\u1ed1c t\u1ebf (BIS)<\/strong> -- <em>\"Giao d\u1ecbch B\u00e1n l\u1ebb v\u00e0 Ti\u1ebfn h\u00f3a C\u1ea5u tr\u00fac Th\u1ecb tr\u01b0\u1eddng\"<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.bis.org\/\\\">https:\/\/www.bis.org<\/a>\r\n\r\n<strong>Vi\u1ec7n CFA<\/strong> -- <em>\"Chi ph\u00ed \u1ea8n c\u1ee7a Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng\"<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.cfainstitute.org\/\\\">https:\/\/www.cfainstitute.org<\/a>\r\n<h3><strong>B\u00e1o c\u00e1o Ng\u00e0nh v\u00e0 Ph\u00e2n t\u00edch<\/strong><\/h3>\r\n<strong>Bloomberg Intelligence<\/strong> -- <em>\"M\u00f4 h\u00ecnh Doanh thu M\u00f4i gi\u1edbi Kh\u00f4ng Hoa h\u1ed3ng\"<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.bloomberg.com\/professional\\\">https:\/\/www.bloomberg.com\/professional<\/a>\r\n\r\n<strong>Nghi\u00ean c\u1ee9u C\u1ed5 phi\u1ebfu JP Morgan<\/strong> -- <em>\"AI trong Th\u1ef1c thi Giao d\u1ecbch B\u00e1n l\u1ebb\"<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.jpmorgan.com\/\\\">https:\/\/www.jpmorgan.com<\/a>\r\n\r\n<strong>TradingView<\/strong> -- <em>\"So s\u00e1nh Spread To\u00e0n c\u1ea7u gi\u1eefa c\u00e1c Broker\"<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.tradingview.com\/\\\">https:\/\/www.tradingview.com<\/a>\r\n<h3><strong>Nghi\u00ean c\u1ee9u T\u00ecnh hu\u1ed1ng v\u00e0 D\u1eef li\u1ec7u Broker<\/strong><\/h3>\r\n<strong>Robinhood Markets, Inc. (N\u1ed9p h\u1ed3 s\u01a1 SEC 10-K, 2023)<\/strong><strong><\/strong>\ud83d\udd17 <a href=\"https:\/\/investors.robinhood.com\/\\\">https:\/\/investors.robinhood.com<\/a>\r\n\r\n<strong>Interactive Brokers -- B\u00e1o c\u00e1o \u0110\u1ecbnh tuy\u1ebfn L\u1ec7nh Quy t\u1eafc 606<\/strong> (Q1 2024)\ud83d\udd17 <a href=\"https:\/\/www.interactivebrokers.com\/\\\">https:\/\/www.interactivebrokers.com<\/a>\r\n\r\n<strong>\u1ee6y ban Ch\u1ee9ng kho\u00e1n Brazil (CVM) -- Nghi\u00ean c\u1ee9u Giao d\u1ecbch B\u00e1n l\u1ebb<\/strong> (2023)\ud83d\udd17 <a href=\"https:\/\/www.gov.br\/cvm\\\">https:\/\/www.gov.br\/cvm<\/a>\r\n<h3><strong>\u0110\u1ecdc th\u00eam<\/strong><\/h3>\r\n<strong>Investopedia -- \"C\u00e1ch Broker Ki\u1ebfm ti\u1ec1n Kh\u00f4ng c\u00f3 Hoa h\u1ed3ng\"<\/strong> (2024)\ud83d\udd17 <a href=\"https:\/\/www.investopedia.com\/\\\">https:\/\/www.investopedia.com<\/a>\r\n\r\n<strong>The Wall Street Journal -- \"Chi ph\u00ed Th\u1ef1c s\u1ef1 c\u1ee7a Giao d\u1ecbch Mi\u1ec5n ph\u00ed\"<\/strong> (2023)\ud83d\udd17 <a href=\"https:\/\/www.wsj.com\/\\\">https:\/\/www.wsj.com<\/a>\r\n\r\n<strong>Financial Times -- \"Xu h\u01b0\u1edbng To\u00e0n c\u1ea7u trong \u0110\u1ea7u t\u01b0 B\u00e1n l\u1ebb\"<\/strong> (2024)\ud83d\udd17 <a href=\"https:\/\/www.ft.com\/\\\">https:\/\/www.ft.com<\/a>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<p>&nbsp;<\/p>\n<p>V\u1ec1 c\u1ed1t l\u00f5i, m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng \u0111\u1ea1i di\u1ec7n cho c\u1ea3 s\u1ef1 d\u00e2n ch\u1ee7 h\u00f3a v\u00e0 th\u01b0\u01a1ng m\u1ea1i h\u00f3a \u0111\u1ea7u t\u01b0. M\u1ed9t m\u1eb7t, n\u00f3 \u0111\u00e3 lo\u1ea1i b\u1ecf c\u00e1c r\u00e0o c\u1ea3n t\u00e0i ch\u00ednh \u0111\u00e1ng k\u1ec3 t\u1eebng khi\u1ebfn giao d\u1ecbch ch\u1ee7 \u0111\u1ed9ng tr\u1edf n\u00ean qu\u00e1 \u0111\u1eaft \u0111\u1ecf \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1ecf. Nh\u1eefng ng\u00e0y m\u00e0 m\u1ed9t nh\u00e0 giao d\u1ecbch b\u00e1n l\u1ebb th\u1ea5y l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng c\u1ee7a h\u1ecd b\u1ed1c h\u01a1i d\u01b0\u1edbi s\u1ee9c n\u1eb7ng c\u1ee7a ph\u00ed hoa h\u1ed3ng 5-10 \u0111\u00f4 la m\u1ed7i giao d\u1ecbch \u0111\u00e3 qua. S\u1ef1 gi\u1ea3i ph\u00f3ng kh\u1ecfi chi ph\u00ed m\u1ed7i giao d\u1ecbch n\u00e0y \u0111\u00e3 \u0111\u1eb7c bi\u1ec7t trao quy\u1ec1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ebf h\u1ec7 millennial v\u00e0 Gen Z, th\u00fac \u0111\u1ea9y s\u1ef1 gia t\u0103ng ch\u01b0a t\u1eebng c\u00f3 trong s\u1ef1 tham gia c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u00e1n l\u1ebb th\u00f4ng qua c\u00e1c n\u1ec1n t\u1ea3ng giao d\u1ecbch di \u0111\u1ed9ng \u0111\u1ea7u ti\u00ean, b\u00f3ng b\u1ea9y.<\/p>\n<p>Tuy nhi\u00ean, b\u00ean d\u01b0\u1edbi b\u1ec1 m\u1eb7t c\u1ee7a thi\u00ean \u0111\u01b0\u1eddng nh\u00e0 \u0111\u1ea7u t\u01b0 r\u00f5 r\u00e0ng n\u00e0y l\u00e0 m\u1ed9t th\u1ef1c t\u1ebf ph\u1ee9c t\u1ea1p h\u01a1n. Vi\u1ec7c lo\u1ea1i b\u1ecf hoa h\u1ed3ng kh\u00f4ng l\u00e0m cho giao d\u1ecbch th\u1ef1c s\u1ef1 mi\u1ec5n ph\u00ed &#8211; n\u00f3 ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 thay \u0111\u1ed5i c\u1ea5u tr\u00fac chi ph\u00ed theo nh\u1eefng c\u00e1ch kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng minh b\u1ea1ch \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi d\u00f9ng cu\u1ed1i. C\u00e1c c\u00f4ng ty m\u00f4i gi\u1edbi \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c ngu\u1ed3n doanh thu thay th\u1ebf tinh vi, t\u1eeb vi\u1ec7c b\u00e1n lu\u1ed3ng l\u1ec7nh cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u1ebfn ki\u1ebfm ti\u1ec1n t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 v\u00e0 cung c\u1ea5p c\u00e1c d\u1ecbch v\u1ee5 \u0111\u0103ng k\u00fd cao c\u1ea5p. Nh\u1eefng ph\u01b0\u01a1ng ph\u00e1p ki\u1ebfm ti\u1ec1n \u1ea9n n\u00e0y \u0111\u1eb7t ra nh\u1eefng c\u00e2u h\u1ecfi quan tr\u1ecdng v\u1ec1 xung \u0111\u1ed9t l\u1ee3i \u00edch ti\u1ec1m \u1ea9n v\u00e0 li\u1ec7u c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 v\u00f4 t\u00ecnh tr\u1ea3 ti\u1ec1n theo nh\u1eefng c\u00e1ch kh\u00e1c hay kh\u00f4ng.<\/p>\n<p>Th\u1eddi \u0111i\u1ec3m c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng n\u00e0y kh\u00f4ng th\u1ec3 quan tr\u1ecdng h\u01a1n. Trong b\u1ed1i c\u1ea3nh t\u00e0i ch\u00ednh sau \u0111\u1ea1i d\u1ecbch, ch\u00fang ta \u0111\u00e3 ch\u1ee9ng ki\u1ebfn kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u00e1n l\u1ebb \u0111\u1ea1t m\u1ee9c cao k\u1ef7 l\u1ee5c, v\u1edbi c\u00e1c n\u1ec1n t\u1ea3ng nh\u01b0 eToro v\u00e0 Robinhood b\u00e1o c\u00e1o h\u00e0ng tri\u1ec7u t\u00e0i kho\u1ea3n m\u1edbi. S\u1ef1 gia t\u0103ng n\u00e0y \u0111\u00e3 tr\u00f9ng h\u1ee3p v\u1edbi &#8211; v\u00e0 c\u00f3 th\u1ec3 \u0111\u00e3 g\u00f3p ph\u1ea7n v\u00e0o &#8211; c\u00e1c hi\u1ec7n t\u01b0\u1ee3ng th\u1ecb tr\u01b0\u1eddng m\u1edbi nh\u01b0 c\u01a1n s\u1ed1t c\u1ed5 phi\u1ebfu meme, n\u01a1i s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng v\u00e0 m\u1ea1ng x\u00e3 h\u1ed9i \u0111\u00e3 t\u1ea1o ra s\u1ef1 bi\u1ebfn \u0111\u1ed9ng ch\u01b0a t\u1eebng c\u00f3 trong m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu nh\u1ea5t \u0111\u1ecbnh.<\/p>\n<p>C\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd tr\u00ean to\u00e0n th\u1ebf gi\u1edbi \u0111\u00e3 ch\u00fa \u00fd \u0111\u1ebfn nh\u1eefng di\u1ec5n bi\u1ebfn n\u00e0y. T\u1ea1i Hoa K\u1ef3, SEC \u0111\u00e3 t\u0103ng c\u01b0\u1eddng gi\u00e1m s\u00e1t c\u00e1c ho\u1ea1t \u0111\u1ed9ng thanh to\u00e1n cho lu\u1ed3ng l\u1ec7nh, trong khi c\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd ch\u00e2u \u00c2u d\u01b0\u1edbi s\u1ef1 gi\u00e1m s\u00e1t c\u1ee7a ESMA \u0111\u00e3 c\u00f3 l\u1eadp tr\u01b0\u1eddng h\u1ea1n ch\u1ebf h\u01a1n. Nh\u1eefng ph\u1ea3n \u1ee9ng quy \u0111\u1ecbnh n\u00e0y ph\u1ea3n \u00e1nh m\u1ed1i lo ng\u1ea1i ng\u00e0y c\u00e0ng t\u0103ng v\u1ec1 vi\u1ec7c li\u1ec7u m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng c\u00f3 th\u1ef1c s\u1ef1 ph\u1ee5c v\u1ee5 l\u1ee3i \u00edch c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 hay ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 \u0111\u00f3ng g\u00f3i l\u1ea1i chi ph\u00ed theo nh\u1eefng c\u00e1ch \u00edt minh b\u1ea1ch h\u01a1n.<\/p>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111i\u1ec1u h\u01b0\u1edbng m\u00f4i tr\u01b0\u1eddng m\u1edbi n\u00e0y, vi\u1ec7c hi\u1ec3u r\u00f5 c\u00e1c s\u1eafc th\u00e1i c\u1ee7a giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 tr\u1edf n\u00ean c\u1ea7n thi\u1ebft. Trong khi l\u1ee3i \u00edch cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, kh\u00f4ng th\u01b0\u1eddng xuy\u00ean l\u00e0 r\u00f5 r\u00e0ng, c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c h\u01a1n c\u1ea7n ph\u1ea3i nh\u1eadn th\u1ee9c \u0111\u01b0\u1ee3c nh\u1eefng c\u1ea1m b\u1eaby ti\u1ec1m \u1ea9n nh\u01b0:<\/p>\n<ul>\n<li>T\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c th\u1ef1c ti\u1ec5n \u0111\u1ecbnh tuy\u1ebfn l\u1ec7nh \u0111\u1ed1i v\u1edbi ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n<\/li>\n<li>C\u00e1ch ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i nhu\u1eadn giao d\u1ecbch<\/li>\n<li>C\u00e1c chi ph\u00ed \u1ea9n n\u1ea5p trong chuy\u1ec3n \u0111\u1ed5i ti\u1ec1n t\u1ec7 v\u00e0 c\u00e1c kho\u1ea3n ph\u00ed ph\u1ee5 tr\u1ee3 kh\u00e1c<\/li>\n<li>Nh\u1eefng h\u1ea1n ch\u1ebf m\u00e0 c\u00e1c n\u1ec1n t\u1ea3ng n\u00e0y c\u00f3 th\u1ec3 \u00e1p \u0111\u1eb7t \u0111\u1ed1i v\u1edbi m\u1ed9t s\u1ed1 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch nh\u1ea5t \u0111\u1ecbnh<\/li>\n<\/ul>\n<p>H\u01b0\u1edbng d\u1eabn n\u00e0y nh\u1eb1m b\u00f3c t\u00e1ch c\u00e1c l\u1edbp hi\u1ec7n t\u01b0\u1ee3ng kh\u00f4ng hoa h\u1ed3ng, cung c\u1ea5p cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eefng hi\u1ec3u bi\u1ebft c\u1ea7n thi\u1ebft \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t trong b\u1ed1i c\u1ea3nh giao d\u1ecbch \u0111\u00e3 bi\u1ebfn \u0111\u1ed5i n\u00e0y. Cho d\u00f9 b\u1ea1n l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ef9 ch\u1ec9 s\u1ed1 th\u1ee5 \u0111\u1ed9ng hay nh\u00e0 giao d\u1ecbch trong ng\u00e0y t\u00edch c\u1ef1c, vi\u1ec7c hi\u1ec3u r\u00f5 n\u01a1i chi ph\u00ed v\u00e0 l\u1ee3i \u00edch th\u1ef1c s\u1ef1 n\u1eb1m s\u1ebd r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n trong k\u1ef7 nguy\u00ean giao d\u1ecbch &#8220;mi\u1ec5n ph\u00ed&#8221;.<\/p>\n<h2><strong>\ud83d\udd0d Ch\u01b0\u01a1ng 1: C\u01a1 Ch\u1ebf \u1ea8n C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng<\/strong><\/h2>\n<h3><strong>1.1 S\u1ef1 Gi\u00e1n \u0110o\u1ea1n C\u1ee7a C\u00e1c M\u00f4 H\u00ecnh M\u00f4i Gi\u1edbi Truy\u1ec1n Th\u1ed1ng<\/strong><\/h3>\n<p>Ng\u00e0nh m\u00f4i gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t s\u1ef1 chuy\u1ec3n \u0111\u1ed5i m\u1ea1nh m\u1ebd trong th\u1eadp k\u1ef7 qua. Tr\u01b0\u1edbc n\u0103m 2013, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb th\u01b0\u1eddng xuy\u00ean ph\u1ea3i tr\u1ea3 t\u1eeb 5 \u0111\u1ebfn 30 \u0111\u00f4 la m\u1ed7i giao d\u1ecbch, v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi chi\u1ebft kh\u1ea5u nh\u01b0 E*TRADE v\u00e0 TD Ameritrade t\u00ednh ph\u00ed 7-10 \u0111\u00f4 la cho c\u00e1c giao d\u1ecbch c\u1ed5 phi\u1ebfu ti\u00eau chu\u1ea9n. C\u00e1c c\u00f4ng ty d\u1ecbch v\u1ee5 \u0111\u1ea7y \u0111\u1ee7 nh\u01b0 Merrill Lynch c\u00f3 th\u1ec3 t\u00ednh ph\u00ed 50 \u0111\u00f4 la tr\u1edf l\u00ean cho m\u1ed7i giao d\u1ecbch. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra nh\u1eefng r\u00e0o c\u1ea3n \u0111\u00e1ng k\u1ec3 \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1ecf.<\/p>\n<p>Cu\u1ed9c c\u00e1ch m\u1ea1ng b\u1eaft \u0111\u1ea7u khi Robinhood ra m\u1eaft v\u00e0o n\u0103m 2013 v\u1edbi m\u00f4 h\u00ecnh kh\u00f4ng hoa h\u1ed3ng, bu\u1ed9c to\u00e0n b\u1ed9 ng\u00e0nh ph\u1ea3i th\u00edch nghi. \u0110\u1ebfn th\u00e1ng 10 n\u0103m 2019, t\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi l\u1edbn c\u1ee7a Hoa K\u1ef3 \u0111\u00e3 lo\u1ea1i b\u1ecf ph\u00ed giao d\u1ecbch. S\u1ef1 thay \u0111\u1ed5i \u0111\u1ecba ch\u1ea5n n\u00e0y \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n nh\u1edd ba \u0111\u1ed5i m\u1edbi c\u00f4ng ngh\u1ec7 v\u00e0 t\u00e0i ch\u00ednh quan tr\u1ecdng:<\/p>\n<ol>\n<li><strong>C\u01a1 S\u1edf H\u1ea1 T\u1ea7ng \u0110i\u1ec7n To\u00e1n \u0110\u00e1m M\u00e2y<\/strong> &#8211; Gi\u1ea3m chi ph\u00ed v\u1eadn h\u00e0nh t\u1eeb 60-70% so v\u1edbi duy tr\u00ec c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u v\u1eadt l\u00fd<\/li>\n<li><strong>C\u00e1c N\u1ec1n T\u1ea3ng Di \u0110\u1ed9ng \u0110\u1ea7u Ti\u00ean<\/strong> &#8211; Lo\u1ea1i b\u1ecf nhu c\u1ea7u v\u1ec1 ph\u1ea7n m\u1ec1m giao d\u1ecbch tr\u00ean m\u00e1y t\u00ednh \u0111\u1ec3 b\u00e0n \u0111\u1eaft ti\u1ec1n<\/li>\n<li><strong>C\u00e1c Ngu\u1ed3n Doanh Thu Thay Th\u1ebf<\/strong> &#8211; Ph\u00e1t tri\u1ec3n c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ki\u1ebfm ti\u1ec1n tinh vi ngo\u00e0i hoa h\u1ed3ng [1]<\/li>\n<\/ol>\n<h3><strong>1.2 B\u1ed1n Tr\u1ee5 C\u1ed9t C\u1ee7a Doanh Thu Giao D\u1ecbch &#8220;Mi\u1ec5n Ph\u00ed&#8221;<\/strong><\/h3>\n<p>Khi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi lo\u1ea1i b\u1ecf hoa h\u1ed3ng, h\u1ecd \u0111\u00e3 thay th\u1ebf thu nh\u1eadp n\u00e0y th\u00f4ng qua b\u1ed1n k\u00eanh ch\u00ednh:<\/p>\n<ol>\n<li><strong> Thanh To\u00e1n Cho Lu\u1ed3ng L\u1ec7nh (PFOF)<\/strong><\/li>\n<\/ol>\n<ul>\n<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n th\u1ef1c hi\u1ec7n l\u1ec7nh cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng nh\u01b0 Citadel Securities v\u00e0 Virtu Financial<\/li>\n<li>C\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 mua-b\u00e1n<\/li>\n<li>N\u0103m 2023, Robinhood t\u1ea1o ra 1,8 t\u1ef7 \u0111\u00f4 la (78% t\u1ed5ng doanh thu) t\u1eeb PFOF<\/li>\n<li>Tranh c\u00e3i: T\u1ea1o ra xung \u0111\u1ed9t l\u1ee3i \u00edch ti\u1ec1m \u1ea9n trong ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n giao d\u1ecbch<\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 1: Tr\u1ea3i Nghi\u1ec7m Giao D\u1ecbch &#8220;Mi\u1ec5n Ph\u00ed&#8221; C\u1ee7a Sarah<\/strong><strong><br \/>\n<\/strong>Sarah, m\u1ed9t nh\u00e0 thi\u1ebft k\u1ebf t\u1ef1 do 28 tu\u1ed5i, mua 20 c\u1ed5 phi\u1ebfu c\u1ee7a TechCo v\u1edbi gi\u00e1 50 \u0111\u00f4 la\/c\u1ed5 phi\u1ebfu tr\u00ean Robinhood:<\/p>\n<ul>\n<li>\u0110\u01a1n h\u00e0ng c\u1ee7a c\u00f4 \u0111\u01b0\u1ee3c \u0111\u1ecbnh tuy\u1ebfn \u0111\u1ebfn Citadel thay v\u00ec tr\u1ef1c ti\u1ebfp \u0111\u1ebfn NASDAQ<\/li>\n<li>Citadel th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c 50,02 \u0111\u00f4 la (h\u01a1i t\u1ec7 h\u01a1n NBBO)<\/li>\n<li>Robinhood nh\u1eadn \u0111\u01b0\u1ee3c 0,002 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu (t\u1ed5ng c\u1ed9ng 0,04 \u0111\u00f4 la) t\u1eeb Citadel<\/li>\n<li>Trong khi Sarah th\u1ea5y &#8220;0 \u0111\u00f4 la hoa h\u1ed3ng&#8221;, c\u00f4 th\u1ef1c s\u1ef1 tr\u1ea3 th\u00eam 0,40 \u0111\u00f4 la so v\u1edbi gi\u00e1 t\u1ed1i \u01b0u<\/li>\n<\/ul>\n<ol start=\"2\">\n<li><strong> Cho Vay K\u00fd Qu\u1ef9 &amp; Qu\u1ea3n L\u00fd Ti\u1ec1n M\u1eb7t<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Ph\u00ed l\u00e3i su\u1ea5t tr\u00ean s\u1ed1 d\u01b0 k\u00fd qu\u1ef9 (th\u01b0\u1eddng l\u00e0 6,5-12% APR)<\/li>\n<li>Robinhood Gold t\u00ednh ph\u00ed 5-200 \u0111\u00f4 la\/th\u00e1ng \u0111\u1ec3 truy c\u1eadp k\u00fd qu\u1ef9<\/li>\n<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi ki\u1ebfm l\u00e3i su\u1ea5t tr\u00ean ti\u1ec1n m\u1eb7t ch\u01b0a \u0111\u1ea7u t\u01b0 (th\u01b0\u1eddng tr\u1ea3 cho ng\u01b0\u1eddi d\u00f9ng d\u01b0\u1edbi m\u1ee9c th\u1ecb tr\u01b0\u1eddng)<\/li>\n<li>Chi\u1ebfm 15-25% doanh thu t\u1ea1i h\u1ea7u h\u1ebft c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n l\u1ebb<\/li>\n<\/ul>\n<ol start=\"3\">\n<li><strong> \u0110\u0103ng K\u00fd &amp; D\u1ecbch V\u1ee5 Cao C\u1ea5p<\/strong><\/li>\n<\/ol>\n<ul>\n<li>C\u00f4ng c\u1ee5 v\u00e0 d\u1eef li\u1ec7u n\u00e2ng cao v\u1edbi ph\u00ed h\u00e0ng th\u00e1ng (5-30 \u0111\u00f4 la\/th\u00e1ng)<\/li>\n<li>V\u00ed d\u1ee5: D\u1eef li\u1ec7u c\u1ea5p 2 c\u1ee7a Webull v\u1edbi gi\u00e1 1,99 \u0111\u00f4 la, th\u00e0nh vi\u00ean &#8220;Pro&#8221; c\u1ee7a eToro v\u1edbi gi\u00e1 9,99 \u0111\u00f4 la<\/li>\n<li>Doanh thu ph\u00e1t tri\u1ec3n nhanh nh\u1ea5t (t\u0103ng tr\u01b0\u1edfng ng\u00e0nh 40% YoY) [8]<\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 2: H\u00e0nh Tr\u00ecnh Giao D\u1ecbch Trong Ng\u00e0y C\u1ee7a Mike<\/strong><strong><br \/>\n<\/strong>Mike, m\u1ed9t nh\u00e0 giao d\u1ecbch \u0111\u1ea7y tham v\u1ecdng 35 tu\u1ed5i:<\/p>\n<ul>\n<li>Ch\u1ecdn Webull cho n\u1ec1n t\u1ea3ng &#8220;mi\u1ec5n ph\u00ed&#8221; c\u1ee7a n\u00f3<\/li>\n<li>Tr\u1ea3 1,99 \u0111\u00f4 la\/th\u00e1ng cho d\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng c\u1ea5p 2<\/li>\n<li>Th\u1ef1c hi\u1ec7n 75 giao d\u1ecbch\/th\u00e1ng &#8211; ti\u1ebft ki\u1ec7m 750 \u0111\u00f4 la so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\n<li>Tuy nhi\u00ean, tr\u1ea3i nghi\u1ec7m:\n<ul>\n<li>Th\u00e2m h\u1ee5t c\u1ea3i thi\u1ec7n gi\u00e1 trung b\u00ecnh 0,03 \u0111\u00f4 la<\/li>\n<li>225 \u0111\u00f4 la trong chi ph\u00ed ch\u00eanh l\u1ec7ch t\u00edch l\u0169y<\/li>\n<li>50 \u0111\u00f4 la trong ph\u00ed \u0111\u0103ng k\u00fd<\/li>\n<\/ul>\n<\/li>\n<li>Ti\u1ebft ki\u1ec7m r\u00f2ng: 475 \u0111\u00f4 la\/th\u00e1ng (\u00edt h\u01a1n 37% so v\u1edbi d\u1ef1 ki\u1ebfn)<\/li>\n<\/ul>\n<ol start=\"4\">\n<li><strong> Chuy\u1ec3n \u0110\u1ed5i Ngo\u1ea1i T\u1ec7 &amp; Ph\u00ed Ph\u1ee5 Tr\u1ee3<\/strong><\/li>\n<\/ol>\n<ul>\n<li>\u0110\u00e1nh d\u1ea5u FX \u1ea9n (1-3%) tr\u00ean c\u00e1c giao d\u1ecbch qu\u1ed1c t\u1ebf<\/li>\n<li>Ph\u00ed chuy\u1ec3n t\u00e0i kho\u1ea3n (75-100 \u0111\u00f4 la m\u1ed7i l\u1ea7n chuy\u1ec3n)<\/li>\n<li>Ph\u00ed h\u1ee3p \u0111\u1ed3ng quy\u1ec1n ch\u1ecdn (0,50-1,00 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng)<\/li>\n<\/ul>\n<h3><strong>1.3 B\u1ed1i C\u1ea3nh Quy \u0110\u1ecbnh To\u00e0n C\u1ea7u<\/strong><\/h3>\n<p><strong>Hoa K\u1ef3:<\/strong><\/p>\n<ul>\n<li>SEC cho ph\u00e9p PFOF nh\u01b0ng y\u00eau c\u1ea7u c\u00f4ng b\u1ed1 chi ti\u1ebft (b\u00e1o c\u00e1o Quy t\u1eafc 606)<\/li>\n<li>\u0110\u1ec1 xu\u1ea5t g\u1ea7n \u0111\u00e2y \u0111\u1ec3 c\u1ea5m PFOF \u0111ang \u0111\u01b0\u1ee3c xem x\u00e9t<\/li>\n<li>Thanh to\u00e1n cho lu\u1ed3ng l\u1ec7nh chi\u1ebfm 60% doanh thu c\u1ee7a nh\u00e0 m\u00f4i gi\u1edbi b\u00e1n l\u1ebb<\/li>\n<\/ul>\n<p><strong>Li\u00ean Minh Ch\u00e2u \u00c2u:<\/strong><\/p>\n<ul>\n<li>ESMA \u0111\u00e3 c\u1ea5m hi\u1ec7u qu\u1ea3 PFOF th\u00f4ng qua c\u00e1c quy \u0111\u1ecbnh MiFID II<\/li>\n<li>C\u00e1c nh\u00e0 m\u00f4i gi\u1edbi d\u1ef1a nhi\u1ec1u h\u01a1n v\u00e0o ch\u00eanh l\u1ec7ch gi\u00e1 v\u00e0 m\u00f4 h\u00ecnh \u0111\u0103ng k\u00fd<\/li>\n<li>Ch\u00eanh l\u1ec7ch EUR\/USD \u0111i\u1ec3n h\u00ecnh 0,1-0,3% so v\u1edbi 0,02-0,05% \u1edf M\u1ef9<\/li>\n<\/ul>\n<p><strong>Th\u1ecb Tr\u01b0\u1eddng M\u1edbi N\u1ed5i:<\/strong><\/p>\n<ul>\n<li>CVM c\u1ee7a Brazil y\u00eau c\u1ea7u c\u00f4ng b\u1ed1 r\u00f5 r\u00e0ng t\u1ea5t c\u1ea3 c\u00e1c ngu\u1ed3n doanh thu<\/li>\n<li>CNBV c\u1ee7a Mexico gi\u1edbi h\u1ea1n PFOF \u1edf m\u1ee9c 0,05% gi\u00e1 tr\u1ecb giao d\u1ecbch<\/li>\n<li>SEBI c\u1ee7a \u1ea4n \u0110\u1ed9 \u0111\u00e3 c\u1ea5m ho\u00e0n to\u00e0n PFOF v\u00e0o n\u0103m 2022<\/li>\n<\/ul>\n<p><strong>Th\u00f4ng Tin Quan Tr\u1ecdng:<\/strong> M\u1eb7c d\u00f9 giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 d\u00e2n ch\u1ee7 h\u00f3a quy\u1ec1n truy c\u1eadp th\u1ecb tr\u01b0\u1eddng, c\u1ea5u tr\u00fac chi ph\u00ed th\u1ef1c s\u1ef1 t\u1ea1o ra c\u00e1c \u0111\u00e1nh \u0111\u1ed5i ph\u1ee9c t\u1ea1p gi\u1eefa kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn, ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n v\u00e0 chi ph\u00ed \u1ea9n. Hi\u1ec3u r\u00f5 nh\u1eefng c\u01a1 ch\u1ebf n\u00e0y l\u00e0 r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra l\u1ef1a ch\u1ecdn n\u1ec1n t\u1ea3ng s\u00e1ng su\u1ed1t. [4]<\/p>\n<h2><strong>\u2705 Ch\u01b0\u01a1ng 2: Nh\u1eefng Ng\u01b0\u1eddi Th\u1eafng V\u00e0 Thua Th\u1ef1c S\u1ef1 C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng<\/strong><\/h2>\n<h3><strong>2.1 Ai Th\u1ef1c S\u1ef1 H\u01b0\u1edfng L\u1ee3i?<\/strong><\/h3>\n<p>Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng \u0111\u00e3 t\u1ea1o ra nh\u1eefng ng\u01b0\u1eddi chi\u1ebfn th\u1eafng r\u00f5 r\u00e0ng, nh\u01b0ng kh\u00f4ng ph\u1ea3i t\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ec1u h\u01b0\u1edfng l\u1ee3i nh\u01b0 nhau. M\u00f4 h\u00ecnh n\u00e0y \u01b0u ti\u00ean c\u00e1c h\u1ed3 s\u01a1 ng\u01b0\u1eddi d\u00f9ng c\u1ee5 th\u1ec3:<\/p>\n<p>\u2714 <strong>Nh\u00e0 \u0110\u1ea7u T\u01b0 D\u00e0i H\u1ea1n (Ph\u00f9 H\u1ee3p Nh\u1ea5t)<\/strong><\/p>\n<ul>\n<li><strong>Ho\u1ea1t \u0110\u1ed9ng \u0110i\u1ec3n H\u00ecnh:<\/strong> 1-5 giao d\u1ecbch\/th\u00e1ng<\/li>\n<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Trung b\u00ecnh gi\u00e1 v\u00e0o c\u00e1c qu\u1ef9 ETF ho\u1eb7c c\u1ed5 phi\u1ebfu blue-chip<\/li>\n<li><strong>T\u1ea1i Sao N\u00f3 Hi\u1ec7u Qu\u1ea3:<\/strong> Kh\u00f4ng c\u00f3 ph\u00ed \u0111\u1ecbnh k\u1ef3 \u0103n v\u00e0o l\u1ee3i nhu\u1eadn k\u00e9p<\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 3:<\/strong> Maria, 45 tu\u1ed5i (k\u1ebf to\u00e1n)<\/p>\n<ul>\n<li>\u0110\u1ea7u t\u01b0 1.000 \u0111\u00f4 la h\u00e0ng th\u00e1ng v\u00e0o SPY v\u00e0 QQQ<\/li>\n<li>Ti\u1ebft ki\u1ec7m 120 \u0111\u00f4 la\/n\u0103m so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\n<li>T\u00e1c \u0111\u1ed9ng t\u1ed1i thi\u1ec3u t\u1eeb ch\u00eanh l\u1ec7ch gi\u00e1 ho\u1eb7c PFOF [10]<\/li>\n<\/ul>\n<p>\u2714 <strong>Ng\u01b0\u1eddi N\u1eafm Gi\u1eef T\u00e0i Kho\u1ea3n Nh\u1ecf (&lt;25k \u0111\u00f4 la)<\/strong><\/p>\n<ul>\n<li><strong>L\u1ee3i Th\u1ebf:<\/strong> C\u1ed5 phi\u1ebfu ph\u00e2n \u0111o\u1ea1n cho ph\u00e9p danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng<\/li>\n<li><strong>V\u00ed D\u1ee5:<\/strong> 100 \u0111\u00f4 la c\u00f3 th\u1ec3 mua c\u00e1c ph\u1ea7n c\u1ee7a Amazon, Google v\u00e0 Tesla<\/li>\n<li><strong>L\u1ee3i \u00cdch \u1ea8n:<\/strong> Kh\u00f4ng y\u00eau c\u1ea7u s\u1ed1 d\u01b0 t\u1ed1i thi\u1ec3u<\/li>\n<\/ul>\n<p>\u2714 <strong>Ng\u01b0\u1eddi D\u00f9ng Gi\u00e1o D\u1ee5c<\/strong><\/p>\n<ul>\n<li><strong>L\u1ee3i \u00cdch:<\/strong> C\u00e1ch h\u1ecdc c\u01a1 ch\u1ebf th\u1ecb tr\u01b0\u1eddng kh\u00f4ng r\u1ee7i ro<\/li>\n<li><strong>S\u1eed D\u1ee5ng L\u00fd T\u01b0\u1edfng:<\/strong> Giao d\u1ecbch gi\u1ea5y ho\u1eb7c th\u1eed nghi\u1ec7m v\u1ecb tr\u00ed vi m\u00f4<\/li>\n<\/ul>\n<h3><strong>2.2 Ai B\u1ecb T\u1ed5n Th\u01b0\u01a1ng B\u1edfi Giao D\u1ecbch &#8220;Mi\u1ec5n Ph\u00ed&#8221;?<\/strong><\/h3>\n<p>\u0110\u1ed1i v\u1edbi nh\u1eefng nh\u00e0 giao d\u1ecbch n\u00e0y, chi ph\u00ed \u1ea9n th\u01b0\u1eddng v\u01b0\u1ee3t qu\u00e1 ti\u1ebft ki\u1ec7m hoa h\u1ed3ng:<\/p>\n<p>\u274c <strong>Nh\u00e0 Giao D\u1ecbch Trong Ng\u00e0y T\u00edch C\u1ef1c (5+ giao d\u1ecbch\/ng\u00e0y)<\/strong><\/p>\n<ul>\n<li><strong>V\u1ea5n \u0110\u1ec1:<\/strong> Ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n k\u00e9m t\u00edch l\u0169y<\/li>\n<li><strong>To\u00e1n H\u1ecdc:<\/strong>\n<ul>\n<li>50 giao d\u1ecbch\/tu\u1ea7n \u00d7 0,03 \u0111\u00f4 la tr\u01b0\u1ee3t gi\u00e1 = 1.500 \u0111\u00f4 la\/n\u0103m<\/li>\n<li>X\u00f3a s\u1ea1ch b\u1ea5t k\u1ef3 kho\u1ea3n ti\u1ebft ki\u1ec7m hoa h\u1ed3ng n\u00e0o<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 4:<\/strong> David, 29 tu\u1ed5i (c\u1ef1u nh\u00e0 giao d\u1ecbch trong ng\u00e0y)<\/p>\n<ul>\n<li>Chuy\u1ec3n t\u1eeb TD sang Robinhood \u0111\u1ec3 &#8220;ti\u1ebft ki\u1ec7m ph\u00ed&#8221;<\/li>\n<li>Sau \u0111\u00f3 ph\u00e1t hi\u1ec7n ra r\u1eb1ng c\u00e1c l\u1ec7nh c\u1ee7a anh \u1ea5y lu\u00f4n t\u1ec7 h\u01a1n<\/li>\n<li>Thua l\u1ed7 r\u00f2ng: 2.100 \u0111\u00f4 la\/n\u0103m so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\n<\/ul>\n<p>\u274c <strong>Nh\u00e0 Giao D\u1ecbch Quy\u1ec1n Ch\u1ecdn<\/strong><\/p>\n<ul>\n<li><strong>Chi Ph\u00ed \u1ea8n:<\/strong>\n<ul>\n<li>0,50-1,00 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng trong PFOF<\/li>\n<li>Ph\u00ed th\u1ef1c hi\u1ec7n\/\u0111\u01b0\u1ee3c giao t\u1ea1i nhi\u1ec1u nh\u00e0 m\u00f4i gi\u1edbi<\/li>\n<\/ul>\n<\/li>\n<li><strong>V\u00ed D\u1ee5:<\/strong> B\u00e1n quy\u1ec1n ch\u1ecdn b\u00e1n tr\u00ean Robinhood so v\u1edbi Tastyworks\n<ul>\n<li>C\u00f3 v\u1ebb mi\u1ec5n ph\u00ed nh\u01b0ng m\u1ea5t 5 \u0111\u00f4 la m\u1ed7i h\u1ee3p \u0111\u1ed3ng trong th\u1ef1c hi\u1ec7n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u274c <strong>Nh\u00e0 \u0110\u1ea7u T\u01b0 Qu\u1ed1c T\u1ebf<\/strong><\/p>\n<ul>\n<li><strong>\u0110i\u1ec3m \u0110au:<\/strong>\n<ul>\n<li>Ph\u00ed FX 1,5-3% tr\u00ean chuy\u1ec3n \u0111\u1ed5i ti\u1ec1n t\u1ec7<\/li>\n<li>Truy c\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u1ecba ph\u01b0\u01a1ng h\u1ea1n ch\u1ebf<\/li>\n<\/ul>\n<\/li>\n<li><strong>T\u00e1c \u0110\u1ed9ng Khu V\u1ef1c:<\/strong>\n<ul>\n<li>Nh\u00e0 giao d\u1ecbch Brazil tr\u1ea3 th\u00eam 2% tr\u00ean c\u1ed5 phi\u1ebfu M\u1ef9<\/li>\n<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 EU \u0111\u1ed1i m\u1eb7t v\u1edbi ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n m\u00e0 kh\u00f4ng c\u00f3 PFOF [13]<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>2.3 T\u00e2m L\u00fd C\u1ee7a &#8220;Mi\u1ec5n Ph\u00ed&#8221;<\/strong><\/h3>\n<p>Kinh t\u1ebf h\u1ecdc h\u00e0nh vi ti\u1ebft l\u1ed9 c\u00e1c m\u00f4 h\u00ecnh \u0111\u00e1ng lo ng\u1ea1i:<\/p>\n<p>\ud83e\udde0 <strong>Hi\u1ec7u \u1ee8ng Giao D\u1ecbch Qu\u00e1 M\u1ee9c<\/strong><\/p>\n<ul>\n<li>Ng\u01b0\u1eddi d\u00f9ng Robinhood giao d\u1ecbch nhi\u1ec1u h\u01a1n 5 l\u1ea7n so v\u1edbi kh\u00e1ch h\u00e0ng c\u1ee7a Schwab<\/li>\n<li>Nghi\u00ean c\u1ee9u cho th\u1ea5y c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c k\u00e9m hi\u1ec7u qu\u1ea3 h\u01a1n 6,5% h\u00e0ng n\u0103m<\/li>\n<\/ul>\n<p>\ud83c\udfae <strong>Nguy Hi\u1ec3m C\u1ee7a Tr\u00f2 Ch\u01a1i H\u00f3a<\/strong><\/p>\n<ul>\n<li>Ho\u1ea1t \u1ea3nh ph\u00e1o hoa \u2192 c\u00fa \u0111\u00e1nh dopamine \u2192 giao d\u1ecbch nhi\u1ec1u h\u01a1n<\/li>\n<li>Thi\u00ean ki\u1ebfn &#8220;v\u00e9 s\u1ed1&#8221;: 23% ng\u01b0\u1eddi d\u00f9ng theo \u0111u\u1ed5i c\u1ed5 phi\u1ebfu meme<\/li>\n<\/ul>\n<p>\ud83d\udcb8 <strong>\u1ea2o T\u01b0\u1edfng Ti\u1ebft Ki\u1ec7m Sai L\u1ea7m<\/strong><\/p>\n<ul>\n<li>68% ng\u01b0\u1eddi d\u00f9ng tin r\u1eb1ng h\u1ecd kh\u00f4ng ph\u1ea3i tr\u1ea3 g\u00ec (kh\u1ea3o s\u00e1t FINRA)<\/li>\n<li>Th\u1ef1c t\u1ebf: Chi ph\u00ed \u1ea9n trung b\u00ecnh = 0,25-1% m\u1ed7i giao d\u1ecbch<\/li>\n<\/ul>\n<h3><strong>2.4 Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p M\u1edbi<\/strong><\/h3>\n<p><strong>C\u00e2u Chuy\u1ec7n Th\u00e0nh C\u00f4ng:<\/strong><\/p>\n<ul>\n<li><strong>Nh\u00e0 \u0110\u1ea7u T\u01b0:<\/strong> Rachel, 35 tu\u1ed5i (gi\u00e1o vi\u00ean)<\/li>\n<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Mua 300 \u0111\u00f4 la\/tu\u1ea7n c\u1ee7a VTI v\u00e0 SCHD<\/li>\n<li><strong>N\u1ec1n T\u1ea3ng:<\/strong> Fidelity (kh\u00f4ng hoa h\u1ed3ng)<\/li>\n<li><strong>K\u1ebft Qu\u1ea3:<\/strong>\n<ul>\n<li>0 \u0111\u00f4 la trong ph\u00ed r\u00f5 r\u00e0ng<\/li>\n<li>Ch\u1ec9 0,01% t\u00e1c \u0111\u1ed9ng ch\u00eanh l\u1ec7ch<\/li>\n<li>Ti\u1ebft ki\u1ec7m 156 \u0111\u00f4 la\/n\u0103m so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi c\u0169<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>C\u00e2u Chuy\u1ec7n C\u1ea3nh B\u00e1o:<\/strong><\/p>\n<ul>\n<li><strong>Nh\u00e0 \u0110\u1ea7u T\u01b0:<\/strong> Mark, 41 tu\u1ed5i (ch\u1ee7 nh\u00e0 h\u00e0ng)<\/li>\n<li><strong>Chi\u1ebfn L\u01b0\u1ee3c:<\/strong> Giao d\u1ecbch 3 l\u1ea7n m\u1ed7i ng\u00e0y s\u1eed d\u1ee5ng Robinhood Gold<\/li>\n<li><strong>Ph\u00e2n T\u00edch Chi Ph\u00ed:<\/strong>\n<ul>\n<li>10 \u0111\u00f4 la\/th\u00e1ng \u0111\u0103ng k\u00fd<\/li>\n<li>2.100 \u0111\u00f4 la trong t\u1ed5n th\u1ea5t ch\u00eanh l\u1ec7ch<\/li>\n<li>300 \u0111\u00f4 la trong chi ph\u00ed PFOF<\/li>\n<\/ul>\n<\/li>\n<li><strong>K\u1ebft Qu\u1ea3 R\u00f2ng:<\/strong> Tr\u1ea3 3,2% nhi\u1ec1u h\u01a1n so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\n<\/ul>\n<h3><strong>2.5 Th\u1ef1c T\u1ebf To\u00e0n C\u1ea7u<\/strong><\/h3>\n<p>\ud83c\udf0e <strong>Hoa K\u1ef3<\/strong><\/p>\n<ul>\n<li>\u01afu \u0110i\u1ec3m: Th\u1ef1c s\u1ef1 kh\u00f4ng hoa h\u1ed3ng th\u00f4ng qua PFOF<\/li>\n<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: S\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 quy \u0111\u1ecbnh (gi\u00e1m s\u00e1t c\u1ee7a SEC)<\/li>\n<\/ul>\n<p>\ud83c\uddea\ud83c\uddfa <strong>Li\u00ean Minh Ch\u00e2u \u00c2u<\/strong><\/p>\n<ul>\n<li>\u01afu \u0110i\u1ec3m: Kh\u00f4ng c\u00f3 PFOF = th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\n<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: Y\u00eau c\u1ea7u s\u1ed1 d\u01b0 t\u00e0i kho\u1ea3n cao h\u01a1n (trung b\u00ecnh 2.000 euro)<\/li>\n<\/ul>\n<p>\ud83c\udde7\ud83c\uddf7 <strong>Brazil<\/strong><\/p>\n<ul>\n<li>\u01afu \u0110i\u1ec3m: XP Investimentos cung c\u1ea5p giao d\u1ecbch mi\u1ec5n ph\u00ed<\/li>\n<li>Nh\u01b0\u1ee3c \u0110i\u1ec3m: Thu\u1ebf IOF 2% tr\u00ean c\u1ed5 phi\u1ebfu n\u01b0\u1edbc ngo\u00e0i<\/li>\n<\/ul>\n<p><strong>Th\u00f4ng Tin Quan Tr\u1ecdng:<\/strong> Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u1ea5t khi ph\u00f9 h\u1ee3p v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng th\u1eafng, c\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c th\u01b0\u1eddng thua, v\u00e0 m\u1ecdi ng\u01b0\u1eddi n\u00ean ki\u1ec3m to\u00e1n chi ph\u00ed th\u1ef1c s\u1ef1 c\u1ee7a h\u1ecd h\u00e0ng qu\u00fd. Nh\u00e0 m\u00f4i gi\u1edbi \u0111\u1eaft nh\u1ea5t c\u00f3 th\u1ec3 l\u00e0 nh\u00e0 m\u00f4i gi\u1edbi c\u00f3 v\u1ebb &#8220;mi\u1ec5n ph\u00ed&#8221;. [7]<\/p>\n<h2><strong>\u26a0\ufe0f Ch\u01b0\u01a1ng 3: Chi Ph\u00ed \u1ea8n C\u1ee7a Giao D\u1ecbch &#8220;Mi\u1ec5n Ph\u00ed&#8221; &#8211; Nh\u1eefng G\u00ec H\u1ecd Kh\u00f4ng N\u00f3i V\u1edbi B\u1ea1n<\/strong><\/h2>\n<h3><strong>Thu\u1ebf Ch\u00eanh L\u1ec7ch: Chi Ph\u00ed Giao D\u1ecbch V\u00f4 H\u00ecnh C\u1ee7a B\u1ea1n<\/strong><\/h3>\n<p>M\u1ed7i khi b\u1ea1n th\u1ef1c hi\u1ec7n m\u1ed9t giao d\u1ecbch, b\u1ea1n \u0111ang tr\u1ea3 c\u00e1i m\u00e0 c\u00e1c chuy\u00ean gia g\u1ecdi l\u00e0 &#8220;thu\u1ebf ch\u00eanh l\u1ec7ch&#8221; &#8211; s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n. M\u1eb7c d\u00f9 \u0111i\u1ec1u n\u00e0y t\u1ed3n t\u1ea1i trong t\u1ea5t c\u1ea3 c\u00e1c giao d\u1ecbch, c\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng th\u01b0\u1eddng c\u00f3 ch\u00eanh l\u1ec7ch r\u1ed9ng h\u01a1n:<\/p>\n<p><strong>V\u00ed D\u1ee5 Th\u1ef1c T\u1ebf:<\/strong><\/p>\n<ul>\n<li>C\u1ed5 phi\u1ebfu XYZ hi\u1ec3n th\u1ecb 50,00 \u0111\u00f4 la (mua) &#8211; 50,05 \u0111\u00f4 la (b\u00e1n)<\/li>\n<li>Tr\u00ean m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi cao c\u1ea5p: B\u1ea1n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c 50,02 \u0111\u00f4 la<\/li>\n<li>Tr\u00ean m\u1ed9t n\u1ec1n t\u1ea3ng mi\u1ec5n ph\u00ed: B\u1ea1n th\u01b0\u1eddng nh\u1eadn \u0111\u01b0\u1ee3c 50,03 \u0111\u00f4 la ho\u1eb7c 50,04 \u0111\u00f4 la<\/li>\n<li>\u0110\u1ed1i v\u1edbi 100 c\u1ed5 phi\u1ebfu: \u0110\u00f3 l\u00e0 1-2 \u0111\u00f4 la th\u00eam m\u1ed7i giao d\u1ecbch<\/li>\n<\/ul>\n<p><strong>T\u1ea1i Sao \u0110i\u1ec1u N\u00e0y Quan Tr\u1ecdng:<\/strong><\/p>\n<ul>\n<li>\u0110\u1ed1i v\u1edbi 50 giao d\u1ecbch\/th\u00e1ng: 50-100 \u0111\u00f4 la trong chi ph\u00ed \u1ea9n<\/li>\n<li>T\u00edch l\u0169y trong m\u1ed9t n\u0103m: 600-1.200 \u0111\u00f4 la m\u1ea5t v\u00e0o ch\u00eanh l\u1ec7ch<\/li>\n<li>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn: Ch\u00eanh l\u1ec7ch c\u00f3 th\u1ec3 t\u1ec7 h\u01a1n 5-10 l\u1ea7n [9]<\/li>\n<\/ul>\n<h3><strong>Thanh To\u00e1n Cho Lu\u1ed3ng L\u1ec7nh: Doanh Thu B\u00ed M\u1eadt C\u1ee7a Nh\u00e0 M\u00f4i Gi\u1edbi<\/strong><\/h3>\n<p>Khi nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a b\u1ea1n tuy\u00ean b\u1ed1 &#8220;kh\u00f4ng hoa h\u1ed3ng&#8221;, h\u1ecd \u0111ang ki\u1ebfm ti\u1ec1n b\u1eb1ng c\u00e1ch b\u00e1n c\u00e1c l\u1ec7nh c\u1ee7a b\u1ea1n:<\/p>\n<p><strong>C\u00e1ch PFOF Ho\u1ea1t \u0110\u1ed9ng:<\/strong><\/p>\n<ol>\n<li>B\u1ea1n nh\u1ea5p v\u00e0o &#8220;mua&#8221; tr\u00ean Robinhood<\/li>\n<li>\u0110\u01a1n h\u00e0ng c\u1ee7a b\u1ea1n \u0111\u1ebfn Citadel thay v\u00ec s\u00e0n giao d\u1ecbch<\/li>\n<li>Citadel tr\u1ea3 cho Robinhood 0,002 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu<\/li>\n<li>B\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n h\u01a1i t\u1ec7 h\u01a1n (th\u01b0\u1eddng l\u00e0 0,01-0,03 \u0111\u00f4 la m\u1ed7i c\u1ed5 phi\u1ebfu)<\/li>\n<\/ol>\n<p><strong>To\u00e1n H\u1ecdc:<\/strong><\/p>\n<ul>\n<li>500 c\u1ed5 phi\u1ebfu\/ng\u00e0y \u00d7 0,02 \u0111\u00f4 la = 10 \u0111\u00f4 la h\u00e0ng ng\u00e0y<\/li>\n<li>250 ng\u00e0y giao d\u1ecbch = 2.500 \u0111\u00f4 la m\u1ea5t h\u00e0ng n\u0103m<\/li>\n<\/ul>\n<h3><strong>B\u1eaby D\u1eef Li\u1ec7u: Tr\u1ea3 Ti\u1ec1n Cho Nh\u1eefng G\u00ec N\u00ean Mi\u1ec5n Ph\u00ed<\/strong><\/h3>\n<p>Nhi\u1ec1u n\u1ec1n t\u1ea3ng &#8220;mi\u1ec5n ph\u00ed&#8221; t\u00ednh ph\u00ed cho c\u00e1c c\u00f4ng c\u1ee5 c\u1ea7n thi\u1ebft:<\/p>\n<p><strong>Ph\u00ed \u1ea8n Th\u01b0\u1eddng G\u1eb7p:<\/strong><\/p>\n<ul>\n<li>D\u1eef li\u1ec7u th\u1eddi gian th\u1ef1c: 10-30 \u0111\u00f4 la\/th\u00e1ng<\/li>\n<li>B\u00e1o gi\u00e1 c\u1ea5p 2: 5-20 \u0111\u00f4 la\/th\u00e1ng<\/li>\n<li>C\u00f4ng c\u1ee5 bi\u1ec3u \u0111\u1ed3 n\u00e2ng cao: 10-50 \u0111\u00f4 la\/th\u00e1ng<\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 5:<\/strong><strong><br \/>\n<\/strong>James, m\u1ed9t nh\u00e0 giao d\u1ecbch b\u00e1n th\u1eddi gian, ngh\u0129 r\u1eb1ng anh \u1ea5y \u0111ang ti\u1ebft ki\u1ec7m ti\u1ec1n cho \u0111\u1ebfn khi nh\u1eadn ra:<\/p>\n<ul>\n<li>25 \u0111\u00f4 la\/th\u00e1ng cho c\u00e1c c\u00f4ng c\u1ee5 c\u01a1 b\u1ea3n<\/li>\n<li>1.000 \u0111\u00f4 la\/n\u0103m trong th\u1ef1c hi\u1ec7n t\u1ec7 h\u01a1n<br \/>\nT\u1ed5ng chi ph\u00ed: 1.300 \u0111\u00f4 la so v\u1edbi 500 \u0111\u00f4 la t\u1ea1i m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi cao c\u1ea5p<\/li>\n<\/ul>\n<h3><strong>Chuy\u1ec3n \u0110\u1ed5i Ti\u1ec1n T\u1ec7: C\u01a1n \u00c1c M\u1ed9ng C\u1ee7a Nh\u00e0 \u0110\u1ea7u T\u01b0 To\u00e0n C\u1ea7u<\/strong><\/h3>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch kh\u00f4ng ph\u1ea3i M\u1ef9, ph\u00ed FX t\u0103ng nhanh ch\u00f3ng:<\/p>\n<p><strong>Ph\u00ed Th\u00f4ng Th\u01b0\u1eddng:<\/strong><\/p>\n<ul>\n<li>Ph\u00ed 1% khi n\u1ea1p USD<\/li>\n<li>Ph\u00ed 1% khi chuy\u1ec3n \u0111\u1ed5i l\u1ea1i<\/li>\n<li>Ch\u00eanh l\u1ec7ch 0,5% tr\u00ean t\u1ea5t c\u1ea3 c\u00e1c c\u1ed5 phi\u1ebfu n\u01b0\u1edbc ngo\u00e0i<\/li>\n<\/ul>\n<p><strong>V\u00ed D\u1ee5:<\/strong><strong><br \/>\n<\/strong>Maria \u1edf Brazil \u0111\u1ea7u t\u01b0 10.000 \u0111\u00f4 la v\u00e0o Apple:<\/p>\n<ul>\n<li>Ph\u00ed n\u1ea1p 100 \u0111\u00f4 la<\/li>\n<li>Chi ph\u00ed ch\u00eanh l\u1ec7ch h\u00e0ng n\u0103m 50 \u0111\u00f4 la<\/li>\n<li>100 \u0111\u00f4 la \u0111\u1ec3 r\u00fat<br \/>\nT\u1ed5ng c\u1ed9ng: 250 \u0111\u00f4 la (2,5%) tr\u01b0\u1edbc b\u1ea5t k\u1ef3 l\u1ee3i nhu\u1eadn n\u00e0o [3]<\/li>\n<\/ul>\n<h3><strong>C\u00e1ch \u0110\u1ea5u Tranh Ch\u1ed1ng L\u1ea1i Chi Ph\u00ed \u1ea8n<\/strong><\/h3>\n<ol>\n<li><strong>Ki\u1ec3m Tra Ch\u1ea5t L\u01b0\u1ee3ng Th\u1ef1c Hi\u1ec7n C\u1ee7a B\u1ea1n<\/strong>\n<ul>\n<li>So s\u00e1nh v\u1edbi NBBO (Gi\u00e1 Mua\/B\u00e1n T\u1ed1t Nh\u1ea5t Qu\u1ed1c Gia)<\/li>\n<li>C\u00e1c c\u00f4ng c\u1ee5 mi\u1ec5n ph\u00ed nh\u01b0 TradingView c\u00f3 th\u1ec3 gi\u00fap<\/li>\n<\/ul>\n<\/li>\n<li><strong>T\u00ednh To\u00e1n Chi Ph\u00ed Th\u1ef1c S\u1ef1 C\u1ee7a B\u1ea1n<\/strong>\n<ul>\n<li>(Gi\u00e1 th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n &#8211; gi\u00e1 trung b\u00ecnh) \u00d7 c\u1ed5 phi\u1ebfu<\/li>\n<li>Theo d\u00f5i \u0111i\u1ec1u n\u00e0y qua 20+ giao d\u1ecbch<\/li>\n<\/ul>\n<\/li>\n<li><strong>Xem X\u00e9t C\u00e1c Nh\u00e0 M\u00f4i Gi\u1edbi Thay Th\u1ebf<\/strong>\n<ul>\n<li>Interactive Brokers: Hoa h\u1ed3ng th\u1ea5p nh\u01b0ng ch\u00eanh l\u1ec7ch ch\u1eb7t ch\u1ebd<\/li>\n<li>Fidelity: Giao d\u1ecbch mi\u1ec5n ph\u00ed v\u1edbi th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\n<li>Schwab: L\u1ef1a ch\u1ecdn trung b\u00ecnh t\u1ed1t<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><strong>M\u1eb9o Chuy\u00ean Nghi\u1ec7p:<\/strong> \u0110\u1ed1i v\u1edbi danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00ean 50.000 \u0111\u00f4 la, tr\u1ea3 hoa h\u1ed3ng nh\u1ecf th\u01b0\u1eddng r\u1ebb h\u01a1n giao d\u1ecbch &#8220;mi\u1ec5n ph\u00ed&#8221; khi b\u1ea1n t\u00ednh \u0111\u1ebfn ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n.<\/p>\n<p><strong>S\u1ef1 Th\u1eadt Kh\u00f3 Kh\u0103n:<\/strong> Kh\u00f4ng c\u00f3 c\u00e1i g\u1ecdi l\u00e0 giao d\u1ecbch mi\u1ec5n ph\u00ed. C\u00e2u h\u1ecfi kh\u00f4ng ph\u1ea3i l\u00e0 b\u1ea1n c\u00f3 \u0111ang tr\u1ea3 ti\u1ec1n hay kh\u00f4ng &#8211; m\u00e0 l\u00e0 <strong>bao nhi\u00eau<\/strong> v\u00e0 <strong>minh b\u1ea1ch nh\u01b0 th\u1ebf n\u00e0o<\/strong>. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh ch\u1ecdn nh\u00e0 m\u00f4i gi\u1edbi d\u1ef1a tr\u00ean t\u1ed5ng chi ph\u00ed, kh\u00f4ng ch\u1ec9 ti\u00eau \u0111\u1ec1 hoa h\u1ed3ng. [5]<\/p>\n<h2><strong>\ud83d\udcca Ch\u01b0\u01a1ng 4: Chi\u1ebfn L\u01b0\u1ee3c Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng Th\u00f4ng Minh V\u1edbi C\u00e1c Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p Th\u1ef1c T\u1ebf<\/strong><\/h2>\n<h3><strong>4.1 Ch\u1ecdn N\u1ec1n T\u1ea3ng Ph\u00f9 H\u1ee3p V\u1edbi Phong C\u00e1ch Giao D\u1ecbch C\u1ee7a B\u1ea1n<\/strong><\/h3>\n<h4><strong>\u0110\u1ed1i V\u1edbi Nh\u00e0 \u0110\u1ea7u T\u01b0 Th\u1ee5 \u0110\u1ed9ng (Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p: Danh M\u1ee5c H\u01b0u Tr\u00ed C\u1ee7a Emma)<\/strong><\/h4>\n<p><strong>N\u1ec1n T\u1ea3ng T\u1ed1t Nh\u1ea5t:<\/strong> Robinhood, M1 Finance<br \/>\n<strong>T\u1ea1i Sao Ch\u00fang Hi\u1ec7u Qu\u1ea3:<\/strong><\/p>\n<ul>\n<li>\u0110\u1ea7u t\u01b0 ETF t\u1ef1 \u0111\u1ed9ng (tuy\u1ec7t v\u1eddi cho trung b\u00ecnh gi\u00e1)<\/li>\n<li>C\u1ed5 phi\u1ebfu ph\u00e2n \u0111o\u1ea1n cho ph\u00e9p \u0111\u1ea7u t\u01b0 nh\u1ecf, th\u01b0\u1eddng xuy\u00ean<\/li>\n<\/ul>\n<p><strong>K\u1ebft Qu\u1ea3 C\u1ee7a Emma (32 tu\u1ed5i, Gi\u00e1o Vi\u00ean):<\/strong><\/p>\n<ul>\n<li>\u0110\u1ea7u t\u01b0 500 \u0111\u00f4 la\/th\u00e1ng v\u00e0o VTI v\u00e0 VXUS<\/li>\n<li>Ti\u1ebft ki\u1ec7m 60 \u0111\u00f4 la\/n\u0103m trong hoa h\u1ed3ng so v\u1edbi nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/li>\n<li>Chi ph\u00ed ch\u00eanh l\u1ec7ch t\u1ed1i thi\u1ec3u ch\u1ec9 12 \u0111\u00f4 la\/n\u0103m<\/li>\n<li>Ti\u1ebft ki\u1ec7m r\u00f2ng h\u00e0ng n\u0103m: 48 \u0111\u00f4 la<\/li>\n<\/ul>\n<h4><strong>\u0110\u1ed1i V\u1edbi Nh\u00e0 Giao D\u1ecbch T\u00edch C\u1ef1c (Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p: H\u00e0nh Tr\u00ecnh Giao D\u1ecbch Trong Ng\u00e0y C\u1ee7a David)<\/strong><\/h4>\n<p><strong>N\u1ec1n T\u1ea3ng \u0110\u01b0\u1ee3c Khuy\u1ebfn Ngh\u1ecb:<\/strong> Webull, TradeStation<br \/>\n<strong>C\u00e1c T\u00ednh N\u0103ng C\u1ea7n Thi\u1ebft:<\/strong><\/p>\n<ul>\n<li>D\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng c\u1ea5p 2 mi\u1ec5n ph\u00ed<\/li>\n<li>C\u00f4ng c\u1ee5 bi\u1ec3u \u0111\u1ed3 n\u00e2ng cao<\/li>\n<li>T\u1ed1c \u0111\u1ed9 th\u1ef1c hi\u1ec7n nhanh<\/li>\n<\/ul>\n<p><strong>Kinh Nghi\u1ec7m C\u1ee7a David (28 tu\u1ed5i, Nh\u00e0 Giao D\u1ecbch B\u00e1n Th\u1eddi Gian):<\/strong><\/p>\n<ul>\n<li>Th\u1ef1c hi\u1ec7n 20 giao d\u1ecbch\/ng\u00e0y (400\/th\u00e1ng)<\/li>\n<li>Ti\u1ebft ki\u1ec7m 800 \u0111\u00f4 la\/th\u00e1ng trong hoa h\u1ed3ng<\/li>\n<li>Nh\u01b0ng tr\u1ea3 600 \u0111\u00f4 la\/th\u00e1ng trong chi ph\u00ed ch\u00eanh l\u1ec7ch v\u00e0 50 \u0111\u00f4 la cho d\u1eef li\u1ec7u<\/li>\n<li>Ti\u1ebft ki\u1ec7m r\u00f2ng: 150 \u0111\u00f4 la\/th\u00e1ng (\u00edt h\u01a1n d\u1ef1 ki\u1ebfn) [6]<\/li>\n<\/ul>\n<p><strong>So S\u00e1nh Hi\u1ec7u Su\u1ea5t:<\/strong><\/p>\n<h3><strong>4.2 T\u1ed1i \u01afu H\u00f3a Th\u1ef1c Hi\u1ec7n L\u1ec7nh (V\u1edbi V\u00ed D\u1ee5)<\/strong><\/h3>\n<h4><strong>Chi\u1ebfn L\u01b0\u1ee3c L\u1ec7nh Gi\u1edbi H\u1ea1n Hi\u1ec7u Qu\u1ea3<\/strong><\/h4>\n<p><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 6: T\u00e0i Kho\u1ea3n Nh\u1ecf C\u1ee7a Sarah<\/strong><\/p>\n<ul>\n<li>K\u00edch Th\u01b0\u1edbc T\u00e0i Kho\u1ea3n: 5.000 \u0111\u00f4 la<\/li>\n<li>Chi\u1ebfn L\u01b0\u1ee3c: \u0110\u1eb7t l\u1ec7nh gi\u1edbi h\u1ea1n t\u1ea1i \u0111i\u1ec3m gi\u1eefa c\u1ee7a ch\u00eanh l\u1ec7ch<\/li>\n<li>K\u1ebft Qu\u1ea3:\n<ul>\n<li>Nh\u1eadn \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n 0,02% so v\u1edbi l\u1ec7nh th\u1ecb tr\u01b0\u1eddng<\/li>\n<li>Ti\u1ebft ki\u1ec7m 80 \u0111\u00f4 la\/n\u0103m tr\u00ean 100 giao d\u1ecbch<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>K\u1ef9 Thu\u1eadt N\u00e2ng Cao:<\/strong><strong><br \/>\n<\/strong>\u0110\u1ed1i v\u1edbi c\u1ed5 phi\u1ebfu bi\u1ebfn \u0111\u1ed9ng:<\/p>\n<ol>\n<li>Quan s\u00e1t s\u1ed5 l\u1ec7nh trong 30 gi\u00e2y<\/li>\n<li>\u0110\u1eb7t l\u1ec7nh mua gi\u1edbi h\u1ea1n t\u1ea1i gi\u00e1 mua + 25% c\u1ee7a ch\u00eanh l\u1ec7ch<\/li>\n<li>\u0110\u1eb7t l\u1ec7nh b\u00e1n gi\u1edbi h\u1ea1n t\u1ea1i gi\u00e1 b\u00e1n &#8211; 25%<\/li>\n<li>\u0110i\u1ec1u ch\u1ec9nh m\u1ed7i 10 ph\u00fat<\/li>\n<\/ol>\n<h3><strong>4.3 Khi Tr\u1ea3 Ti\u1ec1n Th\u1ef1c S\u1ef1 Ti\u1ebft Ki\u1ec7m Ti\u1ec1n<\/strong><\/h3>\n<h4><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 7: Nh\u00e0 Giao D\u1ecbch Chuy\u00ean Nghi\u1ec7p Mike<\/strong><\/h4>\n<p><strong>T\u00ecnh Hu\u1ed1ng:<\/strong><\/p>\n<ul>\n<li>Giao d\u1ecbch 100+ h\u1ee3p \u0111\u1ed3ng\/ng\u00e0y<\/li>\n<li>S\u1eed d\u1ee5ng n\u1ec1n t\u1ea3ng &#8220;mi\u1ec5n ph\u00ed&#8221; nh\u01b0ng thua l\u1ed7 trong th\u1ef1c hi\u1ec7n<\/li>\n<\/ul>\n<p><strong>Gi\u1ea3i Ph\u00e1p:<\/strong><\/p>\n<ul>\n<li>Chuy\u1ec3n sang Interactive Brokers (0,65 \u0111\u00f4 la\/h\u1ee3p \u0111\u1ed3ng)<\/li>\n<li>K\u1ebft Qu\u1ea3:\n<ul>\n<li>Tr\u1ea3 650 \u0111\u00f4 la\/th\u00e1ng trong hoa h\u1ed3ng<\/li>\n<li>Nh\u01b0ng ti\u1ebft ki\u1ec7m 1.200 \u0111\u00f4 la\/th\u00e1ng trong th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n<\/li>\n<li>L\u1ee3i nhu\u1eadn r\u00f2ng: 550 \u0111\u00f4 la\/th\u00e1ng<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>D\u1ecbch V\u1ee5 Cao C\u1ea5p \u0110\u00e1ng Tr\u1ea3 Ti\u1ec1n:<\/strong><\/p>\n<ol>\n<li>Th\u1ef1c hi\u1ec7n chuy\u00ean nghi\u1ec7p (1-5 \u0111\u00f4 la\/giao d\u1ecbch) &#8211; \u0111\u00e1ng gi\u00e1 tr\u00ean t\u00e0i kho\u1ea3n 50k \u0111\u00f4 la<\/li>\n<li>C\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a thu\u1ebf &#8211; ti\u1ebft ki\u1ec7m 15-20% trong l\u1ee3i nhu\u1eadn v\u1ed1n<\/li>\n<li>Nghi\u00ean c\u1ee9u t\u1ed5 ch\u1ee9c &#8211; c\u00f3 gi\u00e1 tr\u1ecb tr\u00ean danh m\u1ee5c \u0111\u1ea7u t\u01b0 250k \u0111\u00f4 la<\/li>\n<\/ol>\n<h3><strong>4.4 Chi\u1ebfn L\u01b0\u1ee3c N\u1ec1n T\u1ea3ng To\u00e0n C\u1ea7u<\/strong><\/h3>\n<h4><strong>\ud83d\udcbc <\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 8: Carlos \u1edf Brazil<\/strong><\/h4>\n<p><strong>Th\u00e1ch Th\u1ee9c:<\/strong><\/p>\n<ul>\n<li>Mu\u1ed1n giao d\u1ecbch c\u1ed5 phi\u1ebfu M\u1ef9<\/li>\n<li>\u0110\u1ed1i m\u1eb7t v\u1edbi ph\u00ed FX 2% + thu\u1ebf \u0111\u1ecba ph\u01b0\u01a1ng<\/li>\n<\/ul>\n<p><strong>Gi\u1ea3i Ph\u00e1p:<\/strong><\/p>\n<ul>\n<li>S\u1eed d\u1ee5ng XP Investimentos cho c\u1ed5 phi\u1ebfu \u0111\u1ecba ph\u01b0\u01a1ng<\/li>\n<li>Interactive Brokers cho qu\u1ed1c t\u1ebf<\/li>\n<li>Ti\u1ebft ki\u1ec7m 1,5% h\u00e0ng n\u0103m tr\u00ean chi ph\u00ed FX<\/li>\n<\/ul>\n<p><strong>H\u01b0\u1edbng D\u1eabn Khu V\u1ef1c:<\/strong><\/p>\n<h3><strong>Nh\u1eefng \u0110i\u1ec3m Quan Tr\u1ecdng:<\/strong><\/h3>\n<ul>\n<li><strong><strong>C\u00e1c n\u1ec1n t\u1ea3ng mi\u1ec5n ph\u00ed ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u1ea5t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mua v\u00e0 gi\u1eef<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>C\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c th\u01b0\u1eddng l\u00e0m t\u1ed1t h\u01a1n v\u1edbi th\u1ef1c hi\u1ec7n tr\u1ea3 ph\u00ed<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Lu\u00f4n t\u00ednh to\u00e1n chi ph\u00ed th\u1ef1c s\u1ef1 c\u1ee7a b\u1ea1n &#8211; kh\u00f4ng ch\u1ec9 hoa h\u1ed3ng<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Xem x\u00e9t chia t\u00e0i kho\u1ea3n gi\u1eefa c\u00e1c n\u1ec1n t\u1ea3ng<\/strong><\/li>\n<\/ul>\n<p><strong>M\u1eb9o Chuy\u00ean Nghi\u1ec7p: Th\u1ef1c hi\u1ec7n th\u1eed nghi\u1ec7m 30 ng\u00e0y &#8211; theo d\u00f5i ch\u1ea5t l\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n tr\u00ean n\u1ec1n t\u1ea3ng hi\u1ec7n t\u1ea1i c\u1ee7a b\u1ea1n so v\u1edbi c\u00e1c l\u1ef1a ch\u1ecdn thay th\u1ebf. Nhi\u1ec1u nh\u00e0 giao d\u1ecbch b\u1ecb s\u1ed1c b\u1edfi k\u1ebft qu\u1ea3! <\/strong><strong>[2]<\/strong><\/p>\n<h2><strong>\ud83d\udd0d Ch\u01b0\u01a1ng 5: T\u01b0\u01a1ng Lai C\u1ee7a Giao D\u1ecbch Kh\u00f4ng Hoa H\u1ed3ng &#8211; Xu H\u01b0\u1edbng V\u00e0 D\u1ef1 \u0110o\u00e1n<\/strong><\/h2>\n<h3><strong>5.1 B\u1ed1i C\u1ea3nh Quy \u0110\u1ecbnh Ph\u00eda Tr\u01b0\u1edbc<\/strong><\/h3>\n<h4><strong>Thay \u0110\u1ed5i S\u1eafp T\u1edbi Trong C\u00e1c Th\u1ecb Tr\u01b0\u1eddng L\u1edbn<\/strong><\/h4>\n<p><strong>Hoa K\u1ef3:<\/strong><\/p>\n<ul>\n<li><strong><strong>Quy T\u1eafc C\u1ea1nh Tranh L\u1ec7nh \u0110\u1ec1 Xu\u1ea5t C\u1ee7a SEC (2024)<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>H\u1ea1n ch\u1ebf PFOF ti\u1ec1m n\u0103ng theo sau s\u1ef1 d\u1eabn \u0111\u1ea7u c\u1ee7a EU<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Y\u00eau c\u1ea7u th\u1ef1c hi\u1ec7n t\u1ed1t h\u01a1n nghi\u00eam ng\u1eb7t h\u01a1n<\/strong><\/li>\n<\/ul>\n<p><strong>Li\u00ean Minh Ch\u00e2u \u00c2u:<\/strong><\/p>\n<ul>\n<li><strong><strong>S\u1eeda \u0111\u1ed5i MiFID III nh\u1eafm v\u00e0o thao t\u00fang ch\u00eanh l\u1ec7ch gi\u00e1<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ti\u00eau chu\u1ea9n c\u00f4ng b\u1ed1 ph\u00ed th\u1ed1ng nh\u1ea5t tr\u00ean c\u00e1c th\u00e0nh vi\u00ean EU<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Quy \u0111\u1ecbnh ch\u1eb7t ch\u1ebd h\u01a1n v\u1ec1 b\u1ec3 t\u1ed1i<\/strong><\/li>\n<\/ul>\n<p><strong>Ch\u00e2u \u00c1 &#8211; Th\u00e1i B\u00ecnh D\u01b0\u01a1ng:<\/strong><\/p>\n<ul>\n<li><strong><strong>H\u00e0i h\u00f2a h\u00f3a c\u00e1c quy t\u1eafc giao d\u1ecbch tr\u00ean c\u00e1c th\u1ecb tr\u01b0\u1eddng ASEAN<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>T\u00edch h\u1ee3p \u0111\u1ed3ng nh\u00e2n d\u00e2n t\u1ec7 k\u1ef9 thu\u1eadt s\u1ed1 c\u1ee7a Trung Qu\u1ed1c v\u1edbi t\u00e0i kho\u1ea3n m\u00f4i gi\u1edbi<\/strong><\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc<\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 9: Th\u00ed Nghi\u1ec7m C\u1ee7a V\u01b0\u01a1ng Qu\u1ed1c Anh<\/strong><\/p>\n<ul>\n<li><strong><strong>Sau l\u1ec7nh c\u1ea5m PFOF n\u0103m 2022:<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ch\u00eanh l\u1ec7ch gi\u00e1 r\u1ed9ng h\u01a1n 0,03% trung b\u00ecnh<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch gi\u1ea3m 15% trong s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n l\u1ebb<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ph\u00ed n\u1ec1n t\u1ea3ng xu\u1ea5t hi\u1ec7n (3-5 b\u1ea3ng Anh m\u1ed7i giao d\u1ecbch) <\/strong><strong>[5]\u00a0<\/strong><\/li>\n<\/ul>\n<h3><strong>5.2 S\u1ef1 Gi\u00e1n \u0110o\u1ea1n C\u00f4ng Ngh\u1ec7 \u0110ang \u0110\u1ecbnh H\u00ecnh L\u1ea1i Ng\u00e0nh<\/strong><\/h3>\n<h4><strong>T\u00edch H\u1ee3p Blockchain<\/strong><\/h4>\n<ul>\n<li><strong><strong>Ch\u1ee9ng kho\u00e1n m\u00e3 h\u00f3a cho ph\u00e9p giao d\u1ecbch th\u1ef1c s\u1ef1 ngang h\u00e0ng<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>H\u1ee3p \u0111\u1ed3ng th\u00f4ng minh cho thanh to\u00e1n t\u1ee9c th\u00ec (T+0)<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>V\u00ed D\u1ee5 Tr\u01b0\u1eddng H\u1ee3p: T\u00e0i kho\u1ea3n m\u00f4i gi\u1edbi t\u00edch h\u1ee3p Bitcoin c\u1ee7a Fidelity<\/strong><\/li>\n<\/ul>\n<h4><strong>Th\u1ef1c Hi\u1ec7n \u0110\u01b0\u1ee3c H\u1ed7 Tr\u1ee3 B\u1edfi AI<\/strong><\/h4>\n<ul>\n<li><strong><strong>Thu\u1eadt to\u00e1n \u0111\u1ecbnh tuy\u1ebfn l\u1ec7nh d\u1ef1 \u0111o\u00e1n<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>C\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a ch\u00eanh l\u1ec7ch gi\u00e1 theo th\u1eddi gian th\u1ef1c<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>H\u1ec7 th\u1ed1ng th\u1ef1c hi\u1ec7n AI c\u1ee7a JP Morgan (ti\u1ebft ki\u1ec7m 150 tri\u1ec7u \u0111\u00f4 la h\u00e0ng n\u0103m)<\/strong><\/li>\n<\/ul>\n<h4><strong>D\u00e2n Ch\u1ee7 H\u00f3a C\u00e1c C\u00f4ng C\u1ee5 T\u1ed5 Ch\u1ee9c<\/strong><\/h4>\n<ul>\n<li><strong><strong>Truy c\u1eadp b\u00e1n l\u1ebb v\u00e0o:<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>B\u1ed9 giao d\u1ecbch thu\u1eadt to\u00e1n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>ETF t\u1ed5ng h\u1ee3p<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Thanh kho\u1ea3n b\u1ec3 t\u1ed1i<\/strong><\/li>\n<\/ul>\n<p><strong>Ph\u00e2n T\u00edch So S\u00e1nh:<\/strong><\/p>\n<h3><strong>5.3 Cu\u1ed9c Chi\u1ebfn N\u1ec1n T\u1ea3ng S\u1eafp T\u1edbi<\/strong><\/h3>\n<p><strong>C\u00e1c M\u00f4 H\u00ecnh Kinh Doanh M\u1edbi N\u1ed5i:<\/strong><\/p>\n<ul>\n<li><strong><strong>Freemium 2.0<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Giao d\u1ecbch c\u01a1 b\u1ea3n mi\u1ec5n ph\u00ed<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>50-300 \u0111\u00f4 la\/th\u00e1ng cho c\u00e1c c\u00f4ng c\u1ee5 c\u1ea5p t\u1ed5 ch\u1ee9c<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>H\u1ec7 Sinh Th\u00e1i Giao D\u1ecbch X\u00e3 H\u1ed9i<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>M\u00f4 h\u00ecnh chia s\u1ebb l\u1ee3i nhu\u1eadn<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Th\u1ecb tr\u01b0\u1eddng sao ch\u00e9p giao d\u1ecbch<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ng\u00e2n H\u00e0ng &#8211; M\u00f4i Gi\u1edbi Lai<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Chase, Marcus c\u1ee7a Goldman t\u00edch h\u1ee3p giao d\u1ecbch<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Si\u00eau th\u1ecb t\u00e0i ch\u00ednh m\u1ed9t c\u1eeda<\/strong><\/li>\n<\/ul>\n<p><strong>\ud83d\udcbc<\/strong><strong>Nghi\u00ean C\u1ee9u Tr\u01b0\u1eddng H\u1ee3p 10: S\u1ef1 Chuy\u1ec3n \u0110\u1ed5i C\u1ee7a Robinhood (2023-2024)<\/strong><\/p>\n<ul>\n<li><strong><strong>Gi\u1edbi thi\u1ec7u c\u1ea5p &#8220;Gold Pro&#8221; 5 \u0111\u00f4 la\/th\u00e1ng<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Th\u00eam c\u00e1c lo\u1ea1i l\u1ec7nh t\u1ed5 ch\u1ee9c<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>T\u0103ng 25% s\u1ed1 nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Nh\u01b0ng m\u1ea5t 40% s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng v\u00e0o Fidelity <\/strong><strong>[2]<\/strong><\/li>\n<\/ul>\n<h3><strong>5.4 B\u1ea3n \u0110\u1ed3 Kh\u00f4ng Hoa H\u1ed3ng To\u00e0n C\u1ea7u N\u0103m 2025<\/strong><\/h3>\n<p><strong>B\u1eafc M\u1ef9:<\/strong><\/p>\n<ul>\n<li><strong><strong>PFOF c\u00f3 kh\u1ea3 n\u0103ng b\u1ecb h\u1ea1n ch\u1ebf nh\u01b0ng kh\u00f4ng b\u1ecb lo\u1ea1i b\u1ecf<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>M\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 minh b\u1ea1ch h\u01a1n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Canada c\u00f3 th\u1ec3 theo s\u1ef1 d\u1eabn \u0111\u1ea7u c\u1ee7a M\u1ef9<\/strong><\/li>\n<\/ul>\n<p><strong>Ch\u00e2u \u00c2u:<\/strong><\/p>\n<ul>\n<li><strong><strong>Ti\u1ebfp t\u1ee5c nh\u1ea5n m\u1ea1nh v\u00e0o \u0111\u1ecbnh gi\u00e1 r\u00f5 r\u00e0ng<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ti\u1ec1m n\u0103ng b\u00f9ng n\u1ed5 &#8220;freemium&#8221;<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>V\u01b0\u01a1ng qu\u1ed1c Anh l\u00e0 th\u1ecb tr\u01b0\u1eddng th\u1eed nghi\u1ec7m cho c\u00e1c m\u00f4 h\u00ecnh lai<\/strong><\/li>\n<\/ul>\n<p><strong>Ch\u00e2u \u00c1:<\/strong><\/p>\n<ul>\n<li><strong><strong>C\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng c\u1ee7a Trung Qu\u1ed1c \u0111ang to\u00e0n c\u1ea7u h\u00f3a<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>\u1ea4n \u0110\u1ed9 b\u1ea5t ng\u1edd \u0111\u1ea3o ng\u01b0\u1ee3c l\u1ec7nh c\u1ea5m PFOF<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Singapore l\u00e0 trung t\u00e2m fintech khu v\u1ef1c<\/strong><\/li>\n<\/ul>\n<p><strong>Ch\u00e2u M\u1ef9 Latinh:<\/strong><\/p>\n<ul>\n<li><strong><strong>Brazil d\u1eabn \u0111\u1ea7u trong c\u00e1c m\u00f4 h\u00ecnh s\u00e1ng t\u1ea1o<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Mexico nhanh ch\u00f3ng \u00e1p d\u1ee5ng<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Argentina lai m\u00f4i gi\u1edbi ti\u1ec1n \u0111i\u1ec7n t\u1eed<\/strong><\/li>\n<\/ul>\n<h3><strong>5.5 Chu\u1ea9n B\u1ecb Danh M\u1ee5c \u0110\u1ea7u T\u01b0 C\u1ee7a B\u1ea1n Cho Nh\u1eefng Thay \u0110\u1ed5i<\/strong><\/h3>\n<p><strong>C\u00e1c B\u01b0\u1edbc H\u00e0nh \u0110\u1ed9ng:<\/strong><\/p>\n<ul>\n<li><strong><strong>\u0110a D\u1ea1ng H\u00f3a Quan H\u1ec7 M\u00f4i Gi\u1edbi C\u1ee7a B\u1ea1n<\/strong><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Gi\u1eef m\u1ed9t s\u1ed1 t\u00e0i s\u1ea3n v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>S\u1eed d\u1ee5ng kh\u00f4ng hoa h\u1ed3ng cho c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>C\u1eadp Nh\u1eadt V\u1ec1 Quy \u0110\u1ecbnh<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Theo d\u00f5i th\u00f4ng b\u00e1o c\u1ee7a SEC\/ESMA<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Tham gia c\u00e1c h\u1ed9i \u0111\u1ed3ng t\u01b0 v\u1ea5n m\u00f4i gi\u1edbi<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Th\u1eed Nghi\u1ec7m C\u00f4ng Ngh\u1ec7 M\u1edbi D\u1ea7n D\u1ea7n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Ph\u00e2n b\u1ed5 5-10% cho giao d\u1ecbch blockchain<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Th\u1eed nghi\u1ec7m v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 AI<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Xem X\u00e9t C\u1ea5u Tr\u00fac Chi Ph\u00ed C\u1ee7a B\u1ea1n H\u00e0ng Qu\u00fd<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>T\u00ednh to\u00e1n l\u1ea1i chi ph\u00ed giao d\u1ecbch th\u1ef1c s\u1ef1 c\u1ee7a b\u1ea1n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>\u0110i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c cho ph\u00f9 h\u1ee3p<\/strong><\/li>\n<\/ul>\n<p><strong>Quan \u0110i\u1ec3m Chuy\u00ean Gia:<\/strong><strong><br \/>\n<\/strong><strong>&#8220;Ch\u00fang ta \u0111ang b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n hai c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng kh\u00f4ng hoa h\u1ed3ng, n\u01a1i s\u1ef1 minh b\u1ea1ch v\u00e0 c\u00e1c d\u1ecbch v\u1ee5 gi\u00e1 tr\u1ecb gia t\u0103ng s\u1ebd ph\u00e2n bi\u1ec7t ng\u01b0\u1eddi chi\u1ebfn th\u1eafng v\u1edbi k\u1ebb thua cu\u1ed9c. Nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng nh\u1ea5t s\u1ebd l\u00e0 nh\u1eefng ng\u01b0\u1eddi c\u00f3 th\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng c\u1ea3 h\u1ec7 sinh th\u00e1i mi\u1ec5n ph\u00ed v\u00e0 cao c\u1ea5p m\u1ed9t c\u00e1ch chi\u1ebfn l\u01b0\u1ee3c.&#8221; &#8211; Sarah Johnson, Nh\u00e0 Ph\u00e2n T\u00edch Fintech t\u1ea1i Bloomberg Intelligence<\/strong><\/p>\n<p><strong>Suy Ngh\u0129 Cu\u1ed1i C\u00f9ng: T\u01b0\u01a1ng lai thu\u1ed9c v\u1ec1 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 linh ho\u1ea1t c\u00f3 th\u1ec3 t\u1eadn d\u1ee5ng c\u00e1c n\u1ec1n t\u1ea3ng kh\u00f4ng hoa h\u1ed3ng trong khi tr\u00e1nh c\u00e1c c\u1ea1m b\u1eaby c\u1ee7a ch\u00fang. Khi b\u1ed1i c\u1ea3nh ph\u00e1t tri\u1ec3n, kh\u1ea3 n\u0103ng th\u00edch \u1ee9ng s\u1ebd c\u00f3 gi\u00e1 tr\u1ecb h\u01a1n b\u1ea5t k\u1ef3 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch \u0111\u01a1n l\u1ebb n\u00e0o. <\/strong><strong>[6]<\/strong><\/p>\n<h2><strong>\ud83c\udfaf K\u1ebft lu\u1eadn: L\u00e0m ch\u1ee7 K\u1ef7 nguy\u00ean Kh\u00f4ng Ph\u00ed giao d\u1ecbch<\/strong><\/h2>\n<h3><strong>B\u00e0i h\u1ecdc Ch\u00ednh t\u1eeb Ph\u00e2n t\u00edch S\u00e2u c\u1ee7a ch\u00fang t\u00f4i<\/strong><\/h3>\n<p>Sau khi xem x\u00e9t giao d\u1ecbch kh\u00f4ng ph\u00ed t\u1eeb m\u1ecdi g\u00f3c \u0111\u1ed9, ba s\u1ef1 th\u1eadt c\u01a1 b\u1ea3n n\u1ed5i l\u00ean:<\/p>\n<ol>\n<li><strong>Kh\u00f4ng c\u00f3 B\u1eefa tr\u01b0a Mi\u1ec5n ph\u00ed<\/strong><strong><\/strong>M\u1eb7c d\u00f9 hoa h\u1ed3ng \u0111\u00e3 bi\u1ebfn m\u1ea5t, chi ph\u00ed ch\u1ec9 \u0111\u01a1n gi\u1ea3n chuy\u1ec3n sang spreads, thanh to\u00e1n lu\u1ed3ng l\u1ec7nh v\u00e0 d\u1ecbch v\u1ee5 cao c\u1ea5p. Trader b\u00e1n l\u1ebb trung b\u00ecnh tr\u1ea3 0,1%-0,5% m\u1ed7i giao d\u1ecbch trong chi ph\u00ed \u1ea9n.<\/li>\n<li><strong>Chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a B\u1ea1n Quy\u1ebft \u0111\u1ecbnh Kho\u1ea3n Ti\u1ebft ki\u1ec7m<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng ti\u1ebft ki\u1ec7m $50-$300\/n\u0103m<\/li>\n<li>Trader t\u00edch c\u1ef1c th\u01b0\u1eddng m\u1ea5t $1.000+ h\u00e0ng n\u0103m<\/li>\n<li>Trader quy\u1ec1n ch\u1ecdn \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed \u1ea9n t\u1ec7 nh\u1ea5t<\/li>\n<\/ul>\n<ol>\n<li><strong>\u0110\u1ecba l\u00fd Quan tr\u1ecdng<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Trader M\u1ef9 h\u01b0\u1edfng l\u1ee3i nhi\u1ec1u nh\u1ea5t t\u1eeb c\u00e1c m\u00f4 h\u00ecnh hi\u1ec7n t\u1ea1i<\/li>\n<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 EU c\u00f3 th\u1ef1c thi t\u1ed1t h\u01a1n nh\u01b0ng \u00edt t\u00ednh n\u0103ng h\u01a1n<\/li>\n<li>Th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed FX v\u00e0 thu\u1ebf nhi\u1ec1u l\u1edbp<\/li>\n<\/ul>\n<h3><strong>K\u1ebf ho\u1ea1ch H\u00e0nh \u0111\u1ed9ng c\u1ee7a Nh\u00e0 \u0111\u1ea7u t\u01b0<\/strong><\/h3>\n<p><strong>Cho Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u (danh m\u1ee5c $0-$25k):<\/strong><\/p>\n<ul>\n<li>G\u1eafn b\u00f3 v\u1edbi Robinhood\/Webull \u0111\u1ec3 h\u1ecdc<\/li>\n<li>S\u1eed d\u1ee5ng l\u1ec7nh gi\u1edbi h\u1ea1n \u0111\u1ed9c quy\u1ec1n<\/li>\n<li>Tr\u00e1nh k\u00fd qu\u1ef9 v\u00e0 quy\u1ec1n ch\u1ecdn ban \u0111\u1ea7u<\/li>\n<\/ul>\n<p><strong>Cho Nh\u00e0 \u0111\u1ea7u t\u01b0 Nghi\u00eam t\u00fac ($25k-$250k):<\/strong><\/p>\n<ul>\n<li>Chia t\u00e0i s\u1ea3n gi\u1eefa:\n<ul>\n<li>N\u1ec1n t\u1ea3ng kh\u00f4ng ph\u00ed cho n\u1eafm gi\u1eef d\u00e0i h\u1ea1n<\/li>\n<li>Broker cao c\u1ea5p (IBKR\/Schwab) cho giao d\u1ecbch t\u00edch c\u1ef1c<\/li>\n<\/ul>\n<\/li>\n<li>Tr\u1ea3 ti\u1ec1n cho c\u00f4ng c\u1ee5 t\u1ed1i \u01b0u h\u00f3a thu\u1ebf<\/li>\n<\/ul>\n<p><strong>Cho Trader N\u00e2ng cao ($250k+):<\/strong><\/p>\n<ul>\n<li>\u0110\u00e0m ph\u00e1n t\u1ef7 l\u1ec7 hoa h\u1ed3ng t\u00f9y ch\u1ec9nh<\/li>\n<li>Truy c\u1eadp \u0111\u1ecba \u0111i\u1ec3m th\u1ef1c thi th\u1ec3 ch\u1ebf<\/li>\n<li>Xem x\u00e9t thu\u00ea nh\u00e0 ph\u00e2n t\u00edch chi ph\u00ed giao d\u1ecbch<\/li>\n<\/ul>\n<h3><strong>Danh s\u00e1ch Ki\u1ec3m tra Ch\u1ed1ng t\u01b0\u01a1ng lai<\/strong><\/h3>\n<p>Khi ng\u00e0nh ph\u00e1t tri\u1ec3n, th\u01b0\u1eddng xuy\u00ean:<\/p>\n<p>\u2705 Ki\u1ec3m to\u00e1n chi ph\u00ed th\u1ef1c c\u1ee7a b\u1ea1n (so s\u00e1nh NBBO)<\/p>\n<p>\u2705 C\u00e2n b\u1eb1ng l\u1ea1i gi\u1eefa c\u00e1c n\u1ec1n t\u1ea3ng h\u00e0ng n\u0103m<\/p>\n<p>\u2705 Ki\u1ec3m tra c\u00f4ng ngh\u1ec7 m\u1edbi c\u1ea9n th\u1eadn<\/p>\n<p>\u2705 Theo d\u00f5i thay \u0111\u1ed5i quy \u0111\u1ecbnh h\u00e0ng qu\u00fd<\/p>\n<h3><strong>L\u1eddi Khuy\u00ean Cu\u1ed1i c\u00f9ng<\/strong><\/h3>\n<p>&#8220;N\u1ec1n t\u1ea3ng giao d\u1ecbch t\u1ed1t nh\u1ea5t kh\u00f4ng ph\u1ea3i l\u00e0 n\u1ec1n t\u1ea3ng c\u00f3 chi ph\u00ed qu\u1ea3ng c\u00e1o th\u1ea5p nh\u1ea5t, m\u00e0 l\u00e0 n\u1ec1n t\u1ea3ng ph\u00f9 h\u1ee3p v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n \u0111\u1ed3ng th\u1eddi cung c\u1ea5p th\u1ef1c thi minh b\u1ea1ch. Trong th\u1ecb tr\u01b0\u1eddng ng\u00e0y nay, nh\u1eefng g\u00ec b\u1ea1n kh\u00f4ng bi\u1ebft v\u1ec1 lu\u1ed3ng l\u1ec7nh c\u1ee7a m\u00ecnh c\u00f3 th\u1ec3 l\u00e0m t\u1ed5n h\u1ea1i b\u1ea1n nhi\u1ec1u h\u01a1n b\u1ea5t k\u1ef3 hoa h\u1ed3ng n\u00e0o.&#8221;<div class=\"po-container po-container_width_article\">\n   <div class=\"po-cta-green__wrap\">\n      <a href=\"https:\/\/pocketoption.com\/vt\/register\/\" class=\"po-cta-green\">B\u1eaft \u0111\u1ea7u Giao d\u1ecbch\n         <span class=\"po-cta-green__icon\">\n            <svg width=\"24\" height=\"24\" fill=\"none\" aria-hidden=\"true\">\n               <use href=\"#svg-arrow-cta\"><\/use>\n            <\/svg>\n         <\/span>\n      <\/a>\n   <\/div>\n<\/div><\/p>\n<h2><strong>\ud83d\udcda Ngu\u1ed3n v\u00e0 T\u00e0i li\u1ec7u tham kh\u1ea3o<\/strong><\/h2>\n<h3><strong>Ngu\u1ed3n H\u1ecdc thu\u1eadt v\u00e0 Quy \u0111\u1ecbnh<\/strong><\/h3>\n<p><strong>\u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 Giao d\u1ecbch Hoa K\u1ef3 (SEC)<\/strong> &#8212; <em>&#8220;Thanh to\u00e1n cho Lu\u1ed3ng L\u1ec7nh v\u00e0 Th\u1ef1c thi T\u1ed1t nh\u1ea5t&#8221;<\/em>(2023)\ud83d\udd17 <a href=\"https:\/\/www.sec.gov\/\\\">https:\/\/www.sec.gov<\/a><\/p>\n<p><strong>C\u01a1 quan Qu\u1ea3n l\u00fd Ch\u1ee9ng kho\u00e1n v\u00e0 Th\u1ecb tr\u01b0\u1eddng Ch\u00e2u \u00c2u (ESMA)<\/strong> &#8212; <em>&#8220;\u0110\u00e1nh gi\u00e1 MiFID II: M\u00f4 h\u00ecnh M\u00f4i gi\u1edbi Kh\u00f4ng Hoa h\u1ed3ng&#8221;<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.esma.europa.eu\/\\\">https:\/\/www.esma.europa.eu<\/a><\/p>\n<p><strong>Ng\u00e2n h\u00e0ng Thanh to\u00e1n Qu\u1ed1c t\u1ebf (BIS)<\/strong> &#8212; <em>&#8220;Giao d\u1ecbch B\u00e1n l\u1ebb v\u00e0 Ti\u1ebfn h\u00f3a C\u1ea5u tr\u00fac Th\u1ecb tr\u01b0\u1eddng&#8221;<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.bis.org\/\\\">https:\/\/www.bis.org<\/a><\/p>\n<p><strong>Vi\u1ec7n CFA<\/strong> &#8212; <em>&#8220;Chi ph\u00ed \u1ea8n c\u1ee7a Giao d\u1ecbch Kh\u00f4ng Hoa h\u1ed3ng&#8221;<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.cfainstitute.org\/\\\">https:\/\/www.cfainstitute.org<\/a><\/p>\n<h3><strong>B\u00e1o c\u00e1o Ng\u00e0nh v\u00e0 Ph\u00e2n t\u00edch<\/strong><\/h3>\n<p><strong>Bloomberg Intelligence<\/strong> &#8212; <em>&#8220;M\u00f4 h\u00ecnh Doanh thu M\u00f4i gi\u1edbi Kh\u00f4ng Hoa h\u1ed3ng&#8221;<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.bloomberg.com\/professional\\\">https:\/\/www.bloomberg.com\/professional<\/a><\/p>\n<p><strong>Nghi\u00ean c\u1ee9u C\u1ed5 phi\u1ebfu JP Morgan<\/strong> &#8212; <em>&#8220;AI trong Th\u1ef1c thi Giao d\u1ecbch B\u00e1n l\u1ebb&#8221;<\/em> (2024)\ud83d\udd17 <a href=\"https:\/\/www.jpmorgan.com\/\\\">https:\/\/www.jpmorgan.com<\/a><\/p>\n<p><strong>TradingView<\/strong> &#8212; <em>&#8220;So s\u00e1nh Spread To\u00e0n c\u1ea7u gi\u1eefa c\u00e1c Broker&#8221;<\/em> (2023)\ud83d\udd17 <a href=\"https:\/\/www.tradingview.com\/\\\">https:\/\/www.tradingview.com<\/a><\/p>\n<h3><strong>Nghi\u00ean c\u1ee9u T\u00ecnh hu\u1ed1ng v\u00e0 D\u1eef li\u1ec7u Broker<\/strong><\/h3>\n<p><strong>Robinhood Markets, Inc. (N\u1ed9p h\u1ed3 s\u01a1 SEC 10-K, 2023)<\/strong><strong><\/strong>\ud83d\udd17 <a href=\"https:\/\/investors.robinhood.com\/\\\">https:\/\/investors.robinhood.com<\/a><\/p>\n<p><strong>Interactive Brokers &#8212; B\u00e1o c\u00e1o \u0110\u1ecbnh tuy\u1ebfn L\u1ec7nh Quy t\u1eafc 606<\/strong> (Q1 2024)\ud83d\udd17 <a href=\"https:\/\/www.interactivebrokers.com\/\\\">https:\/\/www.interactivebrokers.com<\/a><\/p>\n<p><strong>\u1ee6y ban Ch\u1ee9ng kho\u00e1n Brazil (CVM) &#8212; Nghi\u00ean c\u1ee9u Giao d\u1ecbch B\u00e1n l\u1ebb<\/strong> (2023)\ud83d\udd17 <a href=\"https:\/\/www.gov.br\/cvm\\\">https:\/\/www.gov.br\/cvm<\/a><\/p>\n<h3><strong>\u0110\u1ecdc th\u00eam<\/strong><\/h3>\n<p><strong>Investopedia &#8212; &#8220;C\u00e1ch Broker Ki\u1ebfm ti\u1ec1n Kh\u00f4ng c\u00f3 Hoa h\u1ed3ng&#8221;<\/strong> (2024)\ud83d\udd17 <a href=\"https:\/\/www.investopedia.com\/\\\">https:\/\/www.investopedia.com<\/a><\/p>\n<p><strong>The Wall Street Journal &#8212; &#8220;Chi ph\u00ed Th\u1ef1c s\u1ef1 c\u1ee7a Giao d\u1ecbch Mi\u1ec5n ph\u00ed&#8221;<\/strong> (2023)\ud83d\udd17 <a href=\"https:\/\/www.wsj.com\/\\\">https:\/\/www.wsj.com<\/a><\/p>\n<p><strong>Financial Times &#8212; &#8220;Xu h\u01b0\u1edbng To\u00e0n c\u1ea7u trong \u0110\u1ea7u t\u01b0 B\u00e1n l\u1ebb&#8221;<\/strong> (2024)\ud83d\udd17 <a href=\"https:\/\/www.ft.com\/\\\">https:\/\/www.ft.com<\/a><\/p>\n"},"faq":[{"question":"Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng c\u00f3 th\u1ef1c s\u1ef1 mi\u1ec5n ph\u00ed kh\u00f4ng?","answer":"Kh\u00f4ng. M\u1eb7c d\u00f9 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi kh\u00f4ng thu ph\u00ed r\u00f5 r\u00e0ng, h\u1ecd ki\u1ebfm ti\u1ec1n th\u00f4ng qua: Thanh to\u00e1n cho D\u00f2ng l\u1ec7nh (PFOF): B\u00e1n c\u00e1c l\u1ec7nh c\u1ee7a b\u1ea1n cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng. Ch\u00eanh l\u1ec7ch r\u1ed9ng h\u01a1n: B\u1ea1n c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c gi\u00e1 h\u01a1i k\u00e9m h\u01a1n. \u0110\u0103ng k\u00fd cao c\u1ea5p: C\u00e1c c\u00f4ng c\u1ee5 n\u00e2ng cao th\u01b0\u1eddng t\u1ed1n th\u00eam chi ph\u00ed. V\u00ed d\u1ee5: Robinhood \u0111\u00e3 ki\u1ebfm \u0111\u01b0\u1ee3c 1,8 t\u1ef7 USD t\u1eeb PFOF v\u00e0o n\u0103m 2023."},{"question":"Ai \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i nhi\u1ec1u nh\u1ea5t t\u1eeb c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi kh\u00f4ng hoa h\u1ed3ng?","answer":"\u2714 Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng (mua v\u00e0 gi\u1eef ETF, giao d\u1ecbch kh\u00f4ng th\u01b0\u1eddng xuy\u00ean) \u2714 T\u00e0i kho\u1ea3n nh\u1ecf (<$25K) s\u1eed d\u1ee5ng c\u1ed5 phi\u1ebfu l\u1ebb \u2714 Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u h\u1ecdc v\u1edbi c\u00e1c v\u1ecb th\u1ebf nh\u1ecf Nghi\u00ean c\u1ee9u tr\u01b0\u1eddng h\u1ee3p: M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng ti\u1ebft ki\u1ec7m $60\/n\u0103m so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng."},{"question":"Nh\u1eefng chi ph\u00ed \u1ea9n l\u1edbn nh\u1ea5t l\u00e0 g\u00ec?","answer":"Ch\u00eanh l\u1ec7ch: 0,01%-0,5% m\u1ed7i giao d\u1ecbch.  Th\u1ef1c hi\u1ec7n ch\u1eadm: \u0110\u1eb7c bi\u1ec7t trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng.  Ph\u00ed FX: 1-3% cho c\u1ed5 phi\u1ebfu qu\u1ed1c t\u1ebf.  D\u1eef li\u1ec7u: C\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c m\u1ea5t h\u01a1n $1,000\/n\u0103m do \u0111i\u1ec1n l\u1ec7nh k\u00e9m."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 ki\u1ec3m tra xem nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a t\u00f4i c\u00f3 \u0111ang l\u00e0m t\u00f4i m\u1ea5t ti\u1ec1n kh\u00f4ng?","answer":"So s\u00e1nh c\u00e1c l\u1ec7nh kh\u1edbp v\u1edbi NBBO (Gi\u00e1 ch\u00e0o mua\/ch\u00e0o b\u00e1n t\u1ed1t nh\u1ea5t qu\u1ed1c gia).  Xem b\u00e1o c\u00e1o Quy t\u1eafc 606 c\u1ee7a SEC t\u1eeb nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a b\u1ea1n.  Theo d\u00f5i t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00eanh l\u1ec7ch gi\u00e1 qua h\u01a1n 20 giao d\u1ecbch.  M\u1eb9o chuy\u00ean nghi\u1ec7p: Th\u1eed c\u00e1c giao d\u1ecbch gi\u1ed1ng nhau tr\u00ean Webull v\u00e0 IBKR \u0111\u1ec3 so s\u00e1nh vi\u1ec7c th\u1ef1c hi\u1ec7n."},{"question":"Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng c\u00f3 k\u00e9o d\u00e0i kh\u00f4ng?","answer":"C\u00f3 kh\u1ea3 n\u0103ng, nh\u01b0ng v\u1edbi nh\u1eefng thay \u0111\u1ed5i:C\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf PFOF (nh\u01b0 \u1edf EU).C\u00e1c kho\u1ea3n ph\u00ed m\u1edbi c\u00f3 th\u1ec3 xu\u1ea5t hi\u1ec7n (v\u00ed d\u1ee5: \u0111\u0103ng k\u00fd).C\u00f4ng ngh\u1ec7 t\u1ed1t h\u01a1n (AI, blockchain) c\u00f3 th\u1ec3 gi\u1ea3m chi ph\u00ed.D\u1ef1 \u0111o\u00e1n: Nhi\u1ec1u m\u00f4 h\u00ecnh \"freemium\" h\u01a1n (giao d\u1ecbch c\u01a1 b\u1ea3n mi\u1ec5n ph\u00ed + n\u00e2ng c\u1ea5p tr\u1ea3 ph\u00ed)."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng c\u00f3 th\u1ef1c s\u1ef1 mi\u1ec5n ph\u00ed kh\u00f4ng?","answer":"Kh\u00f4ng. M\u1eb7c d\u00f9 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi kh\u00f4ng thu ph\u00ed r\u00f5 r\u00e0ng, h\u1ecd ki\u1ebfm ti\u1ec1n th\u00f4ng qua: Thanh to\u00e1n cho D\u00f2ng l\u1ec7nh (PFOF): B\u00e1n c\u00e1c l\u1ec7nh c\u1ee7a b\u1ea1n cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng. Ch\u00eanh l\u1ec7ch r\u1ed9ng h\u01a1n: B\u1ea1n c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c gi\u00e1 h\u01a1i k\u00e9m h\u01a1n. \u0110\u0103ng k\u00fd cao c\u1ea5p: C\u00e1c c\u00f4ng c\u1ee5 n\u00e2ng cao th\u01b0\u1eddng t\u1ed1n th\u00eam chi ph\u00ed. V\u00ed d\u1ee5: Robinhood \u0111\u00e3 ki\u1ebfm \u0111\u01b0\u1ee3c 1,8 t\u1ef7 USD t\u1eeb PFOF v\u00e0o n\u0103m 2023."},{"question":"Ai \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i nhi\u1ec1u nh\u1ea5t t\u1eeb c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi kh\u00f4ng hoa h\u1ed3ng?","answer":"\u2714 Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng (mua v\u00e0 gi\u1eef ETF, giao d\u1ecbch kh\u00f4ng th\u01b0\u1eddng xuy\u00ean) \u2714 T\u00e0i kho\u1ea3n nh\u1ecf (<$25K) s\u1eed d\u1ee5ng c\u1ed5 phi\u1ebfu l\u1ebb \u2714 Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u h\u1ecdc v\u1edbi c\u00e1c v\u1ecb th\u1ebf nh\u1ecf Nghi\u00ean c\u1ee9u tr\u01b0\u1eddng h\u1ee3p: M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng ti\u1ebft ki\u1ec7m $60\/n\u0103m so v\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi truy\u1ec1n th\u1ed1ng."},{"question":"Nh\u1eefng chi ph\u00ed \u1ea9n l\u1edbn nh\u1ea5t l\u00e0 g\u00ec?","answer":"Ch\u00eanh l\u1ec7ch: 0,01%-0,5% m\u1ed7i giao d\u1ecbch.  Th\u1ef1c hi\u1ec7n ch\u1eadm: \u0110\u1eb7c bi\u1ec7t trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng.  Ph\u00ed FX: 1-3% cho c\u1ed5 phi\u1ebfu qu\u1ed1c t\u1ebf.  D\u1eef li\u1ec7u: C\u00e1c nh\u00e0 giao d\u1ecbch t\u00edch c\u1ef1c m\u1ea5t h\u01a1n $1,000\/n\u0103m do \u0111i\u1ec1n l\u1ec7nh k\u00e9m."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 ki\u1ec3m tra xem nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a t\u00f4i c\u00f3 \u0111ang l\u00e0m t\u00f4i m\u1ea5t ti\u1ec1n kh\u00f4ng?","answer":"So s\u00e1nh c\u00e1c l\u1ec7nh kh\u1edbp v\u1edbi NBBO (Gi\u00e1 ch\u00e0o mua\/ch\u00e0o b\u00e1n t\u1ed1t nh\u1ea5t qu\u1ed1c gia).  Xem b\u00e1o c\u00e1o Quy t\u1eafc 606 c\u1ee7a SEC t\u1eeb nh\u00e0 m\u00f4i gi\u1edbi c\u1ee7a b\u1ea1n.  Theo d\u00f5i t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00eanh l\u1ec7ch gi\u00e1 qua h\u01a1n 20 giao d\u1ecbch.  M\u1eb9o chuy\u00ean nghi\u1ec7p: Th\u1eed c\u00e1c giao d\u1ecbch gi\u1ed1ng nhau tr\u00ean Webull v\u00e0 IBKR \u0111\u1ec3 so s\u00e1nh vi\u1ec7c th\u1ef1c hi\u1ec7n."},{"question":"Giao d\u1ecbch kh\u00f4ng hoa h\u1ed3ng c\u00f3 k\u00e9o d\u00e0i kh\u00f4ng?","answer":"C\u00f3 kh\u1ea3 n\u0103ng, nh\u01b0ng v\u1edbi nh\u1eefng thay \u0111\u1ed5i:C\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf PFOF (nh\u01b0 \u1edf EU).C\u00e1c kho\u1ea3n ph\u00ed m\u1edbi c\u00f3 th\u1ec3 xu\u1ea5t hi\u1ec7n (v\u00ed d\u1ee5: \u0111\u0103ng k\u00fd).C\u00f4ng ngh\u1ec7 t\u1ed1t h\u01a1n (AI, blockchain) c\u00f3 th\u1ec3 gi\u1ea3m chi ph\u00ed.D\u1ef1 \u0111o\u00e1n: Nhi\u1ec1u m\u00f4 h\u00ecnh \"freemium\" h\u01a1n (giao d\u1ecbch c\u01a1 b\u1ea3n mi\u1ec5n ph\u00ed + n\u00e2ng c\u1ea5p tr\u1ea3 ph\u00ed)."}]}},"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\/ 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