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Trading USD/CHF

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Written By
James Barra
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Written By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Edited By
Jemma Grist
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Edited By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Fact Checked By
William Berg
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
» William Berg Profile Page
Updated
Jul 24, 2024

The USD/CHF currency pair, also known as ‘Swissy’, is popular in the forex space despite coming with certain challenges. This page will break down the history of the USD/CHF relationship, including its benefits and risks. We also look at how to start trading the USD/CHF in 2024, by capitalising on volume and volatility with charts, strategy, signals and trading hours.

USD/CHF Trading Brokers

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  2. 2
    NinjaTrader
    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4 / 5
    3 / 5
    3.2 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer, Cheque
    USD
    Go To NinjaTrader
  3. 3
    Interactive Brokers
    Ratings
    4.5 / 5
    3.5 / 5
    4.6 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
    Go To Interactive Brokers
  4. 4
    OANDA US
    CFDs are not available to residents in the United States.
    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
    Go To OANDA US
  5. 5
    IG
    Forex trading involves risk. Losses can exceed deposits.
    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.9 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
    Go To IG
  6. 6
    Videforex
    20% to 200% Deposit Bonus
    Ratings
    2.5 / 5
    3 / 5
    3.5 / 5
    3.3 / 5
    3.5 / 5
    4.5 / 5
    1.3 / 5
    1.3 / 5
    4.1 / 5
    4.4 / 5
    $250
    $0.01
    1:500
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    TradingView
    Skrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum Payments
    USD, EUR, GBP, AUD, RUB
    Go To Videforex
  7. 7
    Capitalcore
    40% Deposit Bonus up to $2,500
    Ratings
    3.3 / 5
    3.8 / 5
    3.5 / 5
    3 / 5
    3.8 / 5
    3.5 / 5
    2.5 / 5
    3.5 / 5
    0 / 5
    0 / 5
    $10
    0.01 Lots
    1:2000
    IFSA
    Forex, Metals, Stocks, Cryptos, Futures Indices
    WebTrader, Pro
    Ethereum Payments, Mastercard, Visa, Perfect Money, Bitcoin Payments, Debit Card, Credit Card, PayPal
    USD
    Go To Capitalcore
  8. 8
    InstaTrade
    Ratings
    2.5 / 5
    3 / 5
    3 / 5
    3 / 5
    3.5 / 5
    3.5 / 5
    3.5 / 5
    3.3 / 5
    4.8 / 5
    4.4 / 5
    $1
    0.01
    1:1000
    BVI FSC
    FISP, CFDs, Forex, Stocks, Indices, Commodities, Cryptos, Futures
    InstaTrade Gear, MT4
    Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, Bitcoin Payments, Ethereum Payments
    USD, EUR, RUB
    Go To InstaTrade
  9. 9
    Plexytrade
    120% Cash Welcome Bonus
    Ratings
    1.5 / 5
    2.5 / 5
    2.5 / 5
    3.3 / 5
    2.5 / 5
    3.5 / 5
    0.5 / 5
    0.5 / 5
    4.8 / 5
    4.7 / 5
    $50
    0.01
    1:2000
    CFDs, Forex, Indices, Stocks, Commodities, Crypto
    MT4, MT5
    Bitcoin Payments, Ethereum Payments
    USD, EUR
    Go To Plexytrade
  10. 10
    Plus500 US
    Welcome Deposit Bonus up to $200
    Trading with leverage involves risk.
    Ratings
    3.5 / 5
    3.7 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3.5 / 5
    2.8 / 5
    3.5 / 5
    4.1 / 5
    4.3 / 5
    $100
    0.0 Lots
    CFTC, NFA
    Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
    WebTrader, App
    ACH Transfer, Wire Transfer, Debit Card, Mastercard, Visa
    USD
    Go To Plus500 US

Here is a short summary of why we think each broker belongs in this top list:

  1. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
  2. NinjaTrader - NinjaTraders supports the trading of popular currencies including the EUR/USD. The software also offers advanced features to streamline the trading experience, including complex order types like market if touched (MIT) and one cancels other (OCO).
  3. Interactive Brokers - IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
  4. OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
  5. IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
  6. Videforex - Videforex offers trading on 35 currency pairs through leveraged CFDs with spreads from 0.1 pips. Alternatively, traders can use binaries to speculate on upward/downward price movements with payouts up to 98%. Integrated technical analysis, economic calendars, and market news, all available within the platform, help support FX trading decisions.
  7. Capitalcore - Capitalcore offers a modest selection of around 35 currency pairs, which is very limited compared to CMC Markets' 300+ pairs. Spreads are lowest on the VIP account (0.4 pips on EUR/USD), but become less competitive in Classic and Silver accounts (1.5 pips on EUR/USD), and there aren't any zero spreads.
  8. InstaTrade - InstaTrade offers a huge selection of around 100 currency pairs. It provides spreads starting at 0.0 on majors, plus integrated forex analysis in the web platform, featuring signals, plus technical and fundamental summaries. Additionally, InstaTrade offers educational modules covering forex basics for beginners, including margin trading and risk management.
  9. Plexytrade - Plexytrade presents major, minor, and exotic forex pairs for trading, with leverage reaching 1:2000 and raw spreads starting from 0.0 - an enticing proposition for advanced traders seeking gains from minor price shifts. However, the downside lies in the limited selection, with only 41 currency pairs available, significantly fewer than the 100+ forex assets at IG.
  10. Plus500 US - Plus500 US offers futures trading on a small selection of 13 currencies, including popular pairs like the EUR/USD and GBP/USD. Day trading margins are competitive, starting from $40, while the educational resources do an excellent job of breaking down the basics of forex futures for new traders.

Trading USD/CHF Comparison

Trading USD/CHF Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator
FOREX.com logo
80+ 1.2 4.9 / 5 $100 NFA, CFTC
NinjaTrader logo
50+ 1.3 3.5 / 5 $0 NFA, CFTC
Interactive Brokers logo
100+ 0.08-0.20 bps x trade value 4.3 / 5 $0 FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
OANDA US logo
65+ 1.6 4 / 5 $0 NFA, CFTC
IG logo
80+ 0.8 4.9 / 5 $0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Videforex logo
35+ 0.1 2.5 / 5 $250 -
Capitalcore logo
35+ 0.4 - $10 IFSA
InstaTrade logo
65 0.0 - $1 BVI FSC
Plexytrade logo
40+ 0.7 4.8 / 5 $50 -
Plus500 US logo
13 0.75 4.3 / 5 $100 CFTC, NFA

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
GBPUSD Spread1.3
EURUSD Spread1.2
EURGBP Spread1.4
Total Assets80+
Leverage1:50
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Visit FOREX.com
FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

GBPUSD Spread1.6
EURUSD Spread1.3
EURGBP Spread1.6
Total Assets50+
Leverage1:50
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Account CurrenciesUSD

Pros

  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
  • NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
  • Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract

Cons

  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods
  • The premium platform tools come with an extra charge
Visit NinjaTrader
NinjaTrader Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

GBPUSD Spread0.08-0.20 bps x trade value
EURUSD Spread0.08-0.20 bps x trade value
EURGBP Spread0.08-0.20 bps x trade value
Total Assets100+
Leverage1:50
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.

Cons

  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
Visit Interactive Brokers
Interactive Brokers Review

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Jemma Grist, Reviewer

OANDA US Quick Facts

GBPUSD Spread3.4
EURUSD Spread1.6
EURGBP Spread1.7
Total Assets65+
Leverage1:50
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
  • There's a strong selection of 68 currency pairs for dedicated short-term forex traders
  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave

Cons

  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only
  • There's only a small range of payment methods available, with no e-wallets supported
Visit OANDA US
OANDA US Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

GBPUSD Spread0.9
EURUSD Spread0.8
EURGBP Spread0.9
Total Assets80+
Leverage1:30 (Retail), 1:250 (Pro)
PlatformsWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.

Cons

  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
Visit IG
IG Review

Videforex

"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "

William Berg, Reviewer

Videforex Quick Facts

Bonus Offer20% to 200% Deposit Bonus
GBPUSD Spread0.1
EURUSD Spread0.1
EURGBP Spread0.1
Total Assets35+
Leverage1:500
PlatformsTradingView
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Pros

  • Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
  • Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
  • Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.

Cons

  • The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
  • Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
  • The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
Visit Videforex
Videforex Review

Capitalcore

"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."

Christian Harris, Reviewer

Capitalcore Quick Facts

Bonus Offer40% Deposit Bonus up to $2,500
GBPUSD Spread0.5
EURUSD Spread0.4
EURGBP Spread0.5
Total Assets35+
Leverage1:2000
PlatformsWebTrader, Pro
Account CurrenciesUSD

Pros

  • Capitalcore is one of the only brokers to charge zero swap fees, which may appeal to Islamic traders looking to comply with Islamic Finance.
  • The Capitalcore platform provides comprehensive charting tools and a wide range of 150+ technical indicators, ideal for detailed market analysis.
  • The support team are available 24/7 and responded within minutes during testing with helpful responses.

Cons

  • The web platform was inconsistent during testing, with occasional technical glitches that meant the trading platform wouldn’t load.
  • Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
  • Capitalcore is not regulated by major financial authorities and has an unproven reputation, raising concerns about the safety of client funds.
Visit Capitalcore
Capitalcore Review

InstaTrade

"Although InstaTrade offers active trading on a comprehensive platform, it stands out with its fairly unique Fixed Income Structured Product (FISP), providing passive investment opportunities with up to 50% returns in 6 months if conditions are met. "

Christian Harris, Reviewer

InstaTrade Quick Facts

GBPUSD Spread0.2
EURUSD Spread0.0
EURGBP Spread2.8
Total Assets65
Leverage1:1000
PlatformsInstaTrade Gear, MT4
Account CurrenciesUSD, EUR, RUB

Pros

  • VPS hosting caters to algo trading strategies with a dedicated physical server providing rapid execution speeds as low as 9 milliseconds.
  • InstaTrade TV, consisting of video interviews and valuable market insights spanning equities, cryptos and more, helps identify opportunities and inform short-term trades.
  • InstaTrade delivers an excellent suite of charting tools for day traders with its web trader comprising 250+ indicators, 11 chart types and a user-friendly design.

Cons

  • InstaTrade is registered in the offshore jurisdiction of the British Virgin Islands, resulting in limited regulatory safeguards for retail investors.
  • Profits are only guaranteed in the FISP if investors do not reach the 50% profit level and attract other users with a total sum of $4 for each dollar in compensation.
  • InstaTrade sports one of the most cluttered websites and client cabinets in the industry, potentially overwhelming new traders, especially compared to XTB’s intuitive trading journey and resources.
Visit InstaTrade
InstaTrade Review

Plexytrade

"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."

Christian Harris, Reviewer

Plexytrade Quick Facts

Bonus Offer120% Cash Welcome Bonus
GBPUSD Spread0.8
EURUSD Spread0.7
EURGBP Spread1.1
Total Assets40+
Leverage1:2000
PlatformsMT4, MT5
Account CurrenciesUSD, EUR

Pros

  • There are various VPS packages starting from $50 per month, but they become complimentary once specific deposit thresholds are reached.
  • Plexytrade offers among the highest leverage we’ve seen, up to 1:2000, catering to advanced traders willing to forego regulatory protections.
  • US residents are accepted as clients, distinguishing Plexytrade as one of the rare offshore brokers that cater to US-based traders.

Cons

  • There are no research and educational materials, falling short of alternatives like IG, while access to the economic calendar is restricted to clients with balances of $500.
  • There are no social or copy trading features for inexperienced traders to replicate the trades of more experienced investors, trailing category leaders like eToro.
  • Deposits and withdrawals are exclusively facilitated through cryptocurrencies, as Plexytrade does not support bank cards, bank wire transfers, or e-wallets.
Visit Plexytrade
Plexytrade Review

Plus500 US

"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."

Michael MacKenzie, Reviewer

Plus500 US Quick Facts

Bonus OfferWelcome Deposit Bonus up to $200
EURUSD Spread0.75
Total Assets13
PlatformsWebTrader, App
Account CurrenciesUSD

Pros

  • Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
  • The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
  • Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust

Cons

  • Although support response times were fast during tests, there is no telephone assistance
  • Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
  • The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
Visit Plus500 US
Plus500 US Review

Chart

USDCHF Chart by TradingView

Breaking Down ‘USD/CHF’

Firstly, what does USD/CHF mean? The exchange rate you see is simply how many Swiss francs (the quote currency) it will cost to buy one US dollar (the base currency).

The USD/CHF is one of the most popular traded currency pairs on the forex market. The CH stands for ‘Confoederatio Helvetica’. This is Latin for Switzerland. Whilst the F stands for ‘franc’.

But what makes this pairing so interesting?

  1.  The US dollar is the world’s largest and most actively traded currency. In fact, it represents approximately half the trading volume of all major currencies.
  2. The Swiss franc is popular because Switzerland holds an impressive one-third of the world’s privately-owned wealth in its banks.

It’s also worth bearing in mind that Switzerland is not the only country to use the Swiss franc. Liechtenstein, located between Switzerland and Austria and consisting of just 35,000 inhabitants, also use the Swiss franc.

Why Day Trade USD/CHF?

With so many currency pairings available, why does the USD/CHF currency pair deserve your attention?

Drawbacks & Risks

Although the USD/CHF pair comes with a number of benefits, there are also certain drawbacks and risks you should be aware of. The most significant of which are:

Influences on Movement

Trading the USD/CHF currency pair relies on a detailed understanding of what influences changes in prices and rates. Unfortunately, candlestick charts cannot give you the context that can often prove invaluable.

So, what affects movement in the USD/CHF exchange rate?

USD/CHF Currency Correlations

Currency pairs do not move independently of each other. Many are tied to the movement of other pairs. This is known as correlation. Correlation is a statistical measure, ranging from -1 to +1. You can have either:

Often the USD/CHF currency pair is negatively correlated with the EUR/USD. So, traders usually sell the USD/CHF when the EUR/USD price surges. The opposite then happens when the USD/CHF rallies.

There is also a negative correlation between the USD/CHF and the GBP/USD pairs. This is a result of the positive correlation of the Swiss franc, euro and British pound.

Switched on day traders will use this information to their advantage. Looking to other currency pairs may allow you to make more accurate short-term projections as to the movements of the USD/CHF.

USD/CHF Day Trading Strategy

Timing

One of the things that appeal about forex trading and investing is that markets are open 24/7, and you actually get a lot more profitable trading time with the USD/CHF pair than many others. You can trade the pair from Sunday evening until Friday afternoon in the US. However, both volume and volatility will vary throughout the day.

You will find both highs and lows during each 24-hour cycle, but bid-ask spreads will widen during quieter periods, then narrow during active periods. So, when is the best time to trade the USD/CHF pair?

The biggest daily moves often take place when Eurozone and Swiss economic data is released, plus at opening hours for equity, options and futures exchanges. A lot of the data mentioned on this page is usually released between 02:00 and 05:00 ET. The half an hour to one hour before these releases and the three hours afterwards will see the most activity.

Also, some US economic releases can come between 08:30 to 10:00 ET. Again, the periods preceding and following these releases can trigger price action. So, many strategies may benefit from focussing their attention on these time periods.

Traders should also note that forex action often drops significantly around the US lunch hour.

Example

If you’re looking for a simple, straightforward USD/CHF day trading strategy, then consider the example below.

Whilst some traders prefer a 5-minute or 15-minute real-time chart, for this basic strategy, a 1-hour chart is recommended.

You then simply need to mark the high and low of each candle of the trading day. Then your pending order buy should be entered 10 pips above the high. Whilst your pending order sell should be entered 10 pips below the low.

You will also need to minimise your risk and protect against substantial losses. So, place a stop-loss 30 pips from your buy/sell order.

The example here is basic. If you are looking for more detailed strategies, take a look at our strategy page.

News

Some people prefer day trading the USD/CHF currency pair using historical price charts and complex data. Whereas some focus on trading breaking news. News updates can quickly influence market sentiment.

However, to profit from these announcements you need to be tuned in and ready to react at a moment’s notice. Plus, you need access to reliable and thorough sources.

Below you will find some of the most popular and relevant news resources:

On top of breaking news announcements, these sources can also provide a number of other useful services:

So, if day trading on the USD/CHF using the news is part of your plan, all of the above are resources worth exploring.

History

Early History

Since the launch of the Swiss franc in 1850, the franc has enjoyed enormous strength as a currency. Today the USD/CHF pair now boasts the sixth-largest volume in the global forex space. Originally though, the history of the pair represented steady investment connections between the US and Switzerland.

Direct investments from the US to Switzerland have hit a massive $129.8 billion. As such, over the years the US has become Switzerland’s top destination for foreign direct investment (FDI).

Both currencies have also benefited from strong trade ties. The US is Switzerland’s second-largest trade partner after Germany, representing a 10% share of Switzerland’s foreign trade. Conversely, Switzerland is the US’s 17th largest trading partner, worth just 1.4% of total US trade.

These trade and investment connections shaped much of the USD/CHF relationship for many years. Today, however, current prices and forex live charts respond to more current events.

Recent History

To some extent, the great depression shaped the Swiss franc we know today. It appreciated against all other major trading partners, except the Japanese yen. It grew so strong the SNB actually stepped in to intervene in the currency market.

The SNB aimed to halve the appreciation of the franc against the euro. However, the intervention had clearly failed by 2014. So spectacular was the failure that the franc surged, rallying over 25% in just a few minutes.

It is clear then that the SNB play a vital role in the FX market. This is particularly the case for those trading binary options based on the USD/CHF pair.

Many people do not realise the extent that movement in your live, forex interactive chart is influenced by past events. Events that if you know happened before, allow you to analyse and predict the effects on FX rates this time around.

Role of US Dollar

Whether your day trading strategy relies on support and resistance levels, daily pivot points, or breaking news, having a feel for the staggering role the US dollar plays will help you anticipate future price movement.

Below are some of the key roles the US dollar plays:

Just a brief look at a long-term USD/CHF chart will show you how prices and average daily ranges shift when announcements are made about the US dollar.

To understand whether the US dollar will strengthen or weaken against the Swiss franc then, you will need to consider a number of important economic indicators.

The most important of which, are as follows:

So, USD/CHF technical analysis and forecasts for today should take note of important data releases in the economic calendar.

Also, bear in mind the Federal Open market Committee holds eight regularly scheduled meetings per year and economic projections will be published along with press conferences every three weeks. All will result in the US dollar moving sharply against other currencies, including the Swiss franc.

Role of Swiss Franc

Getting to grips with USD/CHF day trading means understanding what drives the Swiss economy and franc. Switzerland has famously remained neutral in all major wars in Europe. It is also surrounded by the Alps and considered a stable, isolated nation. This has resulted in the Swiss franc becoming a safe haven currency when turmoil strikes.

This reputation is bolstered by their role in private banking. Despite rules loosening somewhat in the last ten years, Switzerland remains a huge global player in the private banking, insurance, and investment management sectors. They are home to global titans UBS and Credit Suisse.

However, focussing on economic activity in the Eurozone, which influences US movements, is perhaps more useful. 80% of Switzerland’s trade activity happens with the EU.

This means the SNB is often more concerned with its currency vs the euro than the US dollar. It usually only steps in if the franc is too weak or strong vs the euro. Why? Because this will benefit Swiss export businesses, that are mainly involved in trading with neighbouring countries.

To a certain extent then, the role of the Swiss franc and the size of the economy is determined by the successes of their major exporting industries. You will know of two of their big exporting industries, watches and pharmaceuticals.

Overall, your daily forex analysis will be influenced by the huge role the Swiss franc plays as a stable, safe-haven currency. Not to mention the support of the formidable banking system it has behind it.

Final Word on USD/CHF Trading

Day trading on the USD/CHF currency pair promises volatility, volume and liquidity. However, generating profits can prove challenging as the Swiss franc is seen as a safe-haven currency.

You will need to use in-depth technical analysis, calling on charts, patterns, the latest foreign exchange news, plus a range of economic resources and indicators. It is also important you find the best forex trading platform for your needs, who will facilitate fast and cost-effective trading.

If you can do all of the above, then you’re one step closer to joining the likes of hugely successful forex traders, such as George Soros and Richard Dennis.

For more guidance, see our forex page.

FAQ

What Is USD/CHF?

USD/CHF is one of the most popular traded currency pairs in the forex market, also known as the ‘Swissy’. The pair represents the exchange rate of how many Swiss francs (quote currency) it will cost to buy one US dollar (base currency).

The USD/CHF currency pair is popular due to the US dollar being the base currency (the world’s largest and most actively traded currency). In addition, the Swiss franc is often regarded as a safe haven currency, since Switzerland is a relatively stable country politically and financially.

What Are The Benefits Of Trading USD/CHF?

USD/CHF is less volatile than others pairs and also relatively liquid. Due to its stability, it is also fairly easy to apply technical and fundamental analysis when trading the currency pair. Traders can also enjoy a range of trading vehicles, such as futures, options and ETFs.

What Are The Risks Of Trading USD/CHF?

Due to less volatility than other pairs, traders may not have as many opportunities to profit from price swings. In addition, using leverage and margin when trading can carry some substantial risks.

How Can I Start Trading USD/CHF?

To start trading USD/CHF, you will need to register at an online broker. This will allow you to make a deposit and use the available trading platforms, such as MetaTrader 4. If you’re new to trading, it’s advised to start practising in a demo account first, which is usually offered for free.