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Jones Mutual Review - is it scam or safe?

Jones Mutual review - is jonesmutual.com scam or safe forex broker?

RATING: 1 / 23 REVIEWS Jones Mutual
Jones Mutual is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Jones Mutual is a CFD brokerage owned and operated by the company Greenriver OU with a registered address in Tallinn, Estonia. Read the whole review to find out the benefits and disadvantages in dealing with this broker! 

 

Disadvantages

 

No regulation 

 

The brokerage does not explicitly state any regulation whatsoever on its website which leads us to believe it is lacking. Furthermore, authorities in Estonia have yet to incorporate forex into their regulatory framework. We can say in favor of the brokerage that it does not attempt to lead us on into thinking it falls under some imaginary oversight – as is, unfortunately, the case with many forex brokers. However, there is a second “operational address” given which is in Bulgaria and does not make a lot of sense. 

 

Nevertheless, the lack of credible regulation opens up potential clients of the brokerage to a number of risks and due diligence requires us to state them. We have no guarantee of the segregation of accounts i.e. we do not know whether the brokerage handles the money of their clients separately from their own, which greatly increases the chance for fraud. Clients also do not participate in a compensatory mechanism, such as the Financial Services Compensation scheme (FSCS), where by the traders losses may be covered in the unlikely case of the brokerage’s bankruptcy. All this, and much more, inclinces us to recommend interested traders search for better and safer trading conditions. Here is a list of our forex brokers who are in fact regulated by the FCA and have with them all of the outlined benefits.

 

>>List of FCA-regulated forex brokers<< 

 

High spread 

 

Through a demo account we were granted access to the trading platform, provided by Jones Mutual, and could see a spread of 3 pips on EUR/USD. This is twice the industry average of 1.5 pips. A difference of a meager pip and a half may not seem much at first, but bear in mind that in long-term trading, even such a negligible at first amount may drive up significantly the cost of trading. And as has been underlined many times – the higher the cost of trading, the lower the net potential profit of the client. Interested traders can check out our list of recommended low spread forex brokers. 

 

>>List of low-spread forex brokers<< 

 

No MetaTrader 4 platform 

 

Traders have access to the brokers web-based trading platform. It offers some analytic potential and its charting is crisp. Here is a screenshot:

Click to zoom.

Clients, however, do not have access to the MT4 trading platform which is by far the foremost platform in use at the moment. It has a desctop version, a web version that can be accessed through any web browser, as well as a mobile version and has much valued by traders features. One such feature is the MQL4 programming language through which traders can alter or design their own auto-trading bots or run ready-made ones. It is also used by more than 80 per cent of the trading world and due to all these reasons we always view it as a disadvantage if a brokerage does not provide its clients with it.  Here is a list of our recommended forex brokers that do provide it. 

 

>>List of MT4 forex brokers<< 

 

Withdrawal fees 

 

In the terms and conditions we read that clients who wish to withdraw will be subject to a withdrawal fee which in turn depends on the withdrawal method. For withdrawals via credit card traders will have to pay 3.5 per cent, for a wire transfer – a flat $20. Furthermore, withdrawals below $100 will also incur a flat $20 fee. Credible brokerages should have no such conditions since the client’s money is his to dispense with in any way he chooses. Therefore, we see this as a huge disadvantage for Jones Mutual.

 

Not enough payment methods 

 

Potential clients of the brokerage may deposit or withdraw via Visa, MasterCard, Maestro and McAfee secure. Popular options such as Skrill are PayPall are missing. 

 

Advantages 

 

Reasonable leverage 

 

Leverage is a two-sided issue and is always problematic deciding whether a brokerage’s leverage should be seen as an advantage or a negative. On the one hand, it allows traders the possibility of significantly higher profits than would be if they traded with no leverage whatsoever, but in contrast to that – if the market trend leads to losses, leverage will increase the losses. Jones Mutual provides the clients with a leverage of 1:100 which is reasonable and nothing out of the ordinary.


Wide range of financial instruments

 

The brokerage offers clients participation in the forex financial markets. Potential traders may trade CFDs on currency pairs, stocks, indices, precious metals, commodities. This is pretty standard and nothing out of the ordinary, however, such a variety is always a welcoming sign.

 

The brokerage does not, however, offer CFDs on crypto which is an exciting products. Interested traders should check our list of recommended Bitcoin forex brokers: 

 

>>List of Bitcoin forex brokers<<

 

Conclusion 

 

Overall, Jones Mutual is an unregulated forex brokerage that has it’s own pretty neat web-based platform and a significant range of financial instruments from which traders may choose. However, the spread is a bit high and most important of all – we have no assurance for the safety of the clients funds. Having that in mind, we would advise interested traders to orient themselves to better trading options to which we have linked throughout the review. 

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Traders` reviews for Jones Mutual

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

clever clever

its my opinion that this is a Scam. I,m still working it out, which is what the idea is I guess? I have been scammed before and I have lived on the streets of the U.S.A for three years. Being one of the Polarised it has givin me a whole different perspective of the MACRO agenda behind these Scams. Its my Opinion that they r part of a relidgeous plot to seperate and divide. Build a whole concept of bridled thinking utilising the Bi-Polar Phychological model as the base.

I think that its about managment, containment and manipulation of intellect?

The polarised represent a resevoir of raw material from which to extract monies. This as These Polarisd are in no position to defend themselves. Due to free internet usage and an indemnic inadequecy, these r the ones who will be looking for ways in which to make a quick buck and r those who will be targetted by the Scammers.

stuart hopwood 07/11/2019

Jones Mutual are scammers

If you've never done any sort of trading you will be tempted by the idea of earning £5k a month and they will say that they will call you twice a week and make trades for you if you deposit £1000.

I became suspicious when the documents they asked for was a coloured photocopy of my debit/credit card. No other broker will ever ask you for that, EVER. The first senior analyst that talked to me even managed to trick me by saying he has a son himself and knows how it feels like to want to make sure that I have money to support my children.

After two weeks I did not hear anything from them at all. Every single time I rang they would get someone else to talk to me. And so I decided I wanted my refund back because I was unhappy with their service. After two weeks I didn't receive anything back. So I immediately contacted my bank and gave them all the documents they needed to help with my case. So grateful that they are helping me investigate this fraud company.

I hope that nobody will ever get scammed by them.

ALWAYS ASK LEGIT TRADERS WHICH BROKER TO USE BEFORE YOU WANT TO START TRADING. Also make sure you do the right checks.

Jones Mutual doesn't even use MT4 and not sure what platform they used but it's absolutely rubbish.

Also, every time you call the number provided you will be led to some random ass person who doesn't even speak proper english.

Alicia 05/08/2019

Do not invest ever with Jones Mutual or any other of these fraudsters

I was tempted by the phoney advertisement of Piers Morgan and the bitcoin profitability.
When you click on the ad you are bombarded with phone calls from so called investment brokers for weeks and months they never stop ringing you sometimes as many as 3 times a day. They just batter you with they are the best and surely you want to make money.
I fell for Jones Mutual who rang me for days on end even in the evening.
Eventually I though okay give it a go and paid $250 dollars via credit card. Their arguement is you'll make it back before you have to pay the card off. You have to give proof of ID e.g, driving licence and utilty bill and then you see $250 in an account and their fancy software website. They still pester the living daylights out of you to increase the investment to $5000 or $2000 even $1000.
I decided this was a big mistake and wanted to cancel the transaction.
I rang my credit card company and they said because of the type of transaction their was nothing they could do to stop it.
Okay I had more calls from Jones Morgan's so called Senior Analysts a different one almost every time. I was told they would pool my $250 with other so I could see the gains to be made.
The account started to grow to as high as $400 but before I caould even consider a withdraw it droppped to a -$12 and my account said -$40 so no chance to get my money back.
I rang their customer services who then get another new Senior Analyst to call and try to twist your arm into more investment.
I had a guy called Daniel Muller ring me who said yes you've lost your investment but hey it's only $250 you need to invest more and went on and on to talke about Apple, Boeing and other large companies. He was relentless and was adimant that my $250 loss was nothing.
Needless to say I told him where to go and to never call me again.
My advice is do not even consider or show any interest in these comapnies as they are nothing more than a scam to take money off you.

Barry Stanyer 03/29/2019

Absolute scam! 100%.

I invested a minimum deposit of £250 after a phoney advertisment of Piers Morgan 'winning thousands in 5 minutes' on live TV! Jones Mutual advertisers use captions of famous people and fake the quotes underneath; 'She revealed this amazing financial loophole on LIVE TV!' Click on 'Join the Bitcoin Revolution' drop your funds and a 'market analyst' phones you in half an hour, except he wonders what you intend to do with £250, which gets you nowhere, says BITCOIN is finished and there is no magic algorithm software that can analyse as promised, as stated in the ad. At least, you are not going to get nay access to it. I launched a request for withdrawal, you are supposed to be able to do at any time and customer service fobs me off by e-mail and phone in Ireland five weeks later. Phillipino or Indian call service give themselves English names like Daniel Muller, Kevin Carter, Cindy, Ashley M, Sam G. They are all fake and promise to forward your complaint or request to the 'relevant department.' Then nothing happens. File a dispute with your bank's fraud department and use all e-mails and any screenshots of false ads as evidence. It's the only way you might see your money again.

Victoria Moore 03/16/2019

Fraud

I invented £14k in Jones Mutual and they will give you a payment
back to then hook you to invest more, they are pure charlitans and
fraudsters.

Sean Homes 03/15/2019

got scsmmed and niw fink he is watchin me im scarred

A got s fonecall he dold me to download any desk and av no idea so s did n s fink he is not judt controlin me but watchin me

karen 03/10/2019

Scammed

I invested nearly £10000 with Jones mutual and it appears to be lost due to bad trades . I devestated then promised me a good investment .

Hazel John 03/08/2019

Liars and Thieves

As everyone below scammed by Jones mutual after asking for withdrawal b Ben my account manager or professional thief, ( a more fitting description) canceled it and a proceeded to act like a child when I refused to give more money. Was left alone for a while and my account was passed to another scammer called Peter Jones!!!! Not the Dragons Den but a guy with broken English trying yet again to add more money. These guys are consistent in trying to take your hard earned cash and stealing it. Anyone who reads this and still invests deserves to loose their money. Do your research and check all feedback before investing. I wish I had

Decky 03/08/2019

Jones Mutual are crooks

Yes I have been conned on the back of Dragons Den my friend persuaded me to invest. We were told £250.00 is all you need to start, then the pressure is applied my credit card visa refused to pay any further funds, but Jones Mutual and the broker James Feldman helped them selves to £6000.00 and I was told and could see the profit was looking good, until I wanted my monies out as promised at the end of December. I am still waiting.

As they have an office in Dublin I phoned the Garda and after a few emails said there was nothing they could do, even though one office is in Dublin.

Why did I not google them before I invested.

Regards

JJ

Jeremy Jordan 02/26/2019

Liars and Thieves

The title says enough. Stop trying to get your money back as it's not even a trading company. It's all a scam. No one has ever made a successful withdrawal. SCAM

Declan 02/19/2019

Jones Mutual is a scam!

I deposited 2000$ in this platform as a broker partner of calloway software.I asked them to connect my account to calloway but they said they have their own auto trade. I did not agree with them so I withdrew the money but Jones Mutual did not approve the withdrawal. I stood out that I need mt deposit and did not even trade in their platform. i called the support but thet said they cannot act in behalf of the broker. DON'T GET ANY CALLS FROM JONES MUTUAL ITS A 1000 PERCENT SCAM!

Jona Paz 01/31/2019

Very poor communication,I demand my deposit back but no reply

I think I lost my money as well,credit card company said there's nothing they can do, aqua credit card.

Mary Smith 01/02/2019

Please never try

Please people never open an account with jones mutual. U will never get ur monney back.

Christian Kaempf 11/22/2018

Scam artists

This is not a reputable company. I was lucky because my bank spotted it and blocked the payment. I then cancelled my credit card and got a new one issued. Do NOT under any circumstances give these people any money. They used a false advertisement claiming to have been chosen by Dragons Den millionaires to gain my trust. I was fooled by them but fortunate enough not to have given them any money.

Tog Porter 11/21/2018

Been scammed

Ive been scammed out by these professional thiefs . At the time of the deposit , they gave me an account which after 2 weeks still have a balance of zero . Their support agents keep you on a line with no results ,

Christo Gouws 11/09/2018

No feedback, no communication

Once they have your money, they do not respond to any emails or inquiries. My registration money went off twice - no refund. Money transfer did not go through first time therefore had to retry. Eventually both amounts went through but again, no feedback on emails inquiring about refunding second amount. Mark Webber is very intimidating, not professional at all. Company's client service is poor.

Diana 11/07/2018

Danger

Danger Do not invest your money in that side the Ascom I lose my money

Abdulai 11/01/2018

Scam

have been getting 10 calls a day from random locations since signing up

Jesse 10/30/2018

Withdrawal canceled

I deposited 20170 usd in this broker and I was trying to withdraw my deposit before trading commence because the "analyst Mark Webber" assigned to me is a fuckin idiot. I made the withdrawal and its confirmed in my email. I waited for my money to be be deposited in my account but the management kept on cancelling it. I made several withdrawals but they kept on cancelling it. One thing more its the analyst who is putting the trades which should be allowed in stock market trading rules. This company is a big scam I have evidences of my conversation with the support who cannot even help to solve the withdrawal problems.

Jona Paz 10/20/2018

Jones Mutual - Withdrawal pending after 12 days

My withdrawal is still pending after 12 working days. I will update you on whether I get it or if this is a scam.

They don’t respond to your emails at all
Service is actquite disgusting.

Hayley 10/02/2018

withdrawal

has anyone made a successful withdrawal?

Geoff Gould 09/11/2018

Scammers run a mile

Scammers , take your cash and you will never get it back boiler room

Hippo jones 09/05/2018

Jones Mutual - Cannot withdraw, have tried 3 times

They are a scam

I cannot get my withdrawal from them and it keeps on getting rejected even though i have tried 3 times.
Give them a miss.
The analyst Gary Bradly keeps on cancelling my pending withdraw and compliance never respond to my emails. The manager should be fired, stupid incompetent fool he is as useless as hell. Definitely do not invest your money there.

I WARN IT IS A SCAM BROKER, DO NOT INVEST< the SUPPORT STAFF SUBMIT YOUR REQUESTS BUT NO ONE GETS BACK TO YOU !!!

hayley 08/30/2018
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