FXCM Reviews

Updated March 10, 2015
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FXCM CEO and Director Drew Niv
Drew Niv
16 Ratings

27 Employee Reviews

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  1. Once Great Company Working Hard to Fail

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Get to learn a lot about the Forex Market
    Opportunity to learn about different departments and gain new skills

    Cons

    Company no longer cares about their employees
    Promotions/Bonus structure is highly biased and subjective
    Management hasn't learned to "manage" and don't take responsibility for their short-comings

    Advice to Management

    Purge management and start over. Things can't get better if you don't fix the root of the problem.

  2. Helpful (3)

    High stress

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Service Representative
    Current Employee - Financial Service Representative

    I have been working at FXCM full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good entry level pay bc of bonuses. 45k + $700-2k a quarter if you meet your goals.

    Cons

    Micro managed. Extremely stressful and little breaks to take a breather. Expect to not stop talking to clients for 8 hours straight.

  3. Helpful (10)

    There are a lot of people jumping ship....I wonder why?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Bolstered my ability in sales. Lower level management is very hands-on with their employees and knowledgeable about the FX market. They will work closely with you to develop your weaknesses and turn them into strengths.

    Overall, I think everyone here truly believes in this company and its ability to grow and outperform its competitors.

    Cons

    Increasing workload, while significantly decreasing employee compensation is not a recipe for success. It became very clear during my time with the company that the CEO's primary concern is the majority shareholders' stock price increasing, and has absolutely no regard for the bottom line employees not already vested in the company.

    While there were some highly talented and very committed employees in this company when I first started, they, as well as I, have all now left due to the above mentioned reason. This is quite disconcerting.

    Low growth opportunity due to an over saturated upper management team is not very motivating.

    Lastly, the company's culture needs a defibrillator, it has flat lined.

    Advice to Management

    Remember where you started in the company.

    Promising me a paycheck tomorrow doesn't help my paycheck today.

    If you ever read this feedback, please make some changes.

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  5. Helpful (7)

    Great Experience, Terrible Middle Management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Operations
    Former Employee - Operations

    I worked at FXCM full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    + Great exposure to the forex industry.
    + Looks positive on your resume, can leverage experience
    + Small company, so you get personal face time with senior management and the executive team right away
    + Your peers are very friendly and do their best to make it a great place to work
    + Senior Management has put the company in a good position to succeed going forward. Every interaction I had with the executive team was positive. It's too bad that can't seem to filter down to the lower levels.

    Cons

    + Pay is well below industry average, especially after they eliminated the generous bonus structure. The Sales side of things seemed to be more on par with the industry average.
    + Middle management is awful, with no leadership in place. No feel for their employees and fail to get buy in.
    + Micromanagement - down to the number of bathroom breaks you take. This will come up in your quarterly evaluation.
    + Little to no real advancement opportunities within the United States, despite what they advertise to new employees. I hope you enjoy Bulgaria. Pretty much told to do your job and go home, no development.
    + Nepotism is rampant when promotions and bonuses become available. You are allowed to have an opinion... as long as it agrees with theirs. Don't speak out in opposition of something if you want to keep your promotion opportunities alive.
    + High employee turnover - indicative of the terrible management that occurs at the lowest levels.

    Advice to Management

    Get back to your roots and take care of your employees. If you want to have productive employees, then treat them like human beings. You are still a small company and should be able to have a great corporate culture, but you have managed to have all the cons of being a public company (red tape, nepotism, unhappy employees) without any of the public company benefits (higher compensation, etc.)

    You have lost a significant number of talented employees over the past two years. Each one of them that I have talked to since they left is much happier at their new company. I have never been around a group of lower-level employees that is more miserable than during my time at FXCM.

  6. Helpful (3)

    Interesting work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great coworkers
    Normal hours
    Workload was never crazy
    Interesting work

    Cons

    Shady business ethics / senior management

  7. Helpful (2)

    A good place to start your career but not really any room for advancement.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    You will enjoy working with your colleagues on the same level as you. You will gain some great experience in the FX markets as well as with interacting with people on the phone.

    Cons

    Management is terrible. They do not value their employees at all. There is extremely little room for advancement within the firm and they are just fine with that, as they consider the majority of their employees to be a dime a dozen.

    Advice to Management

    If you want your employees to excel, show them you care about them. It will speak volumes for the company.

  8. Helpful (2)

    It is very easy to get in to the company. The bar is not very high. Which is reflected in pay.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Employee in New York, NY
    Current Employee - Employee in New York, NY

    I have been working at FXCM full-time (More than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    - Easy environment.
    - Not much of a rush to get anything done.
    - The experience you have will really depends on the manager you get. Some are decent, others are not.

    Cons

    - If you're ambitious, this is a wrong place to be or it should be a stop along the way - very brief stop.
    - Management has been in place forever. These few people who joined the company a while back have held the spot and control the information going to upper management to keep it that way.
    - Along the same chain of thought - politics is fostered in the company from the highest level. Managers fighting among each other about what they control and how they control it even if it is detrimental to the business or general operations. Example of this is: If something goes wrong, rather than fixing it, every email is dissected to find out who to blame among the many departments working on the project.
    - A lot of employees have recently described the company as a sinking ship. Bonuses are cut, no raises are given. Most of the fault for that goes to the partners who have not diversified the business. They keep thinking of acquiring other FX firms rather than branch in to other markets. This is what it seems to me as an employee of many years. I'm not privy to their future plans.
    - Quality of people is not high. No go-getters... people just going with the flow to earn a living. I'm among them.

    Advice to Management

    - Top management should start firing or laying off managers when politics is being used within the company. Although there will be a vacuum as to who fills those spots. No real leaders all around.
    - Keep an open mind and listen to bottom level employees. Don't just listen to managers you've appointed while back.
    - How is seniority a qualification or requirement for promotion? Wake up.

  9. Helpful (3)

    Great first time experience. Learned a lot about forex.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Relationship Manager in Plano, TX
    Former Employee - Senior Relationship Manager in Plano, TX

    I worked at FXCM full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Great hands on work experience. So great people on the entry level who will work with you and support you.

    Cons

    Internal promotion of management leads to a cycle of nepotism and lack of quality management. Lack of possible growth in movement upward.

  10. Helpful (3)

    Disappointing career move

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Associate in Dallas, TX
    Current Employee - Operations Associate in Dallas, TX

    I have been working at FXCM full-time (Less than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    -Team members are friendly enough
    -They offer the opportunity for people with little to no experience to get their foot in the door of the financial industry

    Cons

    -There is no opportunity for growth
    -Productivity matrix puts extreme pressure on employees and causes them to make mistakes... then the errors are reported and used against the employees
    -Management can't be bothered to even talk to the employees, much less guide them
    -Salaries are much lower than the industry standard and bonuses are held over employees' heads
    -Quarterly performance reviews for associates that include review of errors and anonymous peer feedback

  11. Helpful (5)

    Inevitable learning curve for the young management / firm, as result everybody below must suffer along

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at FXCM full-time (More than 3 years)

    Pros

    - if you are a good boy and can show competency, opportunities be opened to work across departments/roles of your interest

    Cons

    - unable to speak your mind and have some kind of satisfactory of candit conversation before a young manager shoot u down for erratic behavior
    - lower your expectations, there is already too many mouths to feed so don't expect a raise for increased responsibilities/expertise work, at least communication wise....i never get this!
    - throws around title promotions like its out of style, result: lower credibility of that title
    - micromanage practices: either a)management is not confident of the subordinate b)manager is arrogant and need to feel good about him self
    - both is true: a)if you are not confident why is that subordinate working there for 4 years already and still asking the same question b) I know you think u are not getting paid fairly because this is the first job you've had out of college and you are at senior management already
    - rather hires a stupid one than a smarter one to save on money i suppose, result: a chronic culture of feeling of injustice whereby standards always seem to come short, not just relative to perceived industry standards but specially within the departments and ranks
    - not much of a culture, low morale, and you wonder why! we all like to think that everyone could just get along. but the truth is professionally there is little room for those who don't meet the standards. hey it is a business right
    - so if you demand high standards and discipline, you will have hard time reconciling with yourself there
    - compensation is not just compared to industry, but also prominently compared within the firm and ranks. you have those get paid too much, and those not enough based on the work they do

    Advice to Management

    Lets look back at all the decisive changes made recently. Deliberate changes happen because the current form is not fitting, as you would agree. Your business model, no dealing desk, has not change that much overall. That leads to the presumtion that most changes made are for existing operating conditions. Lets keep working on those conditions.

    FXCM Response

    Mar 7, 2013HR Generalist

    Thank you for taking the time to provide feedback on your experience working at FXCM. We greatly value the opportunity to utilize this information constructively so that we may capitalize on the ... More

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