USD/CHF is quoted in Swiss francs, so a pip is worth CHF 10 per standard lot, and on a dollar account that becomes 10 divided by the USD/CHF rate. When USD/CHF is below 1.00, each pip is worth more than $10, which means sizing it like EUR/USD puts more money at risk than you planned. This calculator converts the CHF 10 pip into your account currency with the latest ECB reference rate. The worked examples below assume USD/CHF at 0.8000, which gives $12.50 per pip per lot.
USD/CHF contract facts
| Item | Value |
|---|---|
| Standard lot | 100,000 USD |
| Mini / micro lot | 10,000 / 1,000 USD |
| Pip | 0.0001 (4th decimal; the 5th decimal is the MT5 "point") |
| Quote currency | CHF |
| Pip value, 1 lot | CHF 10 |
| Pip value in USD | 10 ÷ USD/CHF rate |
| Pip value at USD/CHF 0.80 / 0.85 / 0.90 | $12.50 / $11.76 / $11.11 |
| Pip value on a CHF account | CHF 10, no conversion |
The base currency is the dollar, so 1.00 lot is $100,000 of exposure. How much a lot is in forex covers the units if you need them.
Computing the pip value yourself
Pip value per lot (USD) = 10 ÷ USD/CHF rate
Pip value per lot (CHF) = 10At an assumed 0.8000: 10 ÷ 0.80 = $12.50. At 0.8500: $11.76. At 0.9000: $11.11. The lower the rate, the more a pip is worth in dollars. That is the opposite of what intuition suggests for a pair where the dollar is the base, and it is the reason a fixed "$10 per pip" is wrong here. The rates on this page are assumptions for the examples, not quotes. The calculator uses the day's ECB reference rate and shows its date under the result; the pip value calculator gives the value for any lot size.
The lot size formula for USD/CHF
Lot size = (Account balance × Risk %) ÷ (Stop loss in pips × Pip value per lot)Compute the loss per lot in francs, convert it once, then divide. The complete lot size guide shows the same steps on other pairs. Lot sizes are rounded down to 0.01, as the calculator does.
Example 1 — $10,000 account, 1% risk, 20-pip stop, USD/CHF 0.8000 (assumed):
- Risk amount: $100
- Loss per lot: 20 × CHF 10 = CHF 200 = $250.00
- Lot size: $100 ÷ $250.00 = 0.40 lots
Example 2 — $5,000 account, 1% risk, 30-pip stop, USD/CHF 0.9000 (assumed):
- Risk amount: $50
- Loss per lot: CHF 300 ÷ 0.90 = $333.33
- Lot size: 0.15 lots
Example 3 — CHF 10,000 account, 1% risk, 20-pip stop:
- Risk amount: CHF 100
- Loss per lot: CHF 200, no conversion
- Lot size: 0.50 lots
Example 4 — $100,000 prop-firm account, 0.5% risk, 25-pip stop, USD/CHF 0.8000 (assumed):
- Risk amount: $500
- Loss per lot: CHF 250 = $312.50
- Lot size: 1.60 lots
Most funded accounts also cap the loss per day. Prop firm daily drawdown explains how that cap is measured, and prop firm rules lists it by firm.
Quick reference: USD/CHF lot size at 1% risk (USD/CHF 0.8000 assumed)
| Account | 10-pip stop | 20-pip stop | 35-pip stop | 50-pip stop |
|---|---|---|---|---|
| $1,000 | 0.08 | 0.04 | 0.02 | 0.01 |
| $5,000 | 0.40 | 0.20 | 0.11 | 0.08 |
| $10,000 | 0.80 | 0.40 | 0.22 | 0.16 |
| $50,000 | 4.00 | 2.00 | 1.14 | 0.80 |
| $100,000 | 8.00 | 4.00 | 2.28 | 1.60 |
For 0.5% risk, roughly halve each figure; for 2%, roughly double it. At USD/CHF 0.85 every figure is about 6% larger, at 0.90 about 12% larger.
What makes USD/CHF different
- The pip value is above $10 whenever the rate is below 1.00. Every pair quoted in a currency stronger than the dollar works this way. On USD/CHF it catches traders because the dollar is the base and the pair "looks" like a dollar pair.
- The Swiss National Bank can move it without warning. In January 2015 the SNB removed its EUR/CHF floor unannounced, and franc pairs gapped far through stops. A stop is an order to close at the next available price, not a promise of that price.
- The franc is treated as a safe haven. In risk-off episodes it tends to strengthen against most currencies, and USD/CHF can move on headlines that have nothing to do with Switzerland or the US.
- It overlaps with EUR/USD. Both have the dollar on one side. A long USD/CHF and a short EUR/USD are both long dollars, so together they are one larger bet, not two.
- US data matters most for the dollar leg. Fed decisions, US CPI and payrolls move USD/CHF alongside every other dollar pair; SNB decisions move the franc leg.
Common USD/CHF sizing mistakes
- Using $10 per pip. At 0.80 the true value is $12.50, so the position comes out 25% too large and a stop-out costs $125 where you planned $100.
- Converting the wrong way. Multiplying CHF 10 by 0.80 gives $8.00, which makes the position more than 50% too large. Divide by USD/CHF.
- Stacking dollar exposure. USD/CHF long, EUR/USD short and GBP/USD short on the same day are three versions of the same trade.
- Tight stops into SNB announcements. Gaps on franc news can skip over a nearby stop entirely.
- Memorising a pip value. $12.50 at 0.80 is $11.11 at 0.90. Recompute when the rate moves.
Track your USD/CHF trades in Fips
The calculator on this page is free and needs no account. Fips, the trading journal it belongs to, is in private beta with access by waitlist. In the trading journal, MT4 and MT5 accounts sync through the read-only investor password and cTrader through view-only access; other platforms come in by CSV import or manual entry, and Fips never asks for your login password. Seeing your USD/CHF trades next to your other dollar pairs makes it obvious when several positions were really one bet.
Frequently asked questions
How much is 1 pip on USD/CHF?
CHF 10 per standard lot, which is 10 divided by USD/CHF in dollars: $12.50 at 0.80, $11.76 at 0.85, $11.11 at 0.90.
Why is the USD/CHF pip value more than $10?
Because the quote currency is the franc. A pip is CHF 10, and when one dollar buys less than one franc, CHF 10 is worth more than $10.
What lot size should I use on a $10,000 USD/CHF account?
At 1% risk and a 20-pip stop with USD/CHF at 0.80, 0.40 lots. With a 35-pip stop, 0.22 lots.
Does the calculator on this page use a live rate?
It uses the latest daily ECB reference rate, shown with its date under the result. It is not a live quote; if the rate cannot be loaded, the calculator asks you to enter it.