FXCM

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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)

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

    5 people found this helpful  

    You will feel like you are back in high school...and NOT in a good way!!!

    Anonymous Employee (Former Employee)

    ProsSome 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.

    ConsNepotism/ 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 Senior ManagementYou 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!

    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  

    Take a position at your own risk....Be careful before selecting this company as a long-term employer

    Anonymous Employee (Former Employee)

    Pros*A good place to learn some basics as a new college graduate;
    *If you were a quality student, you will likely have more experience than your manager;
    *Based on your department and manager, an opportunity to obtain information quickly over a short period of time prior to moving on to a more professional company;
    *There are some good people working for the company, very few, but some;
    *The medical and dental plans are okay, but you will never see matching 401K! Forget it!

    Cons*The company is corrupt, especially on the upper management level; lacks ethics and integrity;
    *The management staff lacks experience and does not have the opportunity to train with other professionals to know that their experience level is below average;
    *The inexperience trains the inexperienced, a combination that does not produce top talent that is competitive outside the company;
    *The culture and vision is poor, as nepotism is extremely, extremely, high....meaning, mostly all persons in top level positions are related to the partners, friends of the partners, possibly intimate with upper management, in the partner's religion group, or connected to the partners;
    *Over 90% of employees will never reach their true goals/potential while working for this company; if you accept a position, only remain for 1-2 years at max for resume purposes and move on to a company that will compensate you fairly, treat you fairly and respect you professionally;
    *The best advise, do not trust anyone in this company, not even legal, as there is no real camaraderie....whenever a company is corrupt from top down, you should only trust people as far as you can see them; as soon as your back is turned, your trust level should be at 0;

    Advice to Senior Management*In most cases, the management at FXCM are in denial and they have requested for employees to list positive feedback on this site; and they are in denial about the posts on Glassdoor, but from personal experience, almost 100% of the posts have some or all true statements....learn from the feedback, make improvements, and actually care about the employees working for your company. In most cases, upper management could care less about the people working for them, but remember, the people are the company, a company's greatest asset, and without them, FXCM is nothing!

    *In addition, to those that believe they are really upper level management (meaning not promoted by a family member), unless you take measures to inhance your career outside of FXCM, (ie. networking, outside training, upper level degree, etc.), your career path outside of FXCM will be very limited, as you are being fooled to think that you are actually VP's/MD's, while you are really, maybe, supervisors, managers, customer service supervisors, and in some cases, regular employees that need additional guidance. If anything, access yourselves and ask yourselves, did I really have enough experience/education to be in this role? In most cases, you will not be truthful because FXCM's management tend to be full arrogance and deceit, so maybe a true 360 assessment done by an outsourced company (someone not related/friends with the partners or employees) will allow you to gain a true insight.

    Advise to the employees....if you hear a little voice in your head telling you something is wrong, you cannot trust it, and you feel that you should start looking for another career/company...well, you are 6 months behind and should start looking immediately. This means that you have a conscious, ethics and values and FXCM is certainly not the company for a person that possess those characteristics!

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

    FXCM Response

    Mar 7, 2013Human Resources

    Thank you for taking the time to provide feedback on your experience working at FXCM. We greatly value the opportunity to utilize this information constructively so that we may capitalize on the ... More

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

    4 people found this helpful  

    Inevitable learning curve for the young management / firm, as result everybody below must suffer along

    Anonymous Employee (Current Employee) New York, NY

    Pros- if you are a good boy and can show competency, opportunities be opened to work across departments/roles of your interest

    Cons- unable to speak your mind and have some kind of satisfactory of candit conversation before a young manager shoot u down for erratic behavior
    - lower your expectations, there is already too many mouths to feed so don't expect a raise for increased responsibilities/expertise work, at least communication wise....i never get this!
    - throws around title promotions like its out of style, result: lower credibility of that title
    - micromanage practices: either a)management is not confident of the subordinate b)manager is arrogant and need to feel good about him self
    - both is true: a)if you are not confident why is that subordinate working there for 4 years already and still asking the same question b) I know you think u are not getting paid fairly because this is the first job you've had out of college and you are at senior management already
    - rather hires a stupid one than a smarter one to save on money i suppose, result: a chronic culture of feeling of injustice whereby standards always seem to come short, not just relative to perceived industry standards but specially within the departments and ranks
    - not much of a culture, low morale, and you wonder why! we all like to think that everyone could just get along. but the truth is professionally there is little room for those who don't meet the standards. hey it is a business right
    - so if you demand high standards and discipline, you will have hard time reconciling with yourself there
    - compensation is not just compared to industry, but also prominently compared within the firm and ranks. you have those get paid too much, and those not enough based on the work they do

    Advice to Senior ManagementLets look back at all the decisive changes made recently. Deliberate changes happen because the current form is not fitting, as you would agree. Your business model, no dealing desk, has not change that much overall. That leads to the presumtion that most changes made are for existing operating conditions. Lets keep working on those conditions.

    FXCM Response

    Mar 7, 2013HR Generalist

    Thank you for taking the time to provide feedback on your experience working at FXCM. We greatly value the opportunity to utilize this information constructively so that we may capitalize on the ... More

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    6 people found this helpful  

    An extremely Dysfunctional and Disillusioned organization.

    Anonymous Employee (Former Employee)

    ProsThere are no positives about working for this company. At one time they had an HR team that would try to help employees but since they fired the entire team and hired a replica of themselves, there is no reason to take a job with this company other than padding for your resume.

    Cons-Nepotism runs rampant in this company i.e. family members report to each other.
    -Promotions are based upon how much kissing up you choose to do.
    -Management team is inexperienced with no business skills other than what they learned from the partners. In other words...the blind leading the blind.
    -Management is through intimidation and threats of termination.
    -Ownership refuses to see that there are internal problems that start with the partners.
    -Management is out of touch with compensation (salary, bonus, benefits) in the industry. Starting salary for certain positions hasn't changed in years.
    -They want the "cream of the crop" but pay "bottom of the barrel" wages.

    Advice to Senior ManagementThe board members should remove the partners/senior management and replace them with competent and experienced professionals to lead the company so it can become successful.

    Help develop employees who actually have true management qualities and get rid of your "yes" men. Pay attention to the comments posted on Glassdoor and other sites that critique the company and try to address some of the points raised by your employees. You have overly inflated egos and don't want to believe there are problems with your company. If so many people are saying the same thing, everyone can't be wrong. Accept that your company is severely flawed and you need to take some measures to correct them.

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

    FXCM Response

    Mar 7, 2013Human Resources

    Thank you for taking the time to provide feedback on your experience working at FXCM. We greatly value the opportunity to utilize this information constructively so that we may capitalize on the ... More

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

    4 people found this helpful  

    Not a company you would want to work for ....you will be looking for a new job with in the year

    Anonymous Employee (Current Employee)

    Prosgood place to learn basic currency trading
    launch pad to better and more advanced FX companies

    ConsThe company is corrupt-- if you do your proper research you will discover it for yourself
    There is no company goals or team work basically its like a sweat shop " come to work do your job then go home"
    management is very untrustworthy and will yell at you for taking 31 minutes in your 30 minute lunch
    most employees are very unhappy there except if you are apart of the click or in crowd
    pay is very low, no 401k matching and long hours

    Advice to Senior Managementvalue your employees you cant possibly think you can be a admired company by treating your employees like you do

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

    FXCM Response

    Mar 7, 2013Human Resources

    Thank you for taking the time to provide feedback on your experience working at FXCM. We greatly value the opportunity to utilize this information constructively so that we may capitalize on the ... More

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

    2 people found this helpful  

    Keep Jobs in America

    Anonymous Employee (Former Employee) Plano, TX

    ProsVariety of hours available. Met some life long friends there.

    ConsLow pay, management team is inexperienced, laid off to send my job over seas, micro-managers, people are treated as numbers not humans.

    Advice to Senior ManagementHigher positions should work their way up not just get a position bc of seniority. Many of upper management didn't know how to do the job they were supervising for. Don't micro-manage, trust the people that have been hired.

    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

    7 people found this helpful  

    beware

    NA! (Current Employee) New York, NY

    Prosyou will learn the basics of financial markets, multi task, basic sales skills

    Conswow, where do I begin
    1. 40k/year with "quarterly bonuses"...you can't live on that if you're in New York or San Francisco.
    (I put quarterly bonuses in quotes because management did everything they could to keep any employee from getting any kind of decent bonus. I could have got more donating plasma for a quarter)

    2. The minute they found out that the company had terrible reviews on glassdoor, we had a meeting with the head of the department. This person asked us to go onto Glassdoor and give FXCM a "great" rating. If you go through some of the comments you can totally tell which ones were fabricated.

    3. If you take anymore than 20 minutes for lunch, you get the stink eye from every manager within 10 feet of you.

    4. The head of our department has never been on the phones before, and yet this person is the head of the department...your head should be exploding right now.

    5. They say you can advance within 2 years of solid service, but the problem is that they can't keep people...over 60% turnover in the department I'm in.

    6. So much micro managing...

    7. They say its about "Meritocracy" i call it meritocrazy....you have to play the "game" if you want to get ahead....

    8. Company culture is non existent.

    Advice to Senior ManagementThe company big wigs seem very set on keeping the stock price as high as possible...well, if that's what you want, outsource the jobs to India or something.

    No, I would not recommend this company to a friend

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

    5 people found this helpful  

    Okay

    Operations Associate (Former Employee) Dallas, TX

    ProsI met some really great people here who have become lifelong friends. You receive great exposure to the financial markets and have the opportunity to learn about forex.

    ConsSalary is below average compared to most of the other companies in the same industry. There is low employee morale. There is no job security. The company is very bureaucratic and there is a high level of nepotism. Employees are hardly rewarded for successes, but are immediately reprimanded for even the smallest error. High turnover rate.

    Advice to Senior ManagementPlace more value on one of the most important assets of a company - its employees. Many good employees left on their own due to low morale.

    No, I would not recommend this company to a friend

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

    2 people found this helpful  

    Long time employee

    Anonymous Employee (Current Employee) New York, NY

    Pros1. The people around you are very intelligent. It is a pleasure working with a group of evry intelligent and capable people. Some managers are truly amazing.
    2. You learn the ins and outs of the FX industry.
    3. This job is a spring board to other jobs in the industry and within finance.
    4. Young people are promotoed often and you have the ability to learn a lot about management.
    5. If you have been at the company for a long time, no doubt your position may have changed 3-4 times so you have the opportunity to try out multiple roles.
    6. If you have been at the company for a while, you may have had the opportunity to work out of a different office/country/relocation option.
    7. Truly open door - you are free to speak to anyone - including the CEO.

    Cons1. As the company has grown, the close knot environment has vanished. Many people feel that they are just a number and the company may not always be loyal to them.
    2. Because many managers are very young - a few years out of college - their ability to manage is sometimes poor. Oftentimes you have very nitpicky goals that do not represent your work and your value to the firm.
    3. Salaries are not competitive within the financial industry.
    4. Things change very quickly - which can be a pro at times - but for the junior employee it can be very frustrating because benchmarks/requirements/standards are constantly changing. You are often told one thing but then judged on something completely different.
    5. Culture top down is to manage via negative reinforcement. They don't do this on purpose but because they are so ambitious and set such challenging goals, they are reticent to ever give positive feedback. It's always about what you can do better . WHile this works for some - this is not very encouraging for many employees.

    Advice to Senior ManagementFocus on your talent. Employees are the most important thing about a company.
    Hire outside management that have experience
    Standardize development/training procedure across the company.
    Maintanance is just as important as launches of new ideas/products

    Yes, I would recommend this company to a friend

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

    2 people found this helpful  

    Vice President

    Vice President (Former Employee) New York, NY

    ProsFXCM is a great spring board for your next career. Hard-working people are given the chance to prove themselves in rolls that are beyond their experience level.

    ConsEmployee churn is many departments is quite high. Because insiders are promoted to management and senior rolls, little outside talent is hired which would bring in valuable outside knowledge. People working at FXCM come to believe that the FXCM way is "normal".

    Advice to Senior ManagementThe industry is rapidly changing, but the business goals and directions seem to change far more quickly; staff are often directed to chase the newest "company changing" idea of the week.

    Yes, I would recommend this company to a friend

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