FXCM

  www.fxcm.com
  www.fxcm.com

FXCM Reviews

Updated December 10, 2014
Updated December 10, 2014
130 Reviews
3.1
130 Reviews
Rating Trends

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FXCM CEO and Director Drew Niv
Drew Niv
72 Ratings

Review Highlights

Pros
  • good place to start if you are new to the industry and market (in 9 reviews)

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


Cons
  • The company is corrupt, especially on the upper management level; lacks ethics and integrity; (in 8 reviews)

  • High turnover, poor handling of bad staffing choices (in 7 reviews)

More Highlights

Employee Reviews

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  1. 2 people found this helpful  

    good place to start, not a place you want to invest your career

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM

    Pros

    good place to start if you are new to the industry and market.

    Cons

    everything else besides the pro.
    place with no future.
    no compensation.
    hard work does not pay off at this company.
    you are basically working to pay off the salaries of upper management.
    family owned company, nothing pays off to the employees
    high turnover.

    Advice to ManagementAdvice

    human resources need to work with the upper management in providing a better working condition and satisfaction of employees.

    you should start compensating your employees for what they deserve if you want to seek long term for the company. infrastructure is the most important.

  2.  

    Want to chat online for hours a day, everyday for hours? then sign up here.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)
    Former Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)

    I worked at FXCM full-time (less than an year)

    Pros

    It was good starting at the same time as other new joiners so we could support each other, it was not helpful after a few months when they all resigned.

    Cons

    The job is advertised as a Financial Services Representative, but it should be renamed Online Internet Chat Specialist. They had 10+ people leave the position within the last year. The office is really short staffed compared to other offices, the current FSR staff are depressed. There is a very small team of 3 or 4 and 2 team leaders, you do the math.
    They got some sort of operational "support" in Jerusalem who do not really provide much assistance, usually just to cause fight and friction instead of getting the job done.

    Advice to ManagementAdvice

    Whatever you are doing with this office, it isnt working. If you have a look at these glassdoor reviews you should read them, take note and act or you are in total and complete denial about your own ineffectiveness and failures.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Horrible Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)
    Current Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)

    I have been working at FXCM full-time (less than an year)

    Pros

    Nice and friendly coworkers; good friends

    Cons

    Where to begin...
    -Serious lack of leadership from upper management;
    - Ridiculous micro-management (There are these awful goal check-ins every other day, just to make sure these so-called vice presidents look important);
    -Many, if not all, of these vice presidents do not even have an advanced degree, in fact, their undergraduate degrees are substandard at best;
    -At any other company or organization, these vice presidents will be laughed out of the building due to their lack of any real advanced education;
    -Bathroom breaks must be cleared by a Team Lead or Manager and there are times when they are denied!;
    -Instead of concentrating on these time wasting goal check-ins, the vice presidents should be more concerned about the serious turn over;
    -While we were told that the employees may get a free trip to a different office to bring up morale, it is quite evident that due to this employee turn over, this trip will not take place - another management half truth;
    - Employees get yelled at on the floor.

    Advice to ManagementAdvice

    -Stop the micro managing;
    -Hire and/ or educate upper management at quality universities (being home-grown has limitations);
    -Explain our goal matrix!! We are told to hit these numbers, yet no one tells us how these numbers work.

    Doesn't Recommend
    Disapproves of CEO

    FXCM Response

    Dec 3, 2013Human Resources

    Thank you for your feedback. FXCM strives to ensure a positive work environment for all of its employees and takes your constructive criticism very seriously. That said, we would like to address a ... More

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  5.  

    Terrible place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)
    Former Employee - Financial Service Representative in Tel Aviv-Yafo (Israel)

    I worked at FXCM full-time (less than an year)

    Pros

    Friendly, hardworking and intelligent colleagues.

    Cons

    Live chat support.
    Micro management
    Senior management check ins every 3 days at times.
    Serious lack of operational support from our back office at crucial times when dealing front line with clients.
    High turn around of staff.
    Atrocious salary.

    Advice to ManagementAdvice

    Enough with the micro management.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    FXCM Response

    Nov 26, 2013Human Resources

    Thank you for your feedback regarding your position at FXCM. We’re sorry to see that you would not recommend this company to a friend and your one star rating.

    We would like to address a few of
    ... More

  6. 3 people found this helpful  

    Micro-managed underpaid sweatshop.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in New York, NY
    Former Employee - Financial Service Representative in New York, NY

    I worked at FXCM full-time (more than an year)

    Pros

    Listed comany, does look good on resume.
    You do learn a lot about trading Forex.
    Colleagues are nice.

    Cons

    Being abused by clients but they are always right.
    Things can change within days, new systems and products to learn, clients want immediate answers to everything and RIGHT NOW, management call this 'dynamic and fast moving', in reality its a mess but an FSR is the first port of call and they are all deemed as the experts.
    Live chat support, hours and hours a day, everyday on live chat. If a client is angry or leaves bad chat feedback, you have to call that angry client and see what else can be done for them and get more abuse.
    Supporting clients that have no clue how to trade and we shouldnt even onboard them.
    Micromanagement, even a bathroom break has to be cleared by a team leader. Management want to know what you are doing all the time.
    Pointless metrics and goals.
    Personal opinions from colleagues used against you in the quarterly review.
    Your job is most likely being outsourced over to the middle east.

    Advice to ManagementAdvice

    Back off a little, the role of an FSR can be very stressful. A little less of the micro management and advising on matters that you have never really dealt with ever before or ever will. Dont they have important 'management' things to do rather than care so much what the 'bottom feeders' whom they have never met before are doing? Try and not hire your family members as senior management, hire externally. I've never seen anything like it before and I hope I never will again.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    FXCM Response

    Oct 21, 2013Human Resources

    Thank you for your feedback. We regret to receive 1 out of 5 stars and an overall outlook of “not the place to be.”

    We agree with you in that there is a lot to learn in this position and that
    ... More

  7. 2 people found this helpful  

    Not recommended, unless you are desperate for experience

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

    I worked at FXCM full-time (more than 3 years)

    Pros

    Easy to get an entry-level position, which can help to move forward in the industry

    Cons

    Punitive work environment. Employees have been yelled at on the floor by managers. Unrealistic productivity goals without adequate focus on quality of work. Management is like a highschool clique.

    Advice to ManagementAdvice

    Hire external, experienced managers.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 4 people found this helpful  

    Not the place to be

    • 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

    The office has a nice view.

    Cons

    Too many to list, just marking my time.

    Advice to ManagementAdvice

    Listen to your employees and put qualified people in senior roles

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 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
  10. 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
  11. 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

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