USD/CHF is one of the forex pairs perfect for both seasoned traders and those who are taking their first steps as investors. At the time of writing, participants in the global market gravitate towards the CHF at times of economic distress, which in turn means that it has the status of a safe-haven currency. The same can be said about the US dollar.
Starting to trade the USD/CHF is not a difficult task thanks to the world wide web, provided you have hit the books and are in possession of sufficient capital. A secure trading environment is a must, which is why your broker of choice will have a significant effect on your performance.
How USD/CHF Trading Works for Traders and Brokers
The USD/CHF is traded at an incredibly high volume and is one of the major currency pairs. This has the significant benefit of keeping the spreads of the USD/CHF tight, making it suitable for beginner investors.
Since entering the forex market is practically effortless between the now internet-based trading and the fact that account creation at brokers is fast, it is easy for a novice to become a bit too excited and rush to make their first trade. Demo accounts are available on most trading websites nowadays, however, and most traders opt for such an account at the start of their career. These account types allow users to become familiar with the core aspects of trading in a risk-free environment. An example of such characteristics of the FX market are the fees. The vast majority of brokers use the spread, i.e. the difference between the buy and the sell prices of a pair, as their primary fee. A commission might also be attached in exchange for even tighter spreads, however, so it is always important to look up such information.
Once traders move on to real investing, functions that will protect their funds become crucial. Stop-loss orders, for instance, allow them to set a trade to be bought or sold once it has reached a certain size. Additionally, negative balance protection is also something valued by many traders and is, therefore, quite sought after.
Top USD/CHF Trading Brokers
The number of traders who turn to the forex market has been increasing steadily, seeing as online foreign exchange trading has gained a foothold in the past few decades. A vast number of retail investors now participate in forex trading, and each trader has their own preferences and strategies. The search for one’s broker of choice, therefore, needs to be as thorough as possible to ensure the best trading experience. This is easier said than done, and below, you will find our list of top ten USD/CHF brokers, which is a good starting point towards finding the broker that fits you best.
- Min Deposit$0Fees
- Fusion+: $10 monthly fee if you do not trade at least 2.5 lots of FX/Metals per month
- No deposit fees
- USD: Trade 1 Standard Lot (Volume 1.0 on MT4) of Forex, you will pay USD $4.50 round turn
- CHF: Trade 1 Standard Lot (Volume 1.0 on MT4) of Forex & Precious Metals, you will pay CHF CHF4.45 round turn
Leverage EU30:1Leverage non-EU30:1Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.
- Average: 0.04
- Minimum: 0.00
Fusion was founded in 2017, and two years later, it launched its trading clients. Although this broker is fairly young, it has nonetheless proven to be an excellent provider of trading services to investors on a global scale. Moreover, it is regulated by the ASIC, one of the most reliable regulatory bodies in the forex market.
Within Fusion Markets’ catalogue of tools, you will also find a Multi Account Manager made to cater to professional traders. This tool is useful for professionals who have clients and manage multiple accounts. There is no limit to the number of accounts that can be traded, and all lot sizes are available. Pros can also use Fusion+, a copy trading service that allows for your traits to be copied by others, and it is free of charge, provided you trade no less than 1.5 lots of forex or metals per month.
At Fusion Markets, there are two account types, Classic and Zero. Classic is reserved for traders new to the platform, as it does not charge a commission, but it is instead included in the spread. The minimum spread with such an account is 0.8.
Investors who wish to broaden their trading horizons can do so at Fusion Markets, seeing as the broker’s library includes forex, precious metals, Equity Indices and more.
- 2. IronFXMin DepositN/AFees
- Depositing is free
- 3% “no trading” fee is imposed when you have deposited and requested a withdrawal without having ever traded
- Standard, Premium, or VIP account - no
- Live Zero Fixed account - yes
Leverage EU30:1Leverage non-EUUp to 1000:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Minimum: 1.3
- Average: 1.4
IronFX is based in Cyprus. It caters to both European investors as well as traders from around the globe, and if you find yourself needing assistance, IronFX has your back. Both the website and customer support are available in multiple languages. When the occasion calls for it, the first thing you can try is looking up your problem on IronFX’s FAQ webpage. It covers a broad range of potential issues or inquiries, and there is a search bar that allows you to input the exact keywords or questions you have. If the FAQ fails to be of help, contacting customer support is an option. IronFX’s customer service is available round the clock, five days a week. The methods on offer are live chat, which you can find in the bottom right corner of the website. Email is available too, as is telephone customer support.
Investors who value their privacy and who would also like to be extra secure are in for a treat, as IronFX provides its own Virtual Private Server Hosting service, which is free of charge. It also allows for speedier trading. The specifications of a VPS at IronFX include a dedicated IP, 30GB of HDD Storage Space, and custom configurations, among others. The service is available 24 hours a day.
The website boasts leverage up to 1000:1, although ambitious traders should keep in mind that this is only valid for those not living within the EU. EEA traders have a 30:1 leverage limit. In addition, the spread of the USD/CHF pair is 1.4 pips on average, with 1.3 pips being the minimum.
- 3. XM GroupMin Deposit$5Fees
Commissions$3.5 per $100,000 traded if the user has an XM Zero accountSpread
- $5 a month after 90 days of an account being dormant
- Clients will not be charged if the account has no balance
- XM will not cover fees of international wire transfer deposits if deposited money is less than $200
- All other instances of deposits and withdrawals are free
Leverage EU30:1Leverage non-EU30:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.
- Standard and Micro: 1.9 pips min. 2.1 pips average.
- Zero: 0.4 pips
XM Group is a broker that offers a variety of products, including, but not limited to, forex, stocks, CFDs and commodities. In terms of reputability, the CM group is regulated by several well-known and trusted regulatory bodies. This includes the Australian Securities and Investments Commission, the Cyprus Securities and Exchange Commission, the Dubai Financial Services Authority and the Financial Supervision Commission.
The spread will vary for USD/CHF traders, but in general, it ranges from 1.9 to 2.1 on average, provided your account type is Standard or Macro. If you have a regular account, the spread is the only trading fee you will need to pay. Things are different for users with a Zero account. Such investors have a commission the size of $3.5 per $100,000 traded, but the spreads are better. For the USD/CHF, this means that the spread can go as low as 0.4. As for the leverage, it is capped at 30:1 when it comes to this specific instrument.
Customer support can be reached through email, live chat or telephone. Moreover, customer service is available in numerous languages, including English, German, Chinese, Korean, Polish, Arabic, Portuguese and Thai, among others.
- 4. AdmiralsMin Deposit$50Fees
- $10 monthly inactivity fee after 24 months of inactivity
- Depositing via Skrill: 0,9%, min. $1
- One free withdrawal request per month for all banking solutions
CommissionsZero.MT5 or Zero.MT4 - 3.0 per lotSpread1.2 pips typical spreadLeverage EU30:1Leverage non-EU
- Bank transfer: €1
- Visa and Mastercard: 1%, min. €1
- Skrill: 1%, min. €1 / $1
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Retail: 30:1
- Pro: 500:1
Founded in 2001, Admirals, previously known as Admiral Markets, is a broker that is based in Estonia. As such, it is listed on the Nasdaq Nordic stock exchange, and it is regulated by the FCA, EFSA, CySEC, ASIC, and the JSC because it operates globally.
The spread of USD/CHF trades is generally 1.2 pips. The leverage limit is 30:1 for retail traders and all investors in the EU. Pro users outside of the EEA get a threshold of 500:1.
There are currently several options you can choose from in terms of platforms – MetaTrader 4, MetaTrader 5, and the MetaTrader WebTrader. You could also download the MetaTrader Supreme Edition plugin for both versions or the StereoTrader trading panel. Additionally, mobile trading can be achieved through the MT4 or MT5 apps or the broker’s own Admirals smartphone app. Thanks to two-factor authentication, the mobile apps are very secure. The broker also provides a free VPS service.
Deposits are free for the most part, excluding deposits via Skrill which have a 0.9% fee. You will get one free withdrawal request per month on your chosen banking solution. Withdrawals will have fees attached afterwards, and you will be charged €1 at a minimum regardless of which withdrawal method you go for.
- 5. City IndexMin DepositPayPal: £10FeesDeposits and withdrawals are free.CommissionsN/ASpread2 pipsLeverage EU30:1Leverage non-EU30:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index’s parent company is StoneX Group Inc. which is listed on the Nasdaq stock exchange.City Index offers a vast number of currencies, of which all majors are, naturally, included. Here, USD/CHF traders have a spread of 2 pips on average. When it comes to leverage, 30:1 is the maximum.
Although it is in everyone’s best interest for online trading to go as smoothly as possible, and mistakes will reduce with time as you gain experience, hiccups can still happen to even the most seasoned of investors. Thankfully, you could look for information on how to deal with an issue within City Index’s extensive FAQ section. You will find that in many cases, you will be able to find the information you need this way. If the problem is related to information you have trouble finding, a technical issue, and the like, you can contact City Index’s customer support team. It is available 24/5. There are several options to pick from, which include phone, email, and of course, live chat.
The same options are available for those who utilise the broker’s smartphone solutions. Both the proprietary application, as well as MetaTrader 4, are packed with features available on the web and desktop clients of City Index.
- 6. OandaMin Deposit$0Fees
CommissionsIf you use OANDA’s core pricing + commission trading option: $5 USD per 100,000SpreadAround 1 pipLeverage EU25:1Leverage non-EU25:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.3% of retail investor accounts lose money when trading CFDs with OANDA Europe Markets Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Inactivity fee - $10 after 12 months of inactivity
- No withdrawal or deposit fees
Oanda is a broker that focuses primarily on forex and CFD trading. I was founded in 1996, and it has been the go-to broker for many investors in the past thirty years.
Oanda’s search tools are a favourite of the broker’s clients. Charting is powered by TradingView, and there are 11 chart types, numerous technical indicators, chart intervals, and drawing tools. Oanda’s technical analysis tool is powerful and provides investors with continuous intraday market scanning, alerts and notifications regarding trading opportunities, and the ability to only focus on historically successful forecasts. In addition, volatility analysis is also available, as are performance statistics and market reports that can be sent to you on a daily basis.
The USD/CHF has a spread of 1 pip on average, and the leverage is 25:1. You will not need to pay anything for depositing into your account or withdrawing your funds. In fact, the only notable non-trading fee one must be aware of is the inactivity fee that will be charged on a monthly basis after a year of inactivity.
Although the user experience at Oanda tends to be excellent, in the event a problem arises, you can get in touch with a customer service representative around the clock via email, live chat, or telephone.
- 7. Capital.comMin Deposit$20Fees
CommissionsN/ASpreadBetween 1 and 2 pipsLeverage EU30:1Leverage non-EU30:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.45% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Deposits and withdrawals are free
- No inactivity fee
Capital.com gives its clients two platforms to choose from – MetaTrader 4 and the broker’s proprietary platform. The one exclusive to this broker is available in multiple languages, such as German, Italian, Russian, Vietnamese, Polish and English, among others. There are over 70 technical indicators, various chart layouts, and the customisation is impressive. Additionally, multiple orders the likes of stop-loss and take-profit are available, and the broker also provides negative balance protection.
Traders who lead busy lives will be happy to learn that capital.com also has a mobile version. It is easy to use, and you can download it on your device regardless of whether you use an iPhone or an Android smartphone.
UDF/CHF traders will have an average of 1 and 2 pips to work with in terms of the spread. As for the leverage, capital.com complies with the rules within the EU, and thus, the leverage does not exceed 30:1.
Trading fees consist solely of the spread, which means that USD/CHF traders will not need to pay a commission. Deposits are free of charge, and also withdrawals will cost you nothing. In addition, you do not need to worry about an inactivity fee if you ever decide to take a prolonged break from trading.
- 8. CMC MarketsMin Deposit$0Fees
CommissionsN/ASpread1 pipLeverage EU30:1Leverage non-EU30:1Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
- $15 per month after one year of inactivity
- Deposits and withdrawals are free
CMC Markets is a broker that has been around for over three decades and is one of the earliest online brokers to offer forex trading. Although its roots are in the UK and it is still headquartered in London, CMC Markets is a global broker through and through and it is used worldwide.
Along with the familiar to many traders MetaTrader 4 software, CMC Markets has its own in-house developed Next Generation platform. It has many features, such as one-click trading, a variety of technical indicators, and a price projection tool, among others. Copy trading is also possible. Copying another investor’s trades and technical analysis is a breeze, and you can discuss your strategy with fellow traders within the forum.
CMC Markets’ educational tools are another excellent aspect of this broker, and you have numerous resources at your disposal that will guide you through learning everything that has to do with taking part in the foreign exchange market. Investors can also put what they have learnt to practise with a CMC Markets demo account, which allows you to train without the anxiety of diving headfirst into the actual market where money is at stake.
- 9. XTBMin Deposit$0Fees
CommissionsN/ASpread1.5 pips minLeverage EU30:1Leverage non-EU500:1Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.
- Depositing via bank transfer and credit card is free
- E-wallet deposits range from 1% to 2%
- $10 a month inactivity fee after one year of inactivity
Regulated by the FCA, XTB is a European broker that is listed on the Warsaw Stock Exchange. It is also under regulation by the KNF, CySEC, and FCS.
The platform available to XTB clients is xStation 5, XTB’s own in-house creation. Brokers who like to dabble in all kinds of trading will be happy to learn that, along with forex, ETF trading is also available. The instruments also include indices and CFDs, among others, making for a varied catalogue. Additionally, a news feed is present, both on the platform and under the Market Analysis category on the website. The same can be said about the Market Calendar. The orders investors have access to are market, stop, limit, stop-loss, take-profit, and trailing stop. Stop-loss is of particular significance as it can prevent you from losing too much money when a trade does not go well.
Speaking of keeping yourself safe from unnecessary losses, negative balance protection is offered at XTB. Customer support is available at all times, which means that seeking assistance is an easier task than brokers, where CS is limited to five days a week.
- 10. IGMin Deposit
- Card Payment: $300
- Bank Transfer: $0
- Visa/Mastercard debit: free
- Credit: 1% charge for Visa and 0.5% charge for MasterCard.
- HKD FPS and Transfer to IG’s HK based HSBC account: free
- Withdrawal: Free
- $18 a month inactivity fee after 24 months of inactivity
- $12 inactivity fee after 24 months of inactivity for US clients
Leverage EU30:1Leverage non-EU30:1Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Options and turbo warrants are complex financial instruments and your capital is at risk. Losses may be extremely rapid.
- Min: 1.5 pips
- Average: 2 pips
Although the number of forex brokers US investors can access has seen a steady increase in recent years, it is still somewhat uncommon for brokers to offer their services to US traders. IG is an exception, and it is available in the USA. This also means that it is regulated by both the FCA and the NFA, further cementing IG’s reputation as a reliable and credible broker.
For investors interested in USD/CHF trading, the spread minimum is 1.5 pips, and it tends to hover around 2 pips on average. The leverage limit is 30:1.
Aspiring USD/CHF traders looking to learn more about the practice will find that IG has some of the most thorough educational tools available. The IG Academy consists of online courses that cover virtually all aspects of trading. Those who prefer a more traditional educational environment can opt for IG’s webinars or in-person seminars. In other words, you can receive personal training from the experts at IG Group.
A trading psychology podcast series will introduce you to some of the often-made trading mistakes novices can fall victim to and teach you how to control yourself emotionally while you invest. On this topic, IG also has an entire section dedicated to risk management, which lays out the possible risks you could run into while trading, why they happen, and how to use IG’s stop-loss orders, alerts, and other tools to dodge or mitigate problems. Additionally, there is a convenient glossary, a trade analytics tool, and a section of the website dedicated to news and trade ideas.