FXCM

www.fxcm.com
There are newer employer reviews for FXCM

7 people found this helpful  

beware

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

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

Pros

you will learn the basics of financial markets, multi task, basic sales skills

Cons

wow, where do I begin
1. 40k/year with "quarterly bonuses"...you can't live on that if you're in New York or San Francisco.
(I put quarterly bonuses in quotes because management did everything they could to keep any employee from getting any kind of decent bonus. I could have got more donating plasma for a quarter)

2. The minute they found out that the company had terrible reviews on glassdoor, we had a meeting with the head of the department. This person asked us to go onto Glassdoor and give FXCM a "great" rating. If you go through some of the comments you can totally tell which ones were fabricated.

3. If you take anymore than 20 minutes for lunch, you get the stink eye from every manager within 10 feet of you.

4. The head of our department has never been on the phones before, and yet this person is the head of the department...your head should be exploding right now.

5. They say you can advance within 2 years of solid service, but the problem is that they can't keep people...over 60% turnover in the department I'm in.

6. So much micro managing...

7. They say its about "Meritocracy" i call it meritocrazy....you have to play the "game" if you want to get ahead....

8. Company culture is non existent.

Advice to ManagementAdvice

The company big wigs seem very set on keeping the stock price as high as possible...well, if that's what you want, outsource the jobs to India or something.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

129 Other Employee Reviews for FXCM (View Most Recent)

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  1. 5 people found this helpful  

    Okay

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

    I worked at FXCM full-time (more than 5 years)

    Pros

    I met some really great people here who have become lifelong friends. You receive great exposure to the financial markets and have the opportunity to learn about forex.

    Cons

    Salary is below average compared to most of the other companies in the same industry. There is low employee morale. There is no job security. The company is very bureaucratic and there is a high level of nepotism. Employees are hardly rewarded for successes, but are immediately reprimanded for even the smallest error. High turnover rate.

    Advice to ManagementAdvice

    Place more value on one of the most important assets of a company - its employees. Many good employees left on their own due to low morale.

    Doesn't Recommend
    Disapproves of CEO
  2. 2 people found this helpful  

    Long time employee

    • 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 5 years)

    Pros

    1. The people around you are very intelligent. It is a pleasure working with a group of evry intelligent and capable people. Some managers are truly amazing.
    2. You learn the ins and outs of the FX industry.
    3. This job is a spring board to other jobs in the industry and within finance.
    4. Young people are promotoed often and you have the ability to learn a lot about management.
    5. If you have been at the company for a long time, no doubt your position may have changed 3-4 times so you have the opportunity to try out multiple roles.
    6. If you have been at the company for a while, you may have had the opportunity to work out of a different office/country/relocation option.
    7. Truly open door - you are free to speak to anyone - including the CEO.

    Cons

    1. As the company has grown, the close knot environment has vanished. Many people feel that they are just a number and the company may not always be loyal to them.
    2. Because many managers are very young - a few years out of college - their ability to manage is sometimes poor. Oftentimes you have very nitpicky goals that do not represent your work and your value to the firm.
    3. Salaries are not competitive within the financial industry.
    4. Things change very quickly - which can be a pro at times - but for the junior employee it can be very frustrating because benchmarks/requirements/standards are constantly changing. You are often told one thing but then judged on something completely different.
    5. Culture top down is to manage via negative reinforcement. They don't do this on purpose but because they are so ambitious and set such challenging goals, they are reticent to ever give positive feedback. It's always about what you can do better . WHile this works for some - this is not very encouraging for many employees.

    Advice to ManagementAdvice

    Focus on your talent. Employees are the most important thing about a company.
    Hire outside management that have experience
    Standardize development/training procedure across the company.
    Maintanance is just as important as launches of new ideas/products

    Recommends
    Approves of CEO
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