FXCM Reviews | Glassdoor

FXCM Reviews

Updated April 25, 2017
198 reviews

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198 Employee Reviews

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Pros
  • Everyone was laid back and nice to talk to and you can learn a lot here as a fresher (in 10 reviews)

  • reasonable hours, casual work environment (in 15 reviews)

Cons
  • most people not part of "the group" are unhappy and try to leave which results in high turnover (in 9 reviews)

  • unreasonable request from senior management (in 8 reviews)

More Pros and Cons

  1. "Good working environment, excellent office and view"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Public Relations Associate in New York, NY
    Current Employee - Public Relations Associate in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Flexibility, trust, smart colleagues, sport activities after work

    Cons

    Low Salaries, slow mobility to advance to higher positions

    Advice to Management

    More professional development and better salaries based on people's experience and education


  2. "Great learning opportunity, lacking in compensation"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Specialist in Plano, TX
    Current Employee - Operations Specialist in Plano, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    -Great management (very knowledgable)
    -Co. is top of industry
    -flat org
    -strong strategic planning
    -great learning opportunity for industry (FX) and specific business field (ops, sales, marketing, compliance, etc)
    -productive workforce
    -diverse workforce
    -international for a relatively small company

    Cons

    -lack of leadership (managers are great at managing but have limited leadership skills)
    -lack of company culture (work environment is like the stereotypical office)
    -lacking in compensation: relatively low pay and ok benefits

    Advice to Management

    develop a company culture and invest in your employees (develop internally). Strategically in an external sense, FXCM has done so great.


  3. Helpful (3)

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

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

    I have been working at FXCM full-time (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 Management

    - 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.


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  5. Helpful (2)

    "FXCM isn't a perfect company, it's tough, you'll grow a lot and its a great place to start"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Dallas, TX
    Former Employee - Financial Service Representative in Dallas, TX
    Recommends
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    **Great coworkers - its the best part of the job. If you're in FSR, you'll be apart of a great team that works well together
    **Welcoming HR team - Asha in Dallas makes the the company look really good to potential candidates
    **Pay is actually pretty good relative to other FSR entry level jobs. However you earn every penny of it for how stressful it can be. Despite the the "cons" listed in some of the other reviews regarding pay - this company pays you in experience where it may not in salary.
    **Great mentors - my boss (mid level manager) was great to work with and definitely helped make me a better professional. I can't say that about my other bosses that I've had in the past - nor can I comment on other departments in this company.

    Cons

    **Insanely tough metrics especially with the current market conditions and low volatility
    **High burnout rate - its stressful, its fast paced, and you will deal with some very difficult clients
    **The coffee in the break room is God awful, nearly tortuous. Bring your own coffee.
    **Computers belong in a museum, your iphone is faster than these things.

    Advice to Management

    Upper level management - Interact with your employees more, be friendly, pretend like you're glad we're busting our butts for you - Don't forget how stressful the job can be.

    Mid level - you guys do a good job, just keep in mind you're the bridge between the lower guys to the upper lever of management. Be able to occasionally vouch for the guys lower than you because they'll definitely be there to make you look good when it counts.


  6. Helpful (3)

    "Great first time experience. Learned a lot about forex."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Relationship Manager in Plano, TX
    Former Employee - Senior Relationship Manager in Plano, TX
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at FXCM full-time (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.


  7. Helpful (4)

    "Questionable Practices"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Tech Support in New York, NY
    Former Employee - Tech Support in New York, NY
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at FXCM full-time (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 Management

    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.


  8. Helpful (1)

    "Fast paced work environment, good management."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Plano, TX
    Current Employee - Financial Services Representative in Plano, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at FXCM full-time (Less than a year)

    Pros

    Working for FXCM has been a good experience. Management is very competent and accessible. The company is full of respectable and impressive people. Keeping an eye on the forex market and knowing about trading is necessary.

    This job provides exposure and opportunities that will prove especially valuable if the FX Market continues to grow in popularity.

    Cons

    The job is very fast paced and can be a grind. The upside to this is that anyone in this position will learn a lot, quickly.


  9. Helpful (5)

    "Very good time with the company! Great 5 years"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - FX Sales Broker in New York, NY
    Former Employee - FX Sales Broker in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at FXCM full-time (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 Management

    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.

    FXCM Response

    Dec 11, 2013 – Human 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


  10. Helpful (4)

    "Micro-managed underpaid sweatshop."

    Star Star Star Star Star
    • 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


  11. Helpful (2)

    "Great Learning Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at FXCM full-time (More than 5 years)

    Pros

    Opportunity to learn if you demonstrate intelligence to the right people. If you're interested in making a lateral move to another department there's always an opportunity to do so if you do good work and get good reviews from your managers. For those who are strategic and forward-thinking there are many leadership opportunities within the firm. Most managers are relatively young.

    Cons

    If you get stuck with a manager that doesn't recognize your talent, you may have reached a dead end.

    Pay is lower than other firms of similar size, but it has started to narrow the gap in some departments.


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