FXCM Reviews

Updated September 16, 2014
Updated September 16, 2014
124 Reviews
3.1
124 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
FXCM CEO and Director Drew Niv
Drew Niv
69 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
  • High turnover, poor handling of bad staffing choices (in 7 reviews)

  • The company is corrupt, especially on the upper management level; lacks ethics and integrity; (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    It is very easy to get in to the company. The bar is not very high. Which is reflected in pay.

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

    I have been working at FXCM full-time for more than 5 years

    Pros

    - Easy environment.
    - Not much of a rush to get anything done.
    - The experience you have will really depends on the manager you get. Some are decent, others are not.

    Cons

    - If you're ambitious, this is a wrong place to be or it should be a stop along the way - very brief stop.
    - Management has been in place forever. 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.
    - Along the same chain of thought - politics is fostered in the company from the highest level. Managers fighting among each other about what they control and how they control it even if it is detrimental to the business or general operations. Example of this is: If something goes wrong, rather than fixing it, every email is dissected to find out who to blame among the many departments working on the project.
    - A lot of employees have recently described the company as a sinking ship. Bonuses are cut, no raises are given. Most of the fault for that goes to the partners who have not diversified the business. They keep thinking of acquiring other FX firms rather than branch in to other markets. This is what it seems to me as an employee of many years. I'm not privy to their future plans.
    - Quality of people is not high. No go-getters... people just going with the flow to earn a living. I'm among them.

    Advice to ManagementAdvice

    - Top management should start firing or laying off managers when politics is being used within the company. Although there will be a vacuum as to who fills those spots. No real leaders all around.
    - Keep an open mind and listen to bottom level employees. Don't just listen to managers you've appointed while back.
    - How is seniority a qualification or requirement for promotion? Wake up.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Financial Operations Associate

    • 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

    Good experience, very diverse and global company.

    Cons

    Limited growth and promotion opportunity.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. 1 person found this helpful  

    DailyFX Intern

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

    I worked at FXCM as an intern for more than a year

    Pros

    You'll learn a lot and the opportunity for exposure and hands on experience exceeds those top positions at big banks. You'll work with excellent analysts/strategists and learn all the while. The position is what you make out of it and if you love markets and are willing to learn, this is for you.

    Cons

    Poor management, vision, direction, execution. Not only limited to DailyFX, but also other departments. Seems CEO only want to be surrounded by yes men, but this comes at the cost of (1) progress (2) team moral and (3) turnover rates. CEO should hire good leaders instead who actually have a vision and will lead a team rather than be micromanaged.

    Recommends
    Neutral Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Great education, limited growth opportunities. Learn the business and leave in 2 years or less.

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

    I worked at FXCM full-time for more than 5 years

    Pros

    One of the best places to learn the foreign exchange market.

    Cons

    Terrible compensation unless you can leverage past experience to drive revenue in a short period of time.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  6. 2 people found this helpful  

    Great first time experience. Learned a lot about forex.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Relationship Manager  in  Plano, TX
    Former Employee - Senior Relationship Manager in Plano, TX

    I worked at FXCM full-time for more than a year

    Pros

    Great hands on work experience. So great people on the entry level who will work with you and support you.

    Cons

    Internal promotion of management leads to a cycle of nepotism and lack of quality management. Lack of possible growth in movement upward.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Questionable Practices

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

    I worked at FXCM full-time for more than a year

    Pros

    Having worked in the IT department i can say that the technology is impressive. The salary is fair but the health benefits are quite good and the employee contribution is very reasonable.

    Cons

    Having come from Fortune 500 companies i was quite unaccustomed to the rampant nepotism. There are so many people in positions that they are clearly not qualified for. One, however, must keep in mind that although it is a publicly traded company, almost all of the stock is owned by the founder and his family members so you essentailly have a pulicly traded family owned business.

    Advice to ManagementAdvice

    If anything, make any effort to promote people who work hard and demonstrate inititiative as opposed to the obligatory handing out of plums to the well connected.
    Stop advertising bonuses you have no intention of paying out.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  8.  

    Good entry level role

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

    I worked at FXCM full-time for more than a year

    Pros

    Lots of professional training, managers give guidance and quasar reviews, friendly people, team atmosphere.

    Cons

    Company does not appreciate its human capital, lack of growth opportunities outside management, compartmentalized departments.

    Advice to ManagementAdvice

    Figure out how to identify and appreciate your best employees and reward them financially.

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Great

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

    I worked at FXCM

    Pros

    People are amazing. this is a great place to work. I had so much fun. It was just awesome. I got to work on some great analytics projects that turned out to be very helpful

    Cons

    Environment, alot of people yelling, because it is forex i cannot believe how loud it was. People were in early because of time differences.

  10. 1 person found this helpful  

    Good Internship Experience

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

    I worked at FXCM as an intern for less than a year

    Pros

    Given substantial responsibility and learned a lot using the various platforms.

    Cons

    Compensation is a bit low.

    Recommends
    Neutral Outlook
    Approves of CEO
  11. 5 people found this helpful  

    Very good time with the company! Great 5 years

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

    I worked at FXCM full-time for more than 5 years

    Pros

    A lot of room for growing. Company is very flat. If you are a hard worker, at the end of the year you can expect between 10% to 15% increase of your salary. You learn a lot about the FX markets and platforms. The industry change very fast, so there is time to get bored. Everyday you learn something new.

    Cons

    Low starting salary. Departments do not seems sync with the overall company goals. Every department creates its own boundaries creating inefficiencies in the work flow and do not consider how that can impact the bottom line (The client). You have to know employees in every department if you want to get the things done.

    Advice to ManagementAdvice

    Cultivate the good talent. Do not only promote people because of loyalty. Loyalty is good, but if those loyal people do not have talent, they create bureaucracy and talented employees leaves the firm without telling you the reasons.

    Recommends
    Neutral Outlook
    Approves of CEO

    FXCM Response

    Dec 11, 2013Human Resources

    Thank you for your feedback. We are glad that you feel you had a great experience working at FXCM and would recommend our company to a friend as an employer of choice. We also appreciate the ... More

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