FXCM Employee Reviews about "upper management"

Updated Oct 18, 2020

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3.8
78%
Recommend to a Friend
95%
Approve of CEO
FXCM CEO Brendan Callan (no image)
Brendan Callan
49 Ratings
Pros
  • "friendly peers and good working environment(in 25 reviews)

  • "Great place to work at and learn the ropes(in 14 reviews)

  • Cons
  • "Low growth opportunity due to an over saturated upper management team is not very motivating(in 10 reviews)

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

  • More Pros and Cons
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    Reviews about "upper management"

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    1. 3.0
      Former Employee, more than 1 year

      Good office environment

      Oct 18, 2020 - Financial Service Representative (FSR) in Hong Kong
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Opportunity to learn the financial market.

      Cons

      Upper management should listen to their subordinates.

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    2. 1.0
      Former Employee, more than 8 years

      Working for FXCM

      Sep 30, 2017 - Operations Associate in Plano, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      After working there for years, if you kiss your upper management, forget your personal life and willing to dedicate every available minute to work overtime, they may send you to travel the world.

      Cons

      Extremely political. They promote some of the dumbest people, only because they kiss upper managers' behinds. Promotion has nothing to do with how smart you are. International offices only hire model like girls straight out of college and don't look at actually well-qualified candidates. You have to swallow a lot in order to be able to stay at your job here. Upper management as caught by the CFTC doing a lot of dishonest practices, playing against clients' interests, therefore the company can no longer do business in the United States. Well deserved, FXCM!

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      8 people found this review helpful
    3. 2.0
      Former Employee, more than 1 year

      There are a lot of people jumping ship....I wonder why?

      Oct 30, 2014 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Bolstered my ability in sales. Lower level management is very hands-on with their employees and knowledgeable about the FX market. They will work closely with you to develop your weaknesses and turn them into strengths. Overall, I think everyone here truly believes in this company and its ability to grow and outperform its competitors.

      Cons

      Increasing workload, while significantly decreasing employee compensation is not a recipe for success. It became very clear during my time with the company that the CEO's primary concern is the majority shareholders' stock price increasing, and has absolutely no regard for the bottom line employees not already vested in the company. While there were some highly talented and very committed employees in this company when I first started, they, as well as I, have all now left due to the above mentioned reason. This is quite disconcerting. Low growth opportunity due to an over saturated upper management team is not very motivating. Lastly, the company's culture needs a defibrillator, it has flat lined.

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      19 people found this review helpful
    4. 1.0
      Former Employee

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

      Sep 11, 2014 -  
      Recommend
      CEO Approval
      Business Outlook

      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.

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      3 people found this review helpful
    5. 2.0
      Current Employee, more than 5 years

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

      Jun 29, 2014 - Employee in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      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.

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      3 people found this review helpful
    6. 1.0
      Current Employee, less than 1 year

      Horrible Company

      Nov 28, 2013 - Financial Service Representative in Tel Aviv-Yafo
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice and friendly coworkers; good friends

      Cons

      Where to begin... -Serious lack of leadership from upper management; - Ridiculous micro-management (There are these awful goal check-ins every other day, just to make sure these so-called vice presidents look important); -Many, if not all, of these vice presidents do not even have an advanced degree, in fact, their undergraduate degrees are substandard at best; -At any other company or organization, these vice presidents will be laughed out of the building due to their lack of any real advanced education; -Bathroom breaks must be cleared by a Team Lead or Manager and there are times when they are denied!; -Instead of concentrating on these time wasting goal check-ins, the vice presidents should be more concerned about the serious turn over; -While we were told that the employees may get a free trip to a different office to bring up morale, it is quite evident that due to this employee turn over, this trip will not take place - another management half truth; - Employees get yelled at on the floor.

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      FXCM Response

      Human Resources

      Thank you for your feedback. FXCM strives to ensure a positive work environment for all of its employees and takes your constructive criticism very seriously. That said, we would like to address a few points made within this review. The “goal check-ins” take place once every two weeks with a manager or managers. These are done to ensure employees are on-track to do well each quarter, and are primarily for the direct benefit of the representative. The expectations of staff within the first year are high as there is much to learn; management takes ownership and pride in ensuring that each of their team members are successful and can exceed these expectations. Experience has shown us that providing regular assistance to staff is crucial in boosting the employee through the learning curve of being an entry-level employee in our industry. Management at FXCM come from a variety of experiential and educational backgrounds; it is this sort of diversity that makes FXCM such a dynamic and innovative company. In general, FXCM prides itself on promoting a culture based on merit and value, not solely on credentials on a resume/CV. That said, we do require that all management possess, at minimum, a bachelor’s degree from an accredited university. In addition, we ensure that our managers have gained adequate experience either through the ranks at FXCM or at other comparable financial firms. Higher education does not supersede or substitute experience and hard-work. Moreover, we are proud to have employees with degrees and experience from all backgrounds; our diversity is what makes FXCM great. FXCM has never required employees to ask for permission to take bathroom breaks nor do we condone an environment where employees are ‘yelled’ at or reprimanded publicly. If at any point you feel that this has been violated, you are advised to consult with Human Resources immediately. Management is very concerned with turnover in the Tel Aviv office specifically. In response to this turnover and feedback received from exiting employees, we have started sending Tel Aviv employees to other international offices for more exposure to other departments, cultures, work environments and management. It is very expensive to pay for international travel but we know it will be beneficial in developing high performers in our Tel Aviv office. Your review advises senior management to “explain the goal matrix.” In each bi-weekly coaching session, time is reserved for the employee to ask questions or obtain clarification on the goals presented. We suggest that you take advantage of this time in your next meeting. Being a current employee, we encourage you to reach out to Human Resources so that we may individually address the concerns you’ve raised above so that FXCM is a place for you to develop a lasting career. Thank you again for your feedback.

    7. 2.0
      Former Employee, 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;

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      5 people found this review helpful

      FXCM Response

      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 positive and work on areas that may need improvement. As a long-tenured former employee, we appreciate that you have much insight to offer and do take this review seriously. As your review identifies, FXCM offers a fast-paced learning environment that will enrich its employees to achieving a high level of skills more quickly than could be done elsewhere. Having founded the company in 1999 and grown so quickly in a short 14 years, FXCM provides its employees with the opportunity to grow with it. Employees gain international exposure, travel to offices overseas, interact with colleagues around the globe, and are able to directly impact the strategy of their team. The success of the company was built by the employees, and the camaraderie gained from a team-achieved success is bar none to larger, more bureaucratic firms. Our health insurance plan ensures that the employees and their families have a comprehensive plan protecting them where it is most needed. Our medical plan has no deductibles, inexpensive premiums and fully covers most medical events. This is one way that FXCM shows its employees that we care. Here are a few highlights of the efforts made in the past year to improve on areas mentioned in this review: • Instituted company-wide management training for recently promoted managers. This program ensures that our new management talent is qualified and prepared for the important role of leading a team. • Launched a Performance Management System, utilized globally, that is used to consistently measure employee performance, identify career-paths and reward fairly based on merit. • Implemented an aggressive talent acquisition strategy and competitive selection process to ensure that only the best and the brightest in the field are brought aboard. As we continue to identify ways we can improve as a growing firm, your individual feedback is vital. Again, thank you for providing his helpful information. Our goal is to assure that attention is paid to any areas of concern, and your feedback is being taken into careful consideration.

    8. 3.0
      Former Employee

      Good company to begin your career in, but not to stay for the long run.

      Apr 13, 2011 - Market Specialist in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Ability to learn different aspects and share knowledge to build your portfolio of knowledge.

      Cons

      Needs better upper management across most departments.

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      2 people found this review helpful
    9. 1.0
      Former Employee

      Good place to learn and take skills to a firm that will pay more.

      Nov 22, 2010 - Marketing Project Manager in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good place to grow, learn and try new roles to take elsewhere. Good health benefits.

      Cons

      Poor internal communication, most departments never interact. Ruled by CEO dictatorship, upper management is at the mercy of the CEO for compensation decisions and promotions. College grads promoted to managers with no experience. Most managers want the title of manager but don't want to actually manage employee's. Overhead manager tell new hire, "don't smile, you laugh too much, no one will take you serious". Reluctant to spend money on any resources. Employee's are overworked with some doing three full time jobs, compensation is terrible for a Financial Services firm. Most Wall Street firms want to retain talent with compensation, FXCM just wants them to leave when they get fed up not getting adequate bonus or raises.

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      1 person found this review helpful
    10. 2.0
      Current Employee

      great entry position

      Nov 8, 2009 - Senior Sales Associate 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      opportunity to learn about different financial markets, sales skills great place to improve your phone & communication skills adequate compensation for entry level positions

      Cons

      poor management, young and inexperienced once you become a top performer, compensation doesn't come into place could be very political among the upper management absolutely no growth opportunities after getting entitled of a "senior sales rep"

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      2 people found this review helpful
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