FXCM Reviews

Updated June 23, 2015
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3.1
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FXCM CEO and Director Drew Niv
Drew Niv
75 Ratings

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

  • You do learn a lot about trading Forex (in 7 reviews)

Cons
  • These few people who joined the company a while back have held the spot and control the information going to upper management to keep it that way (in 8 reviews)

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

More Pros and Cons

138 Employee Reviews

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  1. Sales

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

    I worked at FXCM

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Excellent vacation time and benefits areally good.

    Cons

    Bonuses are discretionary so no Guanrantee. Micro management is everyday life here.
    salary is not commiserate with responsibilities and required knowledge base.
    Bonus is for meeting qrtly goals. In no way are you compensate for the equity you bring in or accounts you bring in.
    Also, no matching 401k

    Advice to Management

    Raise salary/grant more autonomy/recognize success as well as failure.


  2. Good management

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

    I worked at FXCM

    Pros

    Some really top quality management members and some great sales people. Decent place to start a career in finance

    Cons

    Bonuses are discretionary which will lead the best sales people to move on

    Advice to Management

    Keep up the good work in the sales management areas.


  3. Great for first time experience, but high disappointment level

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

    I have been working at FXCM full-time (More than 3 years)

    Negative Outlook
    No opinion of CEO
    Negative Outlook
    No opinion of CEO

    Pros

    Great learning opportunties for young professionals fresh out of college. My experience included international work exposure and the possibility to be known in the forex trading community

    Cons

    1. Underpaid given educational training and experience
    2. Management (Marketing in my case) highly out of touch with their employees.
    3. Poor communication and coordination amongst teams.

    Advice to Management

    As an international company with higher ROI outside of the US, you need to look around a bit and realize that more resources need to be given to your overseas offices that generate more bang for the buck.


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  5. High Turnover; Low Moral; Unrealistic Goals

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

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

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Good location. Some good colleagues.

    Cons

    High staff turnover, changing priorities, lack of adequate tools and insufficient leadership. Emp-loyee contributions are not valued. Volume of work is unmanageable. Sr. management is not up to the task.

    Advice to Management

    Take a hard look at long-term senior management and truly assess if they are still in their position because of their loyalty to the firm and because you trust them, or because they have the qualifications and competencies needed to meet/exceed the requirements demanded of their responsibilities.


  6. The best of times, the worst of times.

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

    I worked at FXCM full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    You can get exposed to a lot of different areas of the business quickly. The level of responsibility you have over your work is quite high.

    Cons

    The level of expectation by senior management is not at all in line with salary. Senior management can be passive aggressive and childish. Mixed messages often sent to teams, leading to lack of vision and direction.

    Advice to Management

    Pick a direction, and stick with it. Adjust your expectations of employees to something realistic.


  7. Not a bad way to start

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Interesting, good work environment, flexible hours.

    Cons

    no communication between departments, some time long hours.


  8. Helpful (1)

    Active Trader Sales

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

    I have been working at FXCM full-time

    Recommends
    Negative Outlook
    Approves of CEO
    Recommends
    Negative Outlook
    Approves of CEO

    Pros

    - Sales Training
    - Responsibility
    - Bonus Compensation

    Cons

    Work Life Balance
    FXCM social benefits


  9. Helpful (5)

    Great flexibility and fair pay, lack of career advancement opportunity

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

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

    Recommends
    Negative Outlook
    Disapproves of CEO
    Recommends
    Negative Outlook
    Disapproves of CEO

    Pros

    The flexibility in one's schedule is unmatched. You have no set hours as to when you need to be there or when you can leave, so if you have kids this helps out a lot. You also have the ability to work from home, and depending on how good you are at your job you may be able to work from home consistently. The pay is great if you are close with the management but, if you aren't, then the pay is simply "fair". There is free coffee, tea, and hot chocolate and they provide the utensils, plates, and bowls to employees. As I was part of the IT staff, this particular group of people are young and easy-going and everyone (for the most part) gets along with each other which makes coming to work more enjoyable. And you get to work with different technologies for the most part, just don't expect any datacenter technologies.

    Cons

    FXCM doesn't match on their 401k. The company has taken a horrific nose-dive recently on the NYSE. If you aren't close with management (part of the cool kids' group) then there is no room for advancement in your career, regardless of whether or not you work your tail off or how much better you are than your peers. Some people in management are less mature than they should be and tend to verbally assault their team members when they make a mistake. Overall, IT is more reactive than proactive here, so be ready. While the work schedule is flexible, your Friday nights will belong to FXCM and possibly even your Saturdays and Sundays. Being on-call is mandatory, so be prepared for numerous occasions where you wake up in the middle of the night. And if you plan to take a company phone, be prepared that you are REQUIRED to answer a text/call regardless of what is going on in your life. Management tends to think they are "bleeding edge" but they are naive and ignorant here, as I'd say they are about 5 years behind other financials when it comes to technologies and having the intelligence to implement them.

    Advice to Management

    You are not elite, and you will be educated on that when you are forced to look for other employment after the company finishes tanking. And the days of getting drunk and high in the office and rarely showing up to work will, I ASSURE YOU, not be tolerated at any real company.


  10. Currency Analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - CURRECY ANALYST in Jersey, NC
    Former Employee - CURRECY ANALYST in Jersey, NC

    I worked at FXCM (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    - Hours were flexible and micro managing was limited.

    Cons

    There were little to non team building activities.


  11. Helpful (3)

    Compliance Associate

    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at FXCM

    Pros

    Interesting, challenging work, great team

    Cons

    high volatility, regulations constantly changing



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