{"id":1035332,"date":"2023-12-12T17:26:48","date_gmt":"2023-12-12T15:26:48","guid":{"rendered":"https:\/\/www.etoro.com\/trading\/cfd-leverage-and-margin\/"},"modified":"2025-12-09T09:59:03","modified_gmt":"2025-12-09T07:59:03","slug":"cfd-leverage-and-margin","status":"publish","type":"page","link":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/","title":{"rendered":"P\u00e1kov\u00fd efekt a mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD"},"content":{"rendered":"\n<p class=\"is-style-summary\">Pokud chcete p\u0159i obchodov\u00e1n\u00ed s CFD n\u00e1stroji vyu\u017e\u00edvat ciz\u00ed kapit\u00e1l, je d\u016fle\u017eit\u00e9 v\u011bd\u011bt, jak p\u00e1kov\u00fd efekt a mar\u017ee funguje, jak\u00e9 jsou sazby mar\u017e\u00ed a jak m\u016f\u017eete mar\u017ei vypo\u010d\u00edtat.<\/p>\n\n\n\n\n\n\n<hr class=\"wp-block-separator wp-block-separator-color-dark-grey wp-block-separator-spaces-medium wp-block-separator-weight-1\"\/>\n\n\n\n<p>P\u00e1kov\u00fd efekt a mar\u017ee jsou obecn\u00e9 obchodn\u00ed pojmy, se kter\u00fdmi se setk\u00e1te v r\u016fzn\u00fdch obchodn\u00edch a investi\u010dn\u00edch situac\u00edch. V tomto \u010dl\u00e1nku se zam\u011b\u0159\u00edme konkr\u00e9tn\u011b na p\u00e1kov\u00fd efekt a mar\u017ei p\u0159i obchodov\u00e1n\u00ed s CFD n\u00e1stroji.<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list wp-block-list-circle\">\n<li>P\u00e1kov\u00fd efekt ozna\u010duje <strong>mo\u017enost pou\u017e\u00edt ur\u010ditou \u010d\u00e1stku p\u016fj\u010den\u00fdch pen\u011bz <\/strong>k z\u00edsk\u00e1n\u00ed v\u011bt\u0161\u00ed hodnoty ur\u010dit\u00e9ho finan\u010dn\u00edho n\u00e1stroje.<\/li>\n\n\n\n<li>Mar\u017ee je \u010d\u00e1stka pen\u011bz pot\u0159ebn\u00e1 pro <a href=\"https:\/\/www.tradecz.cz\/tradeslovnik-otevrena-pozice\/\" target=\"_blank\" rel=\"noreferrer noopener\">otev\u0159en\u00ed pozice<\/a>.<\/li>\n\n\n\n<li>\u010c\u00edm vy\u0161\u0161\u00ed je p\u00e1kov\u00fd efekt pro dan\u00fd obchod, t\u00edm ni\u017e\u0161\u00ed je po\u017eadavek na mar\u017ei, ale t\u00edm vy\u0161\u0161\u00ed je riziko ztr\u00e1ty kapit\u00e1lu.<\/li>\n<\/ul>\n\n\n\n<p>Pokra\u010dujte ve \u010dten\u00ed a zjist\u011bte v\u00edce o tom, jak to funguje.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote wp-block-quote-scheme-green is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201eP\u00e1ka: vyu\u017eit\u00ed p\u016fj\u010den\u00fdch pen\u011bz (\u00fav\u011bru) ke zv\u00fd\u0161en\u00ed kapacity pro spekulace.\u201c<\/p>\n<cite><a href=\"https:\/\/www.merriam-webster.com\/dictionary\/leverage\" target=\"_blank\" rel=\"noopener noreferrer\">Merriam Webster Dictionary<\/a><\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Jak funguje mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD?<\/h2>\n\n\n\n<p>Mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD funguje jako <strong>z\u00e1l<\/strong><strong>oha, kterou mus\u00ed obchodn\u00edk slo\u017eit, aby mohl otev\u0159\u00edt obchodn\u00ed pozici<\/strong>. Tato \u010d\u00e1stka p\u0159edstavuje pouze zlomek celkov\u00e9 hodnoty obchodu pr\u00e1v\u011b d\u00edky vyu\u017eit\u00ed p\u00e1kov\u00e9ho efektu.<\/p>\n\n\n\n<p>L\u00e9pe si cel\u00fd princip mar\u017ee u CFD n\u00e1stroj\u016f m\u016f\u017eeme p\u0159edstavit na n\u00e1sleduj\u00edc\u00edm <strong>praktick\u00e9m p\u0159\u00edkladu<\/strong>:<\/p>\n\n\n\n<p>P\u0159edpokl\u00e1dejme, \u017ee chcete obchodovat s akciemi spole\u010dnosti <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/csco\">Cisco Systems<\/a>. Zkontrolujete tr\u017en\u00ed cenu a zjist\u00edte, \u017ee <strong>akcie t\u00e9to firmy m\u016f\u017eete koupit za 56,60 USD <\/strong>na jednu akcii.<\/p>\n\n\n\n<p>Pro \u00fa\u010dely tohoto p\u0159\u00edkladu \u0159ekn\u011bme, \u017ee p\u0159edpokl\u00e1d\u00e1te, \u017ee cena akci\u00ed spole\u010dnosti Cisco poroste \u2013 <strong>rozhodnete se proto koupit 100 akci\u00ed<\/strong> prost\u0159ednictv\u00edm CFD. Obchodujete za cenu 56,60 USD.<\/p>\n\n\n\n<p>Pokud byste tyto <a href=\"https:\/\/www.etoro.com\/cs-cz\/discover\/markets\/stocks\">akcie<\/a> kupovali prost\u0159ednictv\u00edm <strong>b\u011b\u017en\u00e9ho brokera, museli byste p\u0159i vypo\u0159\u00e1d\u00e1n\u00ed transakce zaplatit plnou hodnotu akcie<\/strong>. V p\u0159\u00edpad\u011b n\u00e1kupu nap\u0159\u00edklad 100 akci\u00ed by to bylo:<\/p>\n\n\n\n<p>100 akci\u00ed x 56,60 USD = 5 660 USD.<\/p>\n\n\n\n<p>P\u0159i obchodov\u00e1n\u00ed s CFD v\u0161ak <strong>sta\u010d\u00ed slo\u017eit pouze \u010d\u00e1st hodnoty akcie, kter\u00e1 se naz\u00fdv\u00e1 <\/strong><a href=\"https:\/\/help.etoro.com\/s\/article\/what-is-margin?language=cs\"><strong>mar\u017ee<\/strong><\/a>. Mar\u017ee tedy funguje podobn\u011b jako slo\u017een\u00ed z\u00e1lohy. Proto se tento typ obchodov\u00e1n\u00ed n\u011bkdy ozna\u010duje jako <strong>mar\u017eov\u00e9 CFD obchodov\u00e1n\u00ed<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-1_-Margin-rates-for-CFDs.png\" alt=\"\" class=\"wp-image-794444 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-1_-Margin-rates-for-CFDs.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-1_-Margin-rates-for-CFDs-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Jak\u00e9 jsou sazby mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD?<\/h2>\n\n\n\n<p><strong>Sazba mar\u017ee z\u00e1vis\u00ed na tom, s jak\u00fdm aktivem obchodujete.<\/strong> A ur\u010duje, jak velkou mar\u017ei pot\u0159ebujete pro ur\u010ditou hodnotu podkladov\u00e9ho obchodu.<\/p>\n\n\n\n<p>V p\u0159\u00edpad\u011b spole\u010dnosti Cisco m\u016f\u017eete obchodovat s mar\u017eovou sazbou 20 %, co\u017e znamen\u00e1, \u017ee va\u0161e mar\u017ee bude \u010dinit jednu p\u011btinu hodnoty <e-tip data-tooltip=\"Re\u00e1ln\u00e1 aktiva, jako akcie a komodity, kter\u00e1 lze fyzicky vlastnit, a od nich\u017e se odv\u00edj\u00ed cena deriv\u00e1t\u016f.\">podkladov\u00e9ho aktiva<\/e-tip>.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> V\u00fdb\u011br spr\u00e1vn\u00e9 <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/how-to-choose-what-asset-class-to-invest-in\/\">t\u0159\u00eddy aktiv<\/a> je stejn\u011b d\u016fle\u017eit\u00fd jako volba spr\u00e1vn\u00e9 formy obchodu.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Jak vypo\u010d\u00edtat mar\u017ei u CFD?<\/h2>\n\n\n\n<p>Po\u017eadovan\u00e1 CFD mar\u017ee se jednodu\u0161e vypo\u010d\u00edt\u00e1 jako <strong>sazba mar\u017ee vyn\u00e1soben\u00e1 podkladovou hodnotou obchodu<\/strong>.<\/p>\n\n\n\n<p>V na\u0161em p\u0159\u00edkladu je hodnota nakupovan\u00fdch akci\u00ed 5 660 USD.<\/p>\n\n\n\n<p><strong>P\u0159i n\u00e1kupu akci\u00ed ve form\u011b CFD obchodu s 20% mar\u017eovou sazbou<\/strong> pak po\u017eadovan\u00e1 mar\u017ee odpov\u00edd\u00e1 tomuto v\u00fdpo\u010dtu:<\/p>\n\n\n\n<p><strong>5 660 USD x 20 % = 1 132 USD<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.kurzy.cz\/akcie-svet\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ceny akci\u00ed<\/a> se neust\u00e1le m\u011bn\u00ed. Pokud se cena bude pohybovat dostate\u010dn\u011b ve v\u00e1\u0161 prosp\u011bch, budete sed\u011bt na pr\u016fb\u011b\u017en\u00e9m zisku. Pokud se v\u0161ak cena bude pohybovat ve v\u00e1\u0161 neprosp\u011bch, va\u0161e pozice bude ve ztr\u00e1t\u011b. To m\u016f\u017ee znamenat, \u017ee budete muset <strong>slo\u017eit dal\u0161\u00ed mar\u017ei, abyste svoji pozici udr\u017eeli otev\u0159enou<\/strong>.<\/p>\n\n\n\n<p>Ne\u017e se pust\u00edte do obchodov\u00e1n\u00ed, <strong>ujist\u011bte se, \u017ee rozum\u00edte souvisej\u00edc\u00edm rizik\u016fm.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Co je p\u00e1kov\u00fd efekt p\u0159i obchodov\u00e1n\u00ed s CFD?<\/h2>\n\n\n\n<p>Vzhledem k tomu, \u017ee mar\u017eov\u00e9 CFD obchodov\u00e1n\u00ed znamen\u00e1, \u017ee v\u00e1m sta\u010d\u00ed vlo\u017eit pouze \u010d\u00e1st hodnoty podkladov\u00e9ho aktiva, na kter\u00e9 otev\u00edr\u00e1te pozici, <strong>doch\u00e1z\u00ed k odpov\u00eddaj\u00edc\u00edmu zv\u011bt\u0161ov\u00e1n\u00ed va\u0161ich zisk\u016f\/ztr\u00e1t<\/strong> v pom\u011bru k v\u00fd\u0161i v\u00e1mi vlo\u017een\u00fdch pen\u011bz. Tento princip je zn\u00e1m\u00fd pod pojmem p\u00e1kov\u00fd efekt.<\/p>\n\n\n\n<p>Pokud tedy obchodujete se <strong>sazbou CFD mar\u017ee ve v\u00fd\u0161i 20 %, pak je va\u0161e CFD finan\u010dn\u00ed p\u00e1ka p\u011btin\u00e1sobn\u00e1<\/strong>. Poj\u010fme si proj\u00edt \u010d\u00edsla, abychom zjistili pro\u010d.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-2_-How-leverage-works-in-CFDs.png\" alt=\"\" class=\"wp-image-794465 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-2_-How-leverage-works-in-CFDs.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-2_-How-leverage-works-in-CFDs-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Jak funguje p\u00e1kov\u00fd efekt p\u0159i obchodov\u00e1n\u00ed s CFD?<\/h2>\n\n\n\n<p>P\u00e1kov\u00fd efekt p\u0159i obchodov\u00e1n\u00ed s CFD obchodn\u00edk\u016fm <strong>umo\u017e\u0148uje ovl\u00e1dat v\u011bt\u0161\u00ed obchodn\u00ed pozici, ne\u017e kolik pen\u011bz skute\u010dn\u011b sami investuj\u00ed<\/strong>.<\/p>\n\n\n\n<p>L\u00e9pe si princip p\u00e1kov\u00e9ho efektu vysv\u011btl\u00edme na n\u00e1sleduj\u00edc\u00edm p\u0159\u00edkladu:<\/p>\n\n\n\n<p>Jeden investor se rozhodne <strong>koupit akcie spole\u010dnosti <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/axp\"><strong>American Express<\/strong><\/a><strong> v hodnot\u011b 12 000 USD<\/strong> prost\u0159ednictv\u00edm sv\u00e9ho <e-tip data-tooltip=\"Osoba nebo subjekt, kter\u00fd funguje jako zprost\u0159edkovatel mezi obchodn\u00edky a finan\u010dn\u00edm trhem.\">brokera<\/e-tip> v r\u00e1mci obchodu bez p\u00e1kov\u00e9ho efektu. Jin\u00fd investor se rozhodne prov\u00e9st stejnou transakci, ale formou CFD obchodu za vyu\u017eit\u00ed p\u00e1kov\u00e9ho efektu.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-3_-Final-thoughts-3.png\" alt=\"\" class=\"wp-image-794486 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-3_-Final-thoughts-3.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/12\/Body-Image-3_-Final-thoughts-3-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p>Investor, kter\u00fd nevyu\u017e\u00edv\u00e1 p\u00e1kov\u00fd efekt, zaplat\u00ed <strong>plnou hodnotu akci\u00ed, tedy 12 000 USD<\/strong>.<\/p>\n\n\n\n<p>Obchodn\u00edk s CFD m\u00e1 na v\u00fdb\u011br z n\u011bkolika \u00farovn\u00ed p\u00e1kov\u00e9ho efektu. A zvol\u00ed si p\u00e1kov\u00fd efekt x5. To znamen\u00e1, \u017ee jeho <strong>mar\u017ee pro tento obchod je pouze jedna p\u011btina celkov\u00e9 expozice<\/strong>. Celkov\u00e1 expozice je 12 000 USD a jeho mar\u017ee tedy vych\u00e1z\u00ed na 2 400 USD (12 000 \u00f7 5 = 2 400 USD).<\/p>\n\n\n\n<p>Nyn\u00ed si p\u0159edstavte, \u017ee se hodnota nakoupen\u00fdch akci\u00ed <strong>zm\u011bn\u00ed o 900 USD<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th><strong>Typ investice<\/strong><\/th><th><strong>Investor (bez vyu\u017eit\u00ed p\u00e1kov\u00e9ho efektu)<\/strong><\/th><th><strong>CFD obchodn\u00edk (vyu\u017e\u00edv\u00e1 p\u00e1kov\u00fd efekt)<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Vlo\u017een\u00e9 pen\u00edze<\/strong><\/td><td>12 000 USD<\/td><td>2 400 USD<\/td><\/tr><tr><td><strong>Zm\u011bna hodnoty akcie<\/strong><\/td><td>900 USD<\/td><td>900 USD<\/td><\/tr><tr><td><strong>Zm\u011bna hodnoty v % vlo\u017een\u00e9ho kapit\u00e1lu obchodn\u00edka<\/strong><\/td><td>7,5 %<\/td><td>37,5 %<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<p>Procentu\u00e1ln\u00ed zm\u011bna je 5x v\u011bt\u0161\u00ed ne\u017e u investice bez p\u00e1kov\u00e9ho efektu. <strong>Upozor\u0148ujeme v\u0161ak, \u017ee to plat\u00ed nejen v p\u0159\u00edpad\u011b zisk\u016f, ale i ztr\u00e1t.<\/strong> Pr\u00e1v\u011b z tohoto d\u016fvodu je u p\u00e1kov\u00fdch obchod\u016f zv\u00fd\u0161en\u00e9 riziko \u2013 jeliko\u017e se vlivem p\u00e1kov\u00e9ho efektu zv\u011bt\u0161uj\u00ed jak va\u0161e potenci\u00e1ln\u00ed zisky, tak i va\u0161e p\u0159\u00edpadn\u00e9 <a href=\"https:\/\/finex.cz\/5-tipu-jak-lepe-zvladnout-sve-ztratove-investice-umite-spravne-ukoncit-sve-obchody-a-investice\/\" target=\"_blank\" rel=\"noreferrer noopener\">ztr\u00e1ty<\/a>.<\/p>\n\n\n\n<p>Pou\u017eijeme-li v\u00fd\u0161e uveden\u00e1 \u010d\u00edsla, pokud by hodnota American Express klesla o 900 USD, <strong>investor bez p\u00e1kov\u00e9ho efektu by p\u0159i\u0161el pouze o 7,5 % vlo\u017een\u00fdch pen\u011bz, zat\u00edmco obchodn\u00edk s CFD a p\u00e1kov\u00fdm efektem by p\u0159i\u0161el o 37,5 %<\/strong> sv\u00e9ho vkladu.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip<\/strong>: \u010c\u00edm vy\u0161\u0161\u00ed je <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/investing-terms-you-need-to-know\/\">volatilita<\/a> podkladov\u00e9ho aktiva, t\u00edm vy\u0161\u0161\u00ed riziko p\u00e1kov\u00e9 obchody p\u0159in\u00e1\u0161\u00ed.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Shrnut\u00ed<\/h2>\n\n\n\n<p>Mar\u017ee a p\u00e1kov\u00fd efekt jsou prvky CFD, kter\u00e9 <strong>pro obchodn\u00edky p\u0159edstavuj\u00ed v\u011bt\u0161\u00ed prostor p\u0159i otev\u00edr\u00e1n\u00ed hodnotn\u011bj\u0161\u00edch pozic, ale tak\u00e9 dodate\u010dn\u00e9 riziko. <\/strong>Za danou \u010d\u00e1stku pen\u011bz mohou z\u00edskat v\u011bt\u0161\u00ed hodnotu aktiva, ne\u017e by m\u011bli k dispozici p\u0159i investici bez p\u00e1kov\u00e9ho efektu \u2013 to v\u0161ak plat\u00ed ob\u011bma sm\u011bry. P\u00e1ka tedy p\u0159edstavuje potenci\u00e1l pro v\u011bt\u0161\u00ed zisky, ale i ztr\u00e1ty.<\/p>\n\n\n\n<p>Nav\u0161tivte <a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/\">Akademii eToro<\/a> a zjist\u011bte v\u00edce o p\u00e1kov\u00e9m efektu, mar\u017ei i obchodov\u00e1n\u00ed s CFD.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Test<\/h2>\n\n\n\n<div class=\"wp-block-etoro-quizzes\">\n<div class=\"wp-block-etoro-quiz\" data-answer=\"2\"><div class=\"wp-block-etoro-quiz-body\"><div class=\"wp-block-etoro-quiz-question\">CFD obchodn\u00edk nakoup\u00ed akcie Tesly za 3 000 USD. Jeho mar\u017ee je 600 USD. Jak\u00fd je p\u00e1kov\u00fd efekt jeho obchodu?<\/div>\n<div class=\"wp-block-etoro-quiz-item\">P\u00e1ka x2<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">P\u00e1ka x4<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">P\u00e1ka x5<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">P\u00e1ka x10<\/div>\n<\/div><div class=\"wp-block-etoro-quiz-result\">\u00a0<\/div><\/div>\n<\/div>\n\n\n\n\n\n<h2 class=\"wp-block-heading\">\u010cast\u00e9 dotazy<\/h2>\n\n\n\n<dl class=\"wp-block-etoro-faq\">\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Mohu si zvolit, jak velkou p\u00e1ku bude m\u00edt moje pozice?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Ano, p\u00e1kov\u00fd efekt si m\u016f\u017eete zvolit z \u0159ady dostupn\u00fdch mo\u017enost\u00ed. \u0158i\u010fte se sv\u00fdm rizikov\u00fdm profilem a <a href=\"https:\/\/help.etoro.com\/s\/article\/What-is-the-maximum-leverage-per-instrument?language=cs\">limity p\u00e1kov\u00e9ho efektu<\/a> pro otev\u00edr\u00e1n\u00ed pozic. Ty se li\u0161\u00ed v z\u00e1vislosti na volatilit\u011b podkladov\u00e9ho aktiva.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jsou sazby mar\u017ee stejn\u00e9 pro v\u0161echny cenn\u00e9 pap\u00edry?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Ne, sazby <a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/leverage-margin\/\">mar\u017e\u00ed<\/a> se li\u0161\u00ed podle typu n\u00e1stroje, kter\u00fd se rozhodnete obchodovat.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak\u00fd je rozd\u00edl mezi p\u00e1kov\u00fdm efektem a finan\u010dn\u00ed p\u00e1kou?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>P\u00e1kov\u00fd efekt a finan\u010dn\u00ed p\u00e1ka jsou zam\u011bniteln\u00e9 pojmy, pokud jde o obchodov\u00e1n\u00ed s <a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd\/\">CFD<\/a>. Znamenaj\u00ed tedy tot\u00e9\u017e \u2013 obchodov\u00e1n\u00ed CFD s p\u00e1kov\u00fdm efektem neboli finan\u010dn\u00ed p\u00e1kou n\u00e1sob\u00ed va\u0161e potenci\u00e1ln\u00ed v\u00fdnosy, ale stejn\u011b tak n\u00e1sob\u00ed i potenci\u00e1ln\u00ed ztr\u00e1ty.<\/p>\n<\/dd><\/div>\n<\/dl>\n\n\n\n\t\t<style>\n\t\t\t.rtl .etoro-block-shortcode-disclaimer {\n\t\t\t\ttext-align:right;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\tmargin-bottom:18px;\n\t\t\t\ttext-align:left;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer p{\n\t\t\t\tfont-size: 12px;\n\t\t\t\tline-height: 18px;\n\t\t\t}\n\t\t\t@media (min-width: 768px) {\n\t\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\t\tmax-width:1176px;\n\t\t\t\t\ttext-align:center;\n\t\t\t\t}\n\t\t\t\t.etoro-block-shortcode-disclaimer p {\n\t\t\t\t\tfont-size: 14px;\n\t\t\t\t\tline-height: 20px;\n\t\t\t\t}\n\t\t\t}\n\t\t<\/style>\n\t\t<div class='etoro-block-shortcode-disclaimer'><p>Tyto informace slou\u017e\u00ed pouze pro vzd\u011bl\u00e1vac\u00ed \u00fa\u010dely a nelze je pova\u017eovat za investi\u010dn\u00ed poradenstv\u00ed, osobn\u00ed doporu\u010den\u00ed, nab\u00eddku nebo v\u00fdzvu k n\u00e1kupu \u010di prodeji jak\u00fdchkoli finan\u010dn\u00edch n\u00e1stroj\u016f.<\/p>\n<p>Tento materi\u00e1l byl p\u0159ipraven bez ohledu na konkr\u00e9tn\u00ed investi\u010dn\u00ed c\u00edle nebo finan\u010dn\u00ed situaci a nebyl p\u0159ipraven v souladu s pr\u00e1vn\u00edmi a regula\u010dn\u00edmi po\u017eadavky na podporu nez\u00e1visl\u00e9ho v\u00fdzkumu.<\/p>\n<p><strong>Ne v\u0161echny zmi\u0148ovan\u00e9 finan\u010dn\u00ed n\u00e1stroje a slu\u017eby jsou nab\u00edzeny na eToro<\/strong> a jak\u00e9koli odkazy na minulou v\u00fdkonnost finan\u010dn\u00edho n\u00e1stroje, indexu nebo investi\u010dn\u00edho produktu nejsou a nem\u011bly by b\u00fdt pova\u017eov\u00e1ny za spolehliv\u00fd ukazatel budouc\u00edch v\u00fdsledk\u016f. <strong>Dostupnost v\u0161ech v\u00fd\u0161e uveden\u00fdch produkt\u016f a slu\u017eeb se m\u016f\u017ee li\u0161it v z\u00e1vislosti na jurisdikci a zemi.<\/strong><\/p>\n<p>eToro nezaru\u010duje p\u0159esnost ani \u00faplnost obsahu tohoto pr\u016fvodce a nep\u0159eb\u00edr\u00e1 v tomto ohledu \u017e\u00e1dnou odpov\u011bdnost. P\u0159ed vlo\u017een\u00edm kapit\u00e1lu se ujist\u011bte, \u017ee rozum\u00edte rizik\u016fm spojen\u00fdm s obchodov\u00e1n\u00edm. Nikdy neriskujte v\u00edce, ne\u017e jste p\u0159ipraveni ztratit.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pokud chcete p\u0159i obchodov\u00e1n\u00ed s CFD n\u00e1stroji vyu\u017e\u00edvat ciz\u00ed kapit\u00e1l, je d\u016fle\u017eit\u00e9 v\u011bd\u011bt, jak p\u00e1kov\u00fd efekt a mar\u017ee funguje, jak\u00e9 jsou sazby mar\u017e\u00ed a jak m\u016f\u017eete mar\u017ei vypo\u010d\u00edtat. P\u00e1kov\u00fd efekt a mar\u017ee jsou obecn\u00e9 obchodn\u00ed pojmy, se kter\u00fdmi se setk\u00e1te v r\u016fzn\u00fdch obchodn\u00edch a investi\u010dn\u00edch situac\u00edch. V tomto \u010dl\u00e1nku se zam\u011b\u0159\u00edme konkr\u00e9tn\u011b na p\u00e1kov\u00fd efekt&hellip;<\/p>\n","protected":false},"author":98,"featured_media":1184298,"parent":20057,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":true,"inline_featured_image":false,"sticky_cta_settings":"","footnotes":""},"asset_type":[6601],"class_list":["post-1035332","page","type-page","status-publish","has-post-thumbnail","hentry","asset_type-is-cfd"],"acf":[],"yoast_head":"<title>Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD<\/title>\n<meta name=\"description\" content=\"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD\" \/>\n<meta property=\"og:description\" content=\"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332\" \/>\n<meta property=\"og:site_name\" content=\"eToro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eToro\/\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-09T07:59:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@eToro\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/\",\"url\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/\",\"name\":\"Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD\",\"isPartOf\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png\",\"datePublished\":\"2023-12-12T15:26:48+00:00\",\"dateModified\":\"2025-12-09T07:59:03+00:00\",\"description\":\"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#breadcrumb\"},\"inLanguage\":\"cs\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"cs\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage\",\"url\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png\",\"contentUrl\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Dom\u016f\",\"item\":\"https:\/\/www.etoro.com\/cs-cz\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OBCHODOV\u00c1N\u00cd\",\"item\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"P\u00e1kov\u00fd efekt a mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#website\",\"url\":\"https:\/\/www.etoro.com\/cs-cz\/\",\"name\":\"eToro\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.etoro.com\/cs-cz\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"cs\"},[]]}<\/script>","yoast_head_json":{"title":"Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD","description":"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332","og_locale":"cs_CZ","og_type":"article","og_title":"Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD","og_description":"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.","og_url":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332","og_site_name":"eToro","article_publisher":"https:\/\/www.facebook.com\/eToro\/","article_modified_time":"2025-12-09T07:59:03+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_site":"@eToro","twitter_misc":{"Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/","url":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/","name":"Porozum\u011bjte p\u00e1kov\u00e9mu efektu a mar\u017ei u CFD","isPartOf":{"@id":"https:\/\/www.etoro.com\/cs-cz\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage"},"image":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage"},"thumbnailUrl":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png","datePublished":"2023-12-12T15:26:48+00:00","dateModified":"2025-12-09T07:59:03+00:00","description":"P\u00e1kov\u00fd efekt a mar\u017ee hraj\u00ed kl\u00ed\u010dovou roli v \u00fasp\u011b\u0161n\u00fdch obchodn\u00edch rozhodnut\u00edch. V tomto \u010dl\u00e1nku v\u00e1m uk\u00e1\u017eeme, jak je m\u016f\u017eete vyu\u017e\u00edt p\u0159i obchodov\u00e1n\u00ed s CFD.","breadcrumb":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#breadcrumb"},"inLanguage":"cs","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/"]}]},{"@type":"ImageObject","inLanguage":"cs","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#primaryimage","url":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png","contentUrl":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/12\/CZ-Leverage-and-Margin-for-CFD-Trading-1200x630-1.png","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd-leverage-and-margin\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Dom\u016f","item":"https:\/\/www.etoro.com\/cs-cz\/"},{"@type":"ListItem","position":2,"name":"OBCHODOV\u00c1N\u00cd","item":"https:\/\/www.etoro.com\/cs-cz\/trading\/"},{"@type":"ListItem","position":3,"name":"P\u00e1kov\u00fd efekt a mar\u017ee p\u0159i obchodov\u00e1n\u00ed s CFD"}]},{"@type":"WebSite","@id":"https:\/\/www.etoro.com\/cs-cz\/#website","url":"https:\/\/www.etoro.com\/cs-cz\/","name":"eToro","description":"","publisher":{"@id":"https:\/\/www.etoro.com\/cs-cz\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.etoro.com\/cs-cz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"cs"},[]]}},"_links":{"self":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332"}],"collection":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/users\/98"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/comments?post=1035332"}],"version-history":[{"count":0,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/1035332\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/20057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/media\/1184298"}],"wp:attachment":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/media?parent=1035332"}],"wp:term":[{"taxonomy":"asset_type","embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/asset_type?post=1035332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}