FXCM

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FXCM Reviews

Updated August 20, 2014
Updated August 20, 2014
120 Reviews

2.9
120 Reviews
Rating Trends

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FXCM CEO and Director Drew Niv
Drew Niv
67 Ratings

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

Employee Reviews

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  1. 7 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

    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
  2. 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

    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
  3. 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

    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
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  5. 6 people found this helpful  

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

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

    *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!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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

  6. 4 people found this helpful  

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

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

    Lets 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

  7. 6 people found this helpful  

    An extremely Dysfunctional and Disillusioned organization.

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

    Pros

    There 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 ManagementAdvice

    The 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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

  8. 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

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

    Pros

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

    Cons

    The 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 ManagementAdvice

    value your employees you cant possibly think you can be a admired company by treating your employees like you do

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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

  9. 7 people found this helpful  

    beware

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

    Pros

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

    Cons

    wow, 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 ManagementAdvice

    The 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.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Keep Jobs in America

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

    Pros

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

    Cons

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

    Advice to ManagementAdvice

    Higher 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 5 people found this helpful  

    Okay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Operations Associate  in  Dallas, TX
    Former Employee - Operations Associate in Dallas, TX

    Pros

    I 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.

    Cons

    Salary 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 ManagementAdvice

    Place 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.

    Doesn't Recommend
    Disapproves of CEO

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