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3 people found this helpful  

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 for less than a year

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

Doesn't Recommend
Negative Outlook
No opinion of CEO

Other Reviews for FXCM

  1. 3 people found this helpful  

    Operations Analyst Intern

    Former Employee - Operations Analyst Intern  in  Plano, TX
    Former Employee - Operations Analyst Intern in Plano, TX

    I worked at FXCM as an intern for less than a year

    Pros

    Laid Back: My Boss was really laid really understood that I had school and worked with me every step of the way.
    Location: Was really close to my house and could take DNT to get here
    People: They are just regular people doing their work, pretty laid back and fun

    Cons

    Pay: 10$ for an intern who is in college is not enough
    People: They don't really welcome the intern and interns just do they work and bounce
    Work: Too redundant and busy work

    Advice to ManagementAdvice

    Build an Internship Program and then hire interns who want to work in operations or any department that you hire in.

    Recommends
  2. 7 people found this helpful  

    Very Unprofessional Environment with Unbelievable Micromanagement

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

    I have been working at FXCM full-time for more than 3 years

    Pros

    - It's a good resume builder. But as soon as you have 2 years in, RUN!

    Cons

    - Favoritism/Nepotism exists at such a high degree that it is an impediment to those who actually try to give input and constructive criticism as to how to improve the product.

    - Speaking of Nepotism, you'll find that almost everyone at higher positions are either friends or relatives with the partners.

    - Sometimes, the partners actually bring their kids to work! Not that bringing kids to work is a problem but their kids actually run around the desks and near the other employees, becoming a distraction. Kind of funny that we're supposed to maintain a professional environment but I guess company policy does not apply to the partners.

    - The company does not realize that what they have of value is the employees. It is the employees, disillusioned as they may be, that make FXCM. How are they treated? With very low salaries.

    - Don't even think about asking for a raise because you probably won't get one. Not unless you threaten to quit, which should never have to be the case in the first place.

    - Interns get paid $10 an hour and will keep you an intern for as long as you don't bring up the topic of going full time. Start ruffling some feathers about going full time and you're met with a lot of resistance. And most of the time, they won't give you the full time position unless someone else from your team quits. Management are notoriously cheap.

    - The company's iPO might be doing well but I want you to understand that in order for the company to create some type of "profit" to appease the investors, they have to maintain this illusion by keeping salaries very low and cutting out things such as holiday parties and outings. Things that keep morale high.

    - After Hurricane Sandy, FXCM decided to not have a holiday party citing "costs" brought upon by the hurricane. Funny thing is that they received federal aid through FEMA. So of course the excuse that FXCM gave was bull****. It is just another plot devised by FXCM to not spend any money on its employees.

    - MICROMANAGEMENT is really bad here. Everyone and their dogs like to make decisions that honestly, should not be made by them because they lack the expertise. But because they are managers, they think they know what's best. I'm not going to make a decision about something that I have no knowledge of. Trust the experts in their fields!

    - Lack of communication throughout all parties. Not everyone is on the same page because management likes to exclude people from what's going on with projects. This makes it very hard to know what initiative we're undertaking as a whole department.

    - Brown nosing. If you want to make it to the top, then you will have to suck up. It is unfortunate because there are many talented individuals at FXCM who don't reach the top by their own merit which is how it should be. Rather, you get to the top by how much butt kissing you do. Gloss your lips and pucker them up!

    - Company morale is extremely low. If you were to walk in into our offices, it's like a sea of zombies. People just trying to get by and do what is asked of them rather than having the enthusiasm to make a difference. Blame it on the employees? No. Blame it on management. Management have their heads so far up their asses, they cannot see things for what they really are.

    - FXCM actually tells people to write dishonest great reviews on this website. Can you believe that? Management is actually aware of all the negative reviews here and rather than take the negatives and improve on them, they tell employees to essentially bull**** on here. If that doesn't discourage you from working here, I don't know what will.

    - Employees are becoming more aware of how bad the situation is at FXCM and are leaving at an astonishing high rate. The turn over is really high. Departments are smaller than what they used to be about 3 years ago. Of course, this is great for the partners who have to spend less on salaries. But the work load gets heaved by the employees who are still here. They work more but still get paid the same amount.

    Advice to ManagementAdvice

    Listen to your employees and have some respect for them! Stop taking advantage of them because they're the ones who are making you rich. Karma will come to bite you.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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