FXCM
2.9 of 5 106 reviews
www.fxcm.com New York, NY 500 to 999 Employees

FXCM Reviews

Updated Apr 15, 2014
All Employees Current Employees Only

2.9 106 reviews

                             

44% Approve of the CEO

FXCM CEO and Director Drew Niv

Drew Niv

(57 ratings)

47% of employees recommend this company to a friend
106 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "Good place to start, you can gain valuable experience"
    in 7 reviews
  • "Opportunity to learn if you demonstrate intelligence to the right people"
    in 7 reviews
Cons:
  • "High turnover and lack of stability"
    in 5 reviews
  • "The company is corrupt, especially on the upper management level; lacks ethics and integrity;"
    in 5 reviews
  • Show more review highlights

Reviews

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1 person found this helpful  

decent internship experience!

Intern (Current Employee)
New York, NY

I have been working at FXCM

Prosnot a particularly difficult job, was able to integrate well with school and other personal activities, also provided me with some good experience

Consweak pay, not typical recruitment process, dont give offers with other banks that make it a little challenging to find a job

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2 people found this helpful  

The land of dictatorship

Anonymous Employee (Current Employee)
New York, NY

I have been working at FXCM

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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3 people found this helpful  

Interesting

Operations Specialist (Former Employee)
Plano, TX

I worked at FXCM

ProsIt's a very diverse, new-age company with several international locations to visit and work. The salary is also very good. The opportunity to travel is awesome.

ConsThe management team contained some members that were not fair/approachable and the company has mandatory late night hours that sometimes cannot be avoided which is not acceptable when you have family.

Advice to Senior ManagementMake sure the management team in place listens to the employees/tries to help more instead of giving random 'errors' or offer ways to improve.

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4 people found this helpful  

Do not work here. It is a terrible organization!

Compliance (Current Employee)
New York, NY

I have been working at FXCM

ProsThere is great potential learning opportunity working here.

ConsMy manager does not respect his subordinates or appreciate what they do. He looks down on them and criticizes them more than anything else. He is very intimidating and unapproachable. They do not offer any employee development/ growth support or help for you. Instead everyone is left by themself and its a very dog eat dog world. Promotions came to those who are most liked and favored. Hard work, motivation and ambition is not properly rewarded and often overlooked if you aren't one of the "favorites." Starting compensation is terrible! It can get better if you stick it out and get promoted but this isn't the right way to attract and keep talent. Also no one keeps their word at this place and you can't trust anyone from HR to management. Do not work at this place if you can help it! There is a reason why their turnover rate is so high.

Advice to Senior ManagementPurge middle management and get rid of arrogant, unapproachable managers. Criticism and intimidation is not way the encourage and develop employees. Learn how to treat your employees better.

No, I would not recommend this company to a friend

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2 people found this helpful  

Great Learning Experience in a Fast-Growing/Stable Company

Anonymous Employee (Current Employee)
Dallas, TX

I have been working at FXCM

Pros- Great autonomy in your position
- Good work-life balance in most departments
- Flexible schedules
- Friendly, energetic and driven staff
- Opportunity for upward and internal mobility
- Generous pay increases and bonuses
- Reasonable expectation of company's continued stability

Cons- Lack of transparency from corporate management to branch locations
- In some instances, lack of communication between departments
- Egos from mid-level management due to inflated titles and promoting the wrong people
- For some positions, very low starting salaries (although, refer to Pros, generous increases)
- Inconsistency in rewards between departments

Advice to Senior ManagementBe more open with your employees in locations outside of New York. Communicate more frequently with employees and visit the other offices. Many employees have never met executive management and this creates general distrust to managment and makes them feel undervalued. Seek to show that you value to your non-sales employees.

No, I would not recommend this company to a friend

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2 people found this helpful  

Good company to begin your career in, but not to stay for the long run.

Market Specialist (Former Employee)
New York, NY

I worked at FXCM

ProsAbility to learn different aspects and share knowledge to build your portfolio of knowledge.

ConsNeeds better upper management across most departments.

Advice to Senior ManagementManagement needs to be chosen not by how long they have been there, but for all aspects of knowledge and willingness to listen to others, be a team player. Promotions because you are someone's family or friend is the worst idea. People see right through that, and wont appreciate it.

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3 people found this helpful  

Incompetence at the management level is prevalent.

Anonymous Employee (Former Employee)
Plano, TX

I worked at FXCM

ProsGood benefits (Blue Cross Blue Shield)

ConsManagement consists of poor communicators at all levels (team leads, vice-presidents & managing directors) and therefore creates a dysfunctional work environment. Information regarding major updates to client accounts are poorly disseminated and sharing of information or knowledge between departments is equally poor. Literate and well spoken associates in operations are few and far between which is subsequently highlighted in the individuals who become promoted. Understandably since most of the programs within the company are proprietary it is not necessary for an individual to hold the highest education level; however the poor grammar skills reveal themselves once clients are contacted either in email or over the phone.

Advice to Senior ManagementI realize much of the poor choices in management are part of a small firms growing pains. Individuals who started with the company early on were promoted despite certain major flaws due to their timing with the company. Hopefully communication, hiring practices and promotion opportunities for individuals will be greatly improved in the future.

No, I would not recommend this company to a friend

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fxcm as a place to work

Anonymous Employee (Current Employee)
New York, NY

I have been working at FXCM

Prosentrepreneurial environment and fast company growth

Conschaotic environment and overworked staff

Advice to Senior Managementshould promote more work life balance

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2 people found this helpful  

Burn and churn

Marketing, Product Launch (Former Employee)
New York, NY

I worked at FXCM

ProsGood health insurance. Exposure and experience to different facets of business.

ConsCompensation is absolutely much to low for the amount of work people are doing for this firm. If you look at compensation alone do not apply to this company. Unfortunately, I was very green when I was right of college and accepted the offer because it was my first financial firm to work for. Almost 5 years later I am still complaining. So beware of getting over worked and WAY WAY underpaid.

Communication between management and employees. Poor morale in the office. Everyone is a drone on their computer and forgot what it is like to be human. In addition work space is very cramped. There is no place to move around and therefore you are confined to your desk that you most likely share with someone. For example if you want to talk to a fellow co-worker who sits closely next to you most times they have head phones on and you will have to resort to an IM conversation instead of speaking out loud to that person. People are more comfortable behind their computer screens than to be a real person and actually communicate. This all stems down from the CEO. If I saw him in the hallway and said hi it was the most awkward of situations. He is a poor leader and unfortunately that trickles down throughout the firm.

Advice to Senior ManagementStart investing in your employees. Provide them the proper compensation and bonus that they deserve instead of being a burn and churn company. You have to think long term instead of how much money you can squeeze out of everyone so they get tired, have a bad attitude about work and eventually leave.

No, I would not recommend this company to a friend

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Good place to learn and take skills to a firm that will pay more.

Marketing Project Manager (Former Employee)
New York, NY

I worked at FXCM

ProsGood place to grow, learn and try new roles to take elsewhere. Good health benefits.

ConsPoor internal communication, most departments never interact. Ruled by CEO dictatorship, upper management is at the mercy of the CEO for compensation decisions and promotions. College grads promoted to managers with no experience. Most managers want the title of manager but don't want to actually manage employee's. Overhead manager tell new hire, "don't smile, you laugh too much, no one will take you serious". Reluctant to spend money on any resources. Employee's are overworked with some doing three full time jobs, compensation is terrible for a Financial Services firm. Most Wall Street firms want to retain talent with compensation, FXCM just wants them to leave when they get fed up not getting adequate bonus or raises.

Advice to Senior ManagementCEO needs to let go and have faith in upper management to make decisions.

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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