Jones Mutual – Scam or Safe Broker? Review Uncovers Some Hidden Truths

Jones Mutual is another binary options broker that is based on Panda Trading Software. The software is known for its simple layout and user-friendliness. Sirix, MT4, and MT5 often tend to intimidate the beginners, this is why Panda Trading Software often becomes the most preferred choice…

Jones Mutual Broker Website Screenshot

Jones Mutual offers trading services for CFDs, Crypto, Indices, Forex, and Commodities. We have realized that the BTC/USD spread is beyond normal, i.e. $175 so you need to be careful when trading Bitcoins on this website.

The website is functional so it is a good sign but do you need to consider this platform? There are various factors we need to highlight before recommending or rejecting this broker. Jones Mutual scam complaints are not evident yet so we’ll have to go rely more on the information about the company and its legal status to draw a clear picture.

Jones Mutual Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: Whilst at present there doesn’t appear to be many complaints about Jones Mutual (since they are relatively new) we still can’t recommend them to you because they are NOT regulated, which means your money is not protected, and also many non-regulated firms later turn out to be nothing but scams. So here at Stopping Scammers we advise against trading with unregulated brokers like Jones Mutual.

Quick Navigation

This review will likely be quite lengthy as we conducted thorough research into Jones Mutual & so as a result we have put together some links below which will enable you easily navigate straight to the specific information that you came here looking for.

 

Jones Mutual Background

Operated By GreenRiver OU

  • Registered Address: Harij Maakond, Keslinna Linnaosa, Parda tn4, 10151, Estonia.
  • Phone: +372 880 4891
  • Operational Address: 77 Sir John Rogerson’s Quay, Grand Canal Docklands, Dublin, Ireland.
  • Phone: +353 76 680 5512
  • Web. www.jonesmutual.com
  • Email. support@jonesmutual.com

The company emerged as a CFDs broker a few months back in June 2018. The good thing is that it offers more than 200 assets including Crypto, stocks, indices, forex, and commodities.

The website also features an education section updated with tutorial videos, eBooks, and a glossary as well. Now is the time to have a look at the legal status of Jones Mutual.

Is Jones Mutual Regulated?

Jones Mutual is NOT regulated and we are extremely disappointed because the website looked impressive, everything was alright up to this point.

There could an explanation though, Estonian regulatory framework still doesn’t incorporate Forex. But we still can’t recommend anything that is not regulated for whatever reason. There is no guarantee whatsoever to ensure the protection of your funds. There is no way you can seek protection under the Financial Services Compensation Scheme (FSCS). This scheme covers the loss if the broker goes bankrupt. Once more, the lack of proper registration forces us to doubt a platform that seemed promising at the first look.

Jones Mutual Complaints

We created a Demo account to have a better look at Jones Mutual services. We were surprised to see that EUR/USD spread is much higher i.e., 3pips which is twice of the average spread we normally witness with the registered brokers.

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The platform is new and the website is functional, that’s why we don’t come across any serious complaints against Jones Mutual. It is usual with most of the brokers who have not yet run away. All complaints flood in after the broker disappears. It is logical because this is the initial phase where the broker attempts to attract more and more clients. It serves well encourage the brokers. For us, it is too early to conclude anything. We can’t predict a potential loss, fraud, or trap. But we still suggest avoiding making huge deposits.

Jones Mutual Withdrawal

The withdrawal fee varies depending on the choice of withdrawal method. Jones Mutual processes withdrawal via Wire Transfer and Credit Card.

  • The withdrawal fee for wire transfer is $20, fixed.
  • The withdrawal fee for Credit Card transaction is 3.5% of the amount.
  • In addition, if you want to withdraw anything less than $100, additional 20$ will be charged.

Well, these statistics are not encouraging. It seems as if the broker is trying to make the most of the withdrawal transactions. We’ve gone through various registered as well as unregulated brokers, and none imposes a certain % of the withdrawal amount in the case of Credit Card. In fact, most of the brokers don’t charge anything for Credit Card Withdrawal. There is no way a broker can claim such unusual charges. This is a huge –ve that is suggestive of the broker’s undercover intentions.

Anyway, Jones Mutual facilitates MasterCard, McAfee Secure, Maestro and Visa. It is disappointing to see that the platform is not offering e-wallets.

Is Jones Mutual a Scam?

At the moment, we can’t call Jones Mutual a scam because we haven’t heard anything serious while searching for the complaints. The broker has just entered the industry and we can expect it to offer exceptional customer support and services during the early days. In this case, we can’t really predict what’s coming in the next few months.

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Our Verdict on Jones Mutual

We CANNOT recommend Jones Mutual because it is not regulated. The withdrawal policies don’t serve the client’s interests. We don’t find enough information about the company to check its history and credibility. The terms & conditions section doesn’t feature specific details. In fact, we need to wait for a few more months to make a better decision. It is too early to make a call!

Get Your Money Back From Jones Mutual

Have you already lost money to Jones Mutual prior to coming to this review? Well that is obviously not the most ideal situation but there is a still a very strong chance that you can get it back with the help of our free scam reclaim guide.

Our guide shows you the exact steps that you can take to reclaim the money back from the hands of scammers & it has helped thousands of people successfully reclaim their funds to date.

So if you have been scammed by Jones Mutual we highly recommend you check out our guide which you can access for free by clicking here as we’re extremely confident that it’ll help you out.

A Legit (And Better) Way To Make Money

Hopefully you haven’t been scammed by Jones Mutual but if you haven’t no doubt you are still wondering how you can make money since Jones Mutual is potentially a scam… Well don’t worry, there are plenty of legitimate opportunities to do exactly that.

Whilst carrying out our investigations we’ve come across many legitimate websites but there has been 1 in particular that has stood out from all of the rest & we have crowed it our number 1 recommendation for working from home.

So if you want to get access to our number 1 recommendation for working from home you can do so by clicking the link below (and don’t worry it’s totally free):

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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