Foreign exchange, commonly known as Forex or FX, is the exchange of one currency for another at an agreed exchange price on the over-the-counter(OTC) market. Forex is the world’s most traded market. Shutterstock Image - Foreign exchange, commonly known as Forex or FX, is the exchange of one currency for another at an agreed exchange price on the over-the-counter(OTC) market. Forex is the world’s most traded market. - ID: 731634877