"Forex" is a popular short name for foreign exchange and generally refers to off exchange trading in foreign currency.

The term "Foreign Exchange" generally refers to off exchange trading in foreign currency. It may also refer to currency trading on exchanges such as the IMM at the Chicago Mercantile Exchange. Trading Forex does not involve physical delivery of foreign currency into foreign bank accounts.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.