FXCM

  www.fxcm.com
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FXCM Reviews

Updated Jul 14, 2014
All Employees Current Employees Only

2.9 116 reviews

44% Approve of the CEO

FXCM CEO and Director Drew Niv

Drew Niv

(64 ratings)

45% of employees recommend this company to a friend

Review Highlights

Pros
  • You'll learn a lot and the opportunity for exposure and hands on experience exceeds those top positions at big banks(in 7 reviews)

  • Good place to start, you can gain valuable experience(in 7 reviews)


Cons
  • High turnover, poor handling of bad staffing choices(in 6 reviews)

  • The company is corrupt, especially on the upper management level; lacks ethics and integrity;(in 6 reviews)

116 Employee Reviews
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    4 people found this helpful  

    Not the place to be

    Anonymous Employee (Current Employee)

    ProsThe office has a nice view.

    ConsToo many to list, just marking my time.

    Advice to Senior ManagementListen to your employees and put qualified people in senior roles

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great job experience

    Financial Service Representative (Current Employee) Dallas, TX

    ProsNice people, competitive work environment

    ConsChat support, pay, requires overtime o really advance

    Advice to Senior ManagementWould like better pay

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    4 people found this helpful  

    Industry Leader w/Unlimited Potential | Career Opportunities In Finance - Challenging & Rewarding

    Sales (Current Employee)

    ProsMy thoughts on FXCM the business are extremely positive. Having worked with the firm for some time, I have been witness to significant change and steady growth over the past few years especially. I truly believe the firm is well positioned to continue performing strong and expanding both domestically and globally.

    In terms of the “sales role”, I will say that it is a solid career opportunity for the right person. I have seen success with sales here and can say without hesitation that I enjoy what I do. Having come from other “jobs” where this was not the case, I like to think I have found a career. I work in a fast-paced, self-driven, challenging sales environment that offers not only competition but camaraderie. My understanding of the financial markets and their infrastructure has increased tremendously in this role.

    Speaking from the sales perspective, the FXCM culture is to reward employees on performance and not for simply coming to work. This is a key benefit in my opinion. When it comes to compensation, the entry level salary is a bit low by industry standards, I guess. But, the average individual coming into the FX Sales position is going to have a steep learning curve to start – I can surely admit I did. With that said, increases to the annual salary and bonuses can be fairly generous, especially for top performers. This is where it comes down to work ethic and self-determination. Much of your day to day is self-managed and, as such, your potential and your future are in your hands. Having pushed myself over the years to expand my knowledge and understanding, I have been able to translate that into success in sales and this has been seen and rewarded.

    Overall, I say with confidence that I would recommend FXCM to a close friend or acquaintance. The pay is fair, benefits (medical, vacation, holiday, etc.) are excellent, and I feel confident in the firm’s future in the industry. I have interacted personally with the top senior management, including Drew Niv, CEO, and have the confidence in their ability to lead.

    ConsAs with any company, there are always some areas to improve. “Sales” is definitely a position where you are recognized on performance. Any successful sales person will be extremely driven to do all he/she can to surpass last quarter’s numbers. This does bring imbalance to work/life. While not easy to resolve, finding a way to bring more balance back into the picture so as to keep your top salespeople from burning out to quickly would be ideal.

    Flow of communication both from management and interdepartmental is not always consistent. As FXCM has grown at such a rapid pace, expanding into various jurisdictions/regions globally, these plans, policies and changes have not always been well communicated from other departments and management. This can lead to confusion and frustration within at times.

    Advice to Senior ManagementMy advice to all management would be fairly simple – stay in tune with what is happening day to day. This does not apply across the board, but there are instances where managers get involved in their own projects and roles that they lose track of the day to day operations and main objectives of their team’s core business objective. I simply suggest that management stay a bit more in touch with their team and interact with them regularly on the challenges they face. I am in no way suggesting an environment of “micro-management” but Laissez-Faire leadership is not ideal either. Feeding their team information about company initiatives and policy changes as well as sharing with other departments and management the themes and challenges that their teams are facing is what I would see as a key focus.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    Exciting, Growing and Ever-Adapting Environment (Great Jump-Start to a Financial Career)

    Anonymous Employee (Current Employee) Plano, TX

    Pros- As many reviews have already indicated this before, there is a high amount of growth you will experience here. FXCM is a fast-paced company with limitless potential. Its employees are given a high level of responsibility much quicker than could be expected at other, more bureaucratic financial firms.
    - The Partners and top executivies are very involved in the day to day and care about the employees. They know their staff, by name, and take the time to visit all of the offices. How many people can say at the associate level they individually met with the CEO and COO in one quarter? And for many, this is a weekly occurence.
    - You are working for and with very intelligent people, starting from the top. The CEO, Drew, is brilliant and the entire executive team are very savvy businesspeople. Just look at the astounding growth the company has experienced in the past 14 years. The first to go public in its industry, adapting to the industry and regulatory changes; incomparable to its competitors.
    - The product, education and service is the best in the industry; the business model is mutually beneficial to the client. You will work for the best firm in the FX market here.
    - The energy is high. Employees are excited about the product and company vision. In an ever-changing environment, there is something new everyday; definintely makes you want to come in to work everyday.
    - Entry base salary can lag the market, but this mirrors the performance-driven culture. Excellent performance is rewarded in the form of generous bonuses and annual increases. Raises tend to be from 8-15% for average to top performers. Definitely beats the standard 3% you will be stuck with anywhere else.
    - Medical plan is great; vitually full coverage on most events (no deductibles!). If you are healthy and participate in the wellness plan, you will pay only $50 a month for employee only. Can't beat that...

    Cons- Because of the fast-paced nature of the company, responsibility level is high, the company could work on bringing work-life balance to the employees.
    - The firm is still young and growing. Many managers were "home-grown" and could use some leadership development. Bringing in more experienced management from the outside will help bring perspective.
    - Again, the company is fast-growing. At sometimes staffing falls short of current needs due to a lack of forecasting in many areas. The firm could use to implement a talent strategy to avoid straining current resources... hence the work-life balance issue.

    Advice to Senior ManagementAs FXCM continues to undergo growth and change, continue to communicate and be transparent with your employees. Communication of the vision is the number one way to instill buy-in from your workforce. Top management should encourage trickle-down communication from middle management to the employees to ensure high morale and camaraderie.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    1 person found this helpful  

    Great Summer Internship

    Anonymous Employee (Current Employee)

    ProsLearned how to use a Bloomberg Terminal and work with a great team of market analysts

    ConsNone that I can think of

    3 people found this helpful  

    Operations Analyst Intern

    Operations Analyst Intern (Former Employee) Plano, TX

    ProsLaid 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

    ConsPay: 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 Senior ManagementBuild an Internship Program and then hire interns who want to work in operations or any department that you hire in.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    3 people found this helpful  

    Great career builder, fast paced enviornment"

    (Former Employee)

    ProsFast paced, continuous learning, great team members, challenging work, still feels like mom&pop although have seen some necessary changes. Understand that the culture might not work for everyone and you will ultimately need to decide if you fit the culture and not the other way around.

    ConsBetter training, upper managment feedback, address motivation issues, lack of structure.

    Advice to Senior ManagementOkay to be firm and tough but need to balance with encouragement and positivity as well. Important to connect to employees as they are the voice of the company.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    7 people found this helpful  

    Very Unprofessional Environment with Unbelievable Micromanagement

    Disgruntled Employee (Current Employee) New York, NY

    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 Senior ManagementListen 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.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    6 people found this helpful  

    Total Unprofessional Employees Work Here

    Anonymous Employee (Current Employee)

    ProsNothing positive to say about this company or its employees

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

    Advice to Senior ManagementTake some lessons in professionalism and respect.

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

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