FXCM

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

8 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 (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

127 Other Employee Reviews for FXCM (View Most Recent)

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  1. 6 people found this helpful  

    Total Unprofessional Employees Work Here

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

    I have been working at FXCM full-time

    Pros

    Nothing positive to say about this company or its employees

    Cons

    Contentious, arrogant and rude management. Would discourage anyone from doing business with this company. Is not truthful and like to disparage people.

    Advice to ManagementAdvice

    Take some lessons in professionalism and respect.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 5 people found this helpful  

    You will feel like you are back in high school...and NOT in a good way!!!

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

    I worked at FXCM

    Pros

    Some flexibility to work in different departments/ locations - employees are able to apply to/ change departments relatively easily and some also have the opportunity to travel/ transfer to different office locations.

    Cons

    Nepotism/ favoritism will determine your $/ promotions not how hard you work or your actual productivity.
    Salary VERY low for industry, dental & medical plans are mediocre at best, 401K here will NEVER be matched.
    Arrogant managers that are usually a few years out of college, they would barely be qualified to work at staff level positions at other companies.
    MD/VP level positions are allowed to laterally transfer to other departments so in many cases entry level staff has more knowledge of that area of business than their manager.
    Co-workers are miserable and act like zombies, most would not even speak to each other in breakrooms or elevator and live w/ their ipod headphones on - employee morale is non-existant!!!
    Very dog eat dog, no one here can be trusted, every employee out for themselves not a unified working environment.
    HUGE turnover in the past few months of long time employees (6+ years w/ company)
    The only employees who have any job security here are related to the partners...
    Disconnect between departments since they are managed by many different partners - feels like seperate businesses not a unified company.

    Advice to ManagementAdvice

    You once prided yourselves on being a "mom & pop/ family oriented" company, since the IPO that has ALL gone out the window, maybe focusing on those beliefs and realizing that your employees ARE your company will help resolve some of these issues - although most managers are too busy micromanaging to notice the bigger picture!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
There are newer employer reviews for FXCM

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