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FXCM Reviews

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Brendan Callan
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26 Employee Reviews

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Pros
  • Smart people /peers, great ability to learn a lot for self-starter and advancement opportunities if you are willing to pursue them (in 10 reviews)

  • Flexible schedule, overtime when you want it, good work life balance (in 10 reviews)

Cons
  • most people not part of "the group" are unhappy and try to leave which results in high turnover (in 10 reviews)

  • work politics, favorites are played, training is not consistent, poor management (in 7 reviews)

More Pros and Cons

  1. "3 Strikes you're out. Worst job I've ever had."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at FXCM (More than a year)

    Pros

    You can use your personal and sick days whenever, no questions asked.

    Free parking.

    They have the tech to allow you to work from home (but only upper management can use it whenever they want).

    Cons

    They do not match 401k.

    Pay is low.

    High turnover.

    Will have to work on holidays(except Christmas and New Years).

    Team leader unwilling to assist with daily workload, but is ready to write you up when you make a mistake.

    Considered a burden if you ask to many questions to certain team leaders.

    If you make more than 2 mistakes in a month you're put on probation. If within the year you make unrelated errors, you're out. ( Three strikes your out applies here).

    They expect you to run a marathon, when you've never trained for a mile run.

    Advice to Management

    If you have people willing to do the work, let them. Putting quotas on your employees, stresses them out and does not make a good working environment.


  2. Helpful (5)

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

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

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

    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.

  3. Helpful (3)

    "good place to start, not a place you want to invest your career"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    good place to start if you are new to the industry and market.

    Cons

    everything else besides the pro.
    place with no future.
    no compensation.
    hard work does not pay off at this company.
    you are basically working to pay off the salaries of upper management.
    family owned company, nothing pays off to the employees
    high turnover.

    Advice to Management

    human resources need to work with the upper management in providing a better working condition and satisfaction of employees.

    you should start compensating your employees for what they deserve if you want to seek long term for the company. infrastructure is the most important.


  4. Helpful (4)

    "Micro-managed underpaid sweatshop."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in New York, NY
    Former Employee - Financial Service Representative in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at FXCM full-time (More than a year)

    Pros

    Listed comany, does look good on resume.
    You do learn a lot about trading Forex.
    Colleagues are nice.

    Cons

    Being abused by clients but they are always right.
    Things can change within days, new systems and products to learn, clients want immediate answers to everything and RIGHT NOW, management call this 'dynamic and fast moving', in reality its a mess but an FSR is the first port of call and they are all deemed as the experts.
    Live chat support, hours and hours a day, everyday on live chat. If a client is angry or leaves bad chat feedback, you have to call that angry client and see what else can be done for them and get more abuse.
    Supporting clients that have no clue how to trade and we shouldnt even onboard them.
    Micromanagement, even a bathroom break has to be cleared by a team leader. Management want to know what you are doing all the time.
    Pointless metrics and goals.
    Personal opinions from colleagues used against you in the quarterly review.
    Your job is most likely being outsourced over to the middle east.

    Advice to Management

    Back off a little, the role of an FSR can be very stressful. A little less of the micro management and advising on matters that you have never really dealt with ever before or ever will. Dont they have important 'management' things to do rather than care so much what the 'bottom feeders' whom they have never met before are doing? Try and not hire your family members as senior management, hire externally. I've never seen anything like it before and I hope I never will again.

    FXCM Response

    Oct 21, 2013 – Human Resources

    Thank you for your feedback. We regret to receive 1 out of 5 stars and an overall outlook of “not the place to be.”

    We agree with you in that there is a lot to learn in this position and that... More


  5. Helpful (5)

    "Not the place to be"

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

    I have been working at FXCM full-time

    Pros

    The office has a nice view.

    Cons

    Too many to list, just marking my time.

    Advice to Management

    Listen to your employees and put qualified people in senior roles


  6. Helpful (8)

    "Very Unprofessional Environment with Unbelievable Micromanagement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Disgruntled Employee in New York, NY
    Current Employee - Disgruntled Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    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 Management

    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.


  7. Helpful (6)

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

    StarStarStarStarStar
    • 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

    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 Management

    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!

  8. Helpful (6)

    "Total Unprofessional Employees Work Here"

    StarStarStarStarStar
    • 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

    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 Management

    Take some lessons in professionalism and respect.


  9. Helpful (7)

    "An extremely Dysfunctional and Disillusioned organization."

    StarStarStarStarStar
    • 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


  10. Helpful (5)

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

    StarStarStarStarStar
    • 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


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