PFX, or "Personal Effects," refers to items that belong to an individual, often used in legal or insurance contexts. These items can include clothing, jewelry, electronics, and other personal belongings that hold value to the owner. PFX is important in situations like estate planning or when assessing losses after an incident. In the context of finance, PFX can also refer to "Private Foreign Exchange," which involves currency trading for individuals or businesses. This market allows participants to exchange currencies for various purposes, such as travel or international business transactions, often facilitated by financial institutions or brokers.