The USD CHF price, how to trade the dollar Swiss Franc pair. The pair is part of the group of significant forex currency pairs. As such, it is viral, especially with investors interested in short-term trading. This article will explain how to start trading quickly and the best forex brokers in France.
How to Trade the USD/CHF Pair 0% Commissions?
You will be able to discover in detail in the sections that will follow the steps to open an eToro account. We will also explain how to trade the Dollar Swiss Franc on the Forex without complications.
Step 1: Registration with eToro:
During this first, you will have to fill in basic information on the registration form. In particular, you must specify your first and last names, telephone numbers, and email addresses. It will also be necessary from this first step to choose a password.
Step 2: Verify your Account :
For this 2nd step, you will need to verify your trading account. To initiate the procedure, click the “Complete profile” button. You will then be asked for your physical address. Remember that you will need to provide proof of address showing this address. You will also have to answer the questions of the KYC (Know Your Customer) questionnaire.
This questionnaire includes several questions on your experience of the markets, your trading knowledge, the level of your income, your assets, or your situation. It is important to note that this is a legal obligation for all regulated European brokers. Indeed, this allows them to ensure that their clients understand the risks of the financial products they trade.
Step 3: Fund your Forex Account:
After verifying and validating your Forex account, the ability to deposit money will be unlocked. So you can start trading USDCHF in real life. Begin this process by clicking on the “Deposit Money” button in the lower-left corner of the eToro interface.
On this screen, you must first enter the amount to be deposited. You will also need to choose the currency to use. During this step, you will also be asked for information related to the means of payment to validate the transaction.
Step 4: DisplayChart
To view all 52 currency pairs available on the eToro platform, click “Markets” in the left column first. On the next screen, you must click on Forex in the top menu. All o2 currency pairs available on the platform of this online broker will then be displayed.
Note that this list includes attractive and convenient features for traders. It consists of a mini chart and sentiment data for each currency pair. This allows at a glance to identify the best opportunities to study in more detail
.If, however, you want to access the USD CHF pair directly, it is quicker to type the name of the currency pair directly into the search engine at the top of the trading platform.
Step 5: Trade with Live Quotes
Several critical parameters must be configured on the order window reproduced below.
- Order type: Immediate or scheduled
- Amount to devote to the USD CHF position
- Leverage to apply to this USD CHF trade
- Stop-Loss, the protection threshold in case of loss
- Take-Profit, the profit target
After filling in and carefully checking these parameters, you must click the “Open position” button. The order will then be immediately transmitted to the market. In the case of an order for immediate execution, it will then be immediately possible to follow its evolution on the eToro platform.
The Best Forex Trading Brokers:
This section will review each of the brokers mentioned in the previous list. You can choose the intermediary that best suits your expectations and objectives.
Toro: Trading USD CHF 0% Commissions with a Platform Appreciated by Beginners
There are many good reasons why traders choose eToro. It is often an optimal choice for beginners, especially on the USD CHF pair. These include a top-notch broker regarding security and reliability, the most important criteria to consider when comparing online brokers.
First of all, it should be noted that the broker was founded in 2006, which gives it a long history of reliability. Still, it is also a broker regulated by two different bodies, namely CySEC, the Cypriot financial authority, and FCA, the UK regulator.
When trading the USD-CHF pair, eToro also has much going for it. The first is undoubtedly the ease of use of its interface, which has quickly become the most popular with beginners. The platform is straightforward, with a transparent organization and a pleasant design. Of course, it also contains all the analytical tools experienced traders need.
Another strong point of eToro is its social trading feature. EToro is the undisputed leader in this field. You can identify this broker’s best USD/CHF traders and automatically copy their positions to your account.
Although the USD CHF is one of the most traded currency pairs on eToro, it should be noted that 52 forex currency pairs are available on the platform. But eToro traders can also diversify into indices, commodities, and ETFs. Cryptocurrency trading is also possible.
Regarding commissions, it should be noted that eToro does not charge any commission for buying and selling the USD/CHF pair, but it does set a spread. It is in the middle of the market, with no other costs. Finally, you can enjoy a default leverage 30 when trading USD CHF.
Libertex: A Long Experience at the Service of USD CHF Traders
Libertex, the broker we placed second in this ranking, also has many strengths about significant criteria.
First, regarding reliability and security, Libertex is a broker founded in 1997. As such, it is one of the oldest brokers online. Of course, it is also a Cysec-regulated broker in Cyprus.
Regarding USD CHF trading, it should be noted that Libertex offers you the choice between two platforms. These are WebTrader, the broker’s platform, and the famous MetaTrader 4.
WebTrader can be used on any Internet browser and is a remarkably easy-to-use platform popular among traders new to the market. MT4 is the preferred platform for automated traders. It should be noted, however, that this software has a more austere design and less ergonomic navigation than most other platforms.
USD CHF trading on Libertex
Currency traders will also appreciate that this broker offers almost 50 currency pairs to trade. But it also provides access to other markets. These include indices and commodities, but also cryptocurrencies.
There is another unique feature of Libertex regarding Forex, an advantage that cannot be found elsewhere. Libertex indeed offers foreign exchange transactions without spreads. This means all currency pairs have a 0 pip forex spread on this broker. On the other hand, it takes a small commission for each transaction. But in the end, simple calculations show little difference in the total cost of trading between a spread broker and a commission broker.
Besides the zero spread, it should be noted that USD CHF trading on Libertex is done with a maximum leverage of 30. This is a legal maximum imposed by European regulators. This limit can be increased significantly by validating a pro account.
XTB: Trader USD CHF with a Broker Based in France
XTB is a forex broker founded in 2002, so it has a reassuring seniority, with nearly 20 years in business.
However, its strongest argument regarding reliability is that it is one of the few forex brokers to have a physical office in France. It is also a multi-regulated broker by the FCA of the United Kingdom, the CySEC of Cyprus, and the KNF of Poland.
In addition to giving you access to a wide range of currency pairs, including USD CHF, the XTB broker allows you to trade CFDs on indices, commodities, stocks, ETFs, and cryptocurrencies.
Trading USD CHF at XTB
XTB offers its forex trading platform, xStation5. Besides Forex, it lets you trade a wide range of assets, with over 4,000 securities available.
The XTB platform is also available as a trading app for iOS and Android. You can use XTB to invest in Forex or other markets anywhere.
Finally, it should be noted that the spreads on the USD/CHF pair are exceptionally reasonable. In addition, current European regulations state that USD/CHF trading is done with a maximum leverage of 30.
XM: Online Broker with Free USD CHF Training
The XM broker is also a financial intermediary that should hold your full attention. Like the other brokers on this list, this is an experienced broker, founded in 2009.
It is also a broker regulated by several agencies, confirming its seriousness. No less than four regulators oversee the activities of this broker, namely Cysec from Cyprus, ACIS from Australia, IFSC from Belize, and DFSA from Dubai.
How to Trade USD CHF?
The USD CHF price of how to trade the dollar Swiss Franc pair is practised via an online broker. Before trading, you must open an account with one of these intermediaries. It is the online brokers who will provide you with the trading platforms. There, you will find real-time charts and technical analysis tools that you will use to make trading decisions.
However, trading the USD/CHF pair is more than just studying the charts. Indeed, it is also necessary to keep abreast of economic news. And more particularly, about Switzerland and the United States.
Apart from an online broker and trading platform, a USDCHF trader will also need some starting capital. This amount can be minimal, for example, $200 at eToro. It will also be necessary to be equipped with a computer, preferably with at least two screens, to monitor several markets. You must also have a high-speed internet connection. All this ensures that you can quickly transmit your orders to the market.
The USD CHF price, how to trade the dollar Swiss Franc pair. The pair is part of the group of significant Forex currency pairs, one of Forex’s most important, and is an exciting investment in many respects. Indeed, it has many advantages and key strengths that make it a preferred trading instrument, especially for traders who are interested in the short term. It is, in particular, a currency pair that displays volatility that is a source of many opportunities. But it is also an instrument with clear influences that are relatively easy to analyze.
If this guide has clarified that USDCHF trading could suit you, the next step will be to choose an online broker. We’ve featured 5 of them in this guide, and you can head to each one with your eyes closed.
However, there is one that stands out more than the others. This is eToro. Indeed, its exceptionally easy-to-use trading platform is very popular with beginners. In addition, this broker has some of the lowest fees on the market with no forex commission and a low spread for the USD CHF pair. Finally, beginners will also appreciate the possibility of copying the positions of more experienced traders thanks to the social trading functions.