FXCM

  www.fxcm.com
  www.fxcm.com

FXCM Reviews

Updated 18 November 2014
Updated 18 November 2014
128 Reviews
3.0
128 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
FXCM CEO and Director Drew Niv
Drew Niv
71 Ratings

Review Highlights

Pros
  • good place to start if you are new to the industry and market (in 9 reviews)

  • You'll learn a lot and the opportunity for exposure and hands on experience exceeds those top positions at big banks (in 7 reviews)


Cons
  • The company is corrupt, especially on the upper management level; lacks ethics and integrity; (in 7 reviews)

  • High turnover, poor handling of bad staffing choices (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 6 people found this helpful  

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

    • 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 (more than an year)

    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.

    Advice to ManagementAdvice

    Remember where you started in the company.

    Promising me a paycheck tomorrow doesn't help my paycheck today.

    If you ever read this feedback, please make some changes.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Not enough resources to retain talent

    • 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 (more than an year)

    Pros

    + Enjoyed the people I worked with
    + People had good work ethic
    + Networked and made good connections
    + When I started, there were top-performers who respected tremendously for their work ethic and ability to get results, and who I also learned a lot from professionally (most had left before I finally left)
    + Middle-management (Team Leaders, VPs) are generally good and competent (their lapses seem to be that they simply don't have enough resources to retain the talent needed although I have a hunch that C-levels are squeezing middle managers on purpose).
    + Learned more about financial markets than I could have through taking university courses.
    + Goals started off very quantifiable (although they have shifted to start being more qualitative, which makes it more difficult for resumes)

    Cons

    - Not enough opportunities for even top-performers to move up in a way that enhances their own income.
    - Compensation is far too low to compete with better offers at other companies. Instead of a raise I was told that the whole company was pausing on raises because of "market conditions" and I would get one as soon as possible. In under 2 years, my pay stayed the exact same at FXCM. When I left, overnight I got a 33% base pay raise and a much larger (and far more transparent) performance compensation plan.
    - For someone who enjoys being productive, you are asked to spend far too much time with people who (quite frankly) shouldn't even be trading and are probably better dropped as customers, rather than spending time with with whom the company will have mutually beneficial relationships.
    - Watch what people do, not what they say. Lots of promises about compensation that is "probably" coming in the future and the "potential" but very little was more than just talk. Even if the compensation matched the "talk" it still would have been lower than what high-performers can make elsewhere.
    - Sales and customer service seem to be merging into one unit.
    - Lacking resources for talent means that less effective people are hired, which means that management needs to micro-manage more in order to get results from these people (rather than hiring talent who can operate more-or-less autonomously). The type of management needed to get results from somebody who is talented is very different from the type of management needed to get results from somebody who is untalented. Middle management seems to be adjusting to dealing with untalented people (meaning more micro-management).
    - I enjoy being good at what I do and getting results - Skills that make me valuable and would make me effective and far more productive at most other companies were were beginning to atrophy and getting worse the longer I stayed.

    Advice to ManagementAdvice

    Simple advice to management to retain people in these positions would be to increase compensation, make bonuses (in the role a person is in and in other roles so that you can easily see what you 'could' be making) more transparent (the company easily has enough cash to keep talent).

    However, I think C-level management knows exactly what it is doing in regards to its internal employee strategy although I doubt they are transparent about this with mid-level managers (they seem to be under increased pressure to drive numbers higher using decreasing resources and support). Lower-level, customer-facing roles don't add to the bottom-line and upper management is unwilling (rightfully so, if these units don't add to the bottom-line) to give the resources needed to develop/keep talent here (why invest in resources/talent that you don't need?). Ultimately upper management behaves like the C-level goal is to weed out most of the lower tiers and lower management levels. I actually have no problem with this strategy (creating a stagnant work environment with low pay) from their perspective, it just isn't necessarily a place where I want to invest my time and talent when I can get more somewhere else.

    I think the company will continue to perform strongly for upper management and stockholders and will continue to be at the top of the industry. I also have no doubt that the company's success would have meant nothing to me monetarily.

    My advice to anyone looking to work here is to immediately contact recruiters to have them start looking for a next position for you. It's not a bad place if you can leverage your results here to get more money somewhere else (not hard).

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    Average

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Retail Intern in San Francisco, CA (US)
    Former Employee - Retail Intern in San Francisco, CA (US)

    I worked at FXCM as an intern (less than an year)

    Pros

    It was a professional environment to work in. If you love dealing with currency markets and market research in general, it is a great place to learn and pick up new things about the market. Learning about the currency markets here also helped me understand the technicals behind the securities, commodities, and other such markets.

    Cons

    Low salary, very competitive environment, and political.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    good place to work

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FXCM

    Pros

    nice people to work with

    Cons

    uncertain, not stable working

  6.  

    Great learning opportunity, lacking in compensation

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

    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 ManagementAdvice

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

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great Company

    • 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

    The company is a Market leader in it's industry. There is lots of room for learning and growth within the company. Management is very approachable and cares about their employees.

    Cons

    Salaries are fair, not tops around. But for most the other benefits and good salary, outweigh any financial gains available elsewhere.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Solid place for young professional

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

    I have been working at FXCM as an intern (less than an year)

    Pros

    Bright office, good place to start. 8 hour work days, the office hours are based off of trading hours with 8 hour rotations since the FX market is 24 hours a day. The only shift that is awkward would be the London trading hours which is basically when everyone else in NY sleeps. Most people work typical hours though.

    Cons

    Some of the responsibilities aren't highly transferable. It's a nice place to get work experience but you the currency trading is a niche in the greater scheme of things

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    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

  10.  

    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 (less than an 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
  11. 6 people found this helpful  

    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 (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

Work at FXCM? Share Your Experiences

FXCM

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.