The invention relates to a DC/DC converter operating on the charge pump principle, regulated to a fixed, predetermined output voltage and comprising two charge pump capacitors switched in a switch matrix consisting of nine switches. A control circuit is provided capable of controlling the switches so that the charge pump is changed over between a charging phase and a discharge phase and which is capable of operating the charge pump in two modes having different voltage gain factors (1.5; 2). The regulator comprises furthermore a regulator circuit capable of setting when the charge pump is active in the charging phase in the first mode the ON resistance of a switch present in the charge path of the charge pump capacitors or in the second mode the ON resistances of two switches present each in one of the charging paths of the first or second charge pump capacitor so that the charging voltage presented to the charge pump capacitors in the charging phase assumes the minimum value possible for a specific input voltage of the converter, a measuring circuit capable of defining the voltage occurring at one of the charge pump capacitors at a defined point in time of the charging phase; and a comparator capable of comparing the measured voltage to a predetermined voltage and then when the former attains the latter, changing over the charge pump into the corresponding other mode, wherein the predetermined voltage is selected so that the efficiency of the converter is optimized and the charging condition of the charge pump capacitors is not altered on changeover.