FXCM
2.9 of 5 115 reviews
www.fxcm.com New York, NY 500 to 999 Employees

FXCM Reviews

Updated Jul 5, 2014
All Employees Current Employees Only

2.9 115 reviews

                             

44% Approve of the CEO

FXCM CEO and Director Drew Niv

Drew Niv

(64 ratings)

46% of employees recommend this company to a friend
23 Employee Reviews Back to all reviews
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    1 person found this helpful  

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

    Anonymous Employee (Former Employee)

    ProsYou 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.

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

    No, I would not recommend this company to a friend

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

    Employee (Current Employee)
    New York, NY

    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 Senior 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.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    Great first time experience. Learned a lot about forex.

    Senior Relationship Manager (Former Employee)
    Plano, TX

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

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

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    3 people found this helpful  

    Disappointing career move

    Operations Associate (Current Employee)
    Dallas, TX

    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

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    4 people found this helpful  

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

    Anonymous Employee (Current Employee)
    New York, NY

    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 Senior ManagementLets 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.

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    FXCM HR Generalist responded to this review Mar 7, 2013 EditDelete
    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
    • Culture & Values
           
    • Work/Life Balance
           
    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Disapproves of CEO

    6 people found this helpful  

    Take a position at your own risk....Be careful before selecting this company as a long-term employer

    (Former Employee)

    Pros*A good place to learn some basics as a new college graduate;
    *If you were a quality student, you will likely have more experience than your manager;
    *Based on your department and manager, an opportunity to obtain information quickly over a short period of time prior to moving on to a more professional company;
    *There are some good people working for the company, very few, but some;
    *The medical and dental plans are okay, but you will never see matching 401K! Forget it!

    Cons*The company is corrupt, especially on the upper management level; lacks ethics and integrity;
    *The management staff lacks experience and does not have the opportunity to train with other professionals to know that their experience level is below average;
    *The inexperience trains the inexperienced, a combination that does not produce top talent that is competitive outside the company;
    *The culture and vision is poor, as nepotism is extremely, extremely, high....meaning, mostly all persons in top level positions are related to the partners, friends of the partners, possibly intimate with upper management, in the partner's religion group, or connected to the partners;
    *Over 90% of employees will never reach their true goals/potential while working for this company; if you accept a position, only remain for 1-2 years at max for resume purposes and move on to a company that will compensate you fairly, treat you fairly and respect you professionally;
    *The best advise, do not trust anyone in this company, not even legal, as there is no real camaraderie....whenever a company is corrupt from top down, you should only trust people as far as you can see them; as soon as your back is turned, your trust level should be at 0;

    Advice to Senior Management*In most cases, the management at FXCM are in denial and they have requested for employees to list positive feedback on this site; and they are in denial about the posts on Glassdoor, but from personal experience, almost 100% of the posts have some or all true statements....learn from the feedback, make improvements, and actually care about the employees working for your company. In most cases, upper management could care less about the people working for them, but remember, the people are the company, a company's greatest asset, and without them, FXCM is nothing!

    *In addition, to those that believe they are really upper level management (meaning not promoted by a family member), unless you take measures to inhance your career outside of FXCM, (ie. networking, outside training, upper level degree, etc.), your career path outside of FXCM will be very limited, as you are being fooled to think that you are actually VP's/MD's, while you are really, maybe, supervisors, managers, customer service supervisors, and in some cases, regular employees that need additional guidance. If anything, access yourselves and ask yourselves, did I really have enough experience/education to be in this role? In most cases, you will not be truthful because FXCM's management tend to be full arrogance and deceit, so maybe a true 360 assessment done by an outsourced company (someone not related/friends with the partners or employees) will allow you to gain a true insight.

    Advise to the employees....if you hear a little voice in your head telling you something is wrong, you cannot trust it, and you feel that you should start looking for another career/company...well, you are 6 months behind and should start looking immediately. This means that you have a conscious, ethics and values and FXCM is certainly not the company for a person that possess those characteristics!

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    FXCM Human Resources responded to this review Mar 7, 2013 EditDelete
    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
    • Culture & Values
           
    • Work/Life Balance
           
    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Disapproves of CEO

    2 people found this helpful  

    Keep Jobs in America

    Anonymous Employee (Former Employee)
    Plano, TX

    ProsVariety of hours available. Met some life long friends there.

    ConsLow pay, management team is inexperienced, laid off to send my job over seas, micro-managers, people are treated as numbers not humans.

    Advice to Senior ManagementHigher positions should work their way up not just get a position bc of seniority. Many of upper management didn't know how to do the job they were supervising for. Don't micro-manage, trust the people that have been hired.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Horrible, Do not work here if you have any self value

    Compliance (Current Employee)
    New York, NY

    ProsIt is a good place to get entry level experience however be careful as it does not have a good name and if you want to move on other financial institutions will not identify with the firm.

    ConsSalary and working conditions are sub par. You are not treated well and there is no form of recognition whether it is via compensation or via other means.

    Advice to Senior ManagementLearn how to manage talent and work on promoting a more positive environment.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    Please do not waste your time

    Anonymous Employee (Former Employee)
    Plano, TX

    ProsGood health insurance and life insurance

    Conspay interns 10.00 an hr
     Nepotism is unbelievable.
    Management is very out of touch..
    Jobs are bait and switch
    HR Department is only for company - beware...

    Advice to Senior ManagementDo monthly reviews of VPs and HR from employees . The VPs are inexperienced and should be reviewed and sent to CEO. Things would be different if CEO would quit turning their head . Look at all the good people, they are gone!

    No, I would not recommend this company to a friend

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    3 people found this helpful  

    The land of dictatorship

    Anonymous Employee (Current Employee)
    New York, NY

    ProsAt FXCM, they make you learn on the job as quickly as possible, and there are opportunities to grow in that specific field.

    ConsSevere hierarchy system where the CEO is the ultimate decision maker even for the smallest company tasks. You will never get to a higher position based on your actual skills, but you will based on the brown-nosing.

    No, I would not recommend this company to a friend

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FXCM – Why Work for Us?

FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk… Full Overview

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Glassdoor is your free inside look at FXCM reviews and ratings — including employee satisfaction and approval rating for FXCM CEO Drew Niv. All 23 reviews posted anonymously by FXCM employees.