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What is Forex? Foreign Exchange popularly known as Forex or FX is a market for the buying and selling of different currencies and it is one of the fastest growing avenues to making money online. Transactions on the market are done through electronic means (internet and telephone) through an intermediary called the Forex broker. However, major trading 'centers' exists in London, New York, and Tokyo. Other trading 'centers' are: Singapore, Frankfurt, Geneva & Zurich, Paris and Hong Kong.