Jones Mutual Review
Reason to avoid: No license
Listed Date: November 18, 2018
Top 3 Regulated Forex Brokers
Beware Jones Mutual is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: GreenRiver OÜ
- Registration/license: None
- Registration/license requirement: –
Jones Mutual is a Forex and CFD broker. The company is owned and operated by GreenRiver OÜ with a registered address in Tallinn, Estonia. They also provide an operational address in Dublin, Ireland. However, the broker is not regulated either in Estonia by the Estonian Financial Supervisory Authority or in Ireland by the Central Bank of Ireland. In order to be able to offer financial services, brokers should obtain a license from one of the regulators depending on the country. Jones Mutual doesn’t provide any information about its regulation at all. Moreover, the Estonian Financial Supervisory Authority has issued a warning against Jones Mutual/GreenRiver OÜ:
“Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform clients and investors that GreenRiver OÜ(registry code 14445326) does not hold an activity licence for the provision of investment services in Estonia and therefore GreenRiver OÜ is not authorised to provide investment services in Estonia. The company offers the possibility to trade derivatives through web page https://www.jonesmutual.com.”
In addition, we have found numerous negative reviews from people who were scammed out by Jones Mutual. They state the broker refuses to refund or withdraw their investments. It seems like all the mentioned factors should be enough for the traders to avoid this unregulated broker. Instead we advice investing with the brokers regulated by the well-respected financial institutions such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). Check the list of the FCA-regulated brokers.