FXCM - Take a position at your own risk....Be careful before selecting this company as a long-term employer | Glassdoor
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Helpful (7)

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

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I worked at FXCM full-time (More than 5 years)

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 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!

FXCM Response

Mar 7, 2013 – Human 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

Other Employee Reviews for FXCM

  1. Helpful (7)

    "An extremely Dysfunctional and Disillusioned organization."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at FXCM full-time

    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 Management

    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.

    FXCM Response

    Mar 7, 2013 – Human 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


  2. Helpful (5)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    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 Management

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

    FXCM Response

    Mar 7, 2013 – Human 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

There are newer employer reviews for FXCM
There are newer employer reviews for FXCM

See Most Recent

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