FXCM Reviews

Updated 23 August 2014
Updated 23 August 2014
121 Reviews

2.9
121 Reviews
Rating Trends

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FXCM CEO and Director Drew Niv
Drew Niv
68 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.  

    brilliant and great place to work

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

    I worked at FXCM

    Pros

    great work life balance and great compensation

    Cons

    none so far and excellent company all round

  2.  

    Okay place to start out at, but not a good place for growth opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - FXCM sales  in  London, England
    Current Employee - FXCM sales in London, England

    I have been working at FXCM

    Pros

    good business model, relatively easy sell to customers
    good place to start on the financial markets
    an international work place

    Cons

    no benefits, no pension fund
    nepotism rules
    repetitive work
    management too interested by sometimes irrelevant stats
    too hierarchical
    not enough room is given for employees to improve themselves (e.g. education)
    no growth opportunities
    I agree to what someone else said on this website - the place is run like a high school (maybe even primary school)

    Advice to ManagementAdvice

    don't run the ship so tight; adopt better HR practices such as giving employees the chance to learn more; offer better and more ways to grow in the organisation, too.

    Doesn't Recommend
  3.  

    Wonderful Internship Opportunity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Intelligence Intern  in  Plano, TX (US)
    Current Employee - Business Intelligence Intern in Plano, TX (US)

    I have been working at FXCM as an intern for less than a year

    Pros

    1) very professional and supportive working environment
    2) gave a lot of opportunities for interns to practice
    3) The training is very strict but valuable

    Cons

    need to be a quick learner to get familiar to the forex market

    Advice to ManagementAdvice

    My supervisor is very supportive and patient. And she always provides great suggestions on my project

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Great Experience, Terrible Middle Management

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

    I worked at FXCM full-time for more than 3 years

    Pros

    + Great exposure to the forex industry.
    + Looks positive on your resume, can leverage experience
    + Small company, so you get personal face time with senior management and the executive team right away
    + Your peers are very friendly and do their best to make it a great place to work
    + Senior Management has put the company in a good position to succeed going forward. Every interaction I had with the executive team was positive. It's too bad that can't seem to filter down to the lower levels.

    Cons

    + Pay is well below industry average, especially after they eliminated the generous bonus structure. The Sales side of things seemed to be more on par with the industry average.
    + Middle management is awful, with no leadership in place. No feel for their employees and fail to get buy in.
    + Micromanagement - down to the number of bathroom breaks you take. This will come up in your quarterly evaluation.
    + Little to no real advancement opportunities within the United States, despite what they advertise to new employees. I hope you enjoy Bulgaria. Pretty much told to do your job and go home, no development.
    + Nepotism is rampant when promotions and bonuses become available. You are allowed to have an opinion... as long as it agrees with theirs. Don't speak out in opposition of something if you want to keep your promotion opportunities alive.
    + High employee turnover - indicative of the terrible management that occurs at the lowest levels.

    Advice to ManagementAdvice

    Get back to your roots and take care of your employees. If you want to have productive employees, then treat them like human beings. You are still a small company and should be able to have a great corporate culture, but you have managed to have all the cons of being a public company (red tape, nepotism, unhappy employees) without any of the public company benefits (higher compensation, etc.)

    You have lost a significant number of talented employees over the past two years. Each one of them that I have talked to since they left is much happier at their new company. I have never been around a group of lower-level employees that is more miserable than during my time at FXCM.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 2 people found this helpful  

    Interesting work

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

    I worked at FXCM full-time

    Pros

    Great coworkers
    Normal hours
    Workload was never crazy
    Interesting work

    Cons

    Shady business ethics / senior management

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Forgot What Made Them Great

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

    I worked at FXCM

    Pros

    Opportunities to learn different aspects of the forex market.
    Ability to gain many new skills just based on the nature of how each department works.

    Cons

    Pay is less than industry standard.
    Slowly outsourcing jobs to other countries.
    Wasteful spending that results in people getting fired to make the bottom line look good to investors.
    Promotions and job security based on cronyism and nepotism, if you don't fall into those 2 categories, you have to sacrifice your personal life and happiness before you see benefits (if they don't fire you first).
    Managers are clueless in how to develop people but remain in power because of the points listed above.

    Advice to ManagementAdvice

    Actually learn how to manage. You always say that things should change for the better but the management model seems to be exempt from that. Management doesn't seem able to see their own shortcomings and constantly assign their failures to other people under. This is the vicious cycle of FXCM.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    A good place to start your career but not really any room for advancement.

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

    I worked at FXCM

    Pros

    You will enjoy working with your colleagues on the same level as you. You will gain some great experience in the FX markets as well as with interacting with people on the phone.

    Cons

    Management is terrible. They do not value their employees at all. There is extremely little room for advancement within the firm and they are just fine with that, as they consider the majority of their employees to be a dime a dozen.

    Advice to ManagementAdvice

    If you want your employees to excel, show them you care about them. It will speak volumes for the company.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

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

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

    I have been working at FXCM full-time for 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 ManagementAdvice

    - 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative  in  Dallas, TX (US)
    Former Employee - Financial Service Representative in Dallas, TX (US)

    I worked at FXCM full-time for 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 ManagementAdvice

    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.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  11.  

    Financial Operations Associate

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

    I have been working at FXCM full-time

    Pros

    Good experience, very diverse and global company.

    Cons

    Limited growth and promotion opportunity.

    Recommends
    Neutral Outlook
    Approves of CEO

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