With the transfer window reopening in less than a month, speculation has begun over reinforcements Jol may bring to the club in January. Marseille's Andre-Pierre Gignac has been heavily linked with a move to Fulham, while Wigan striker Hugo Rodallega and Schalke striker Raul have also been mentioned.
The latter would be a particularly audacious signing and Jol has quashed talk of a move for Spain's all-time record scorer, insisting Dembele can be just as good.
"It is not our philosophy [to make signings like Raul]," he said. "He is a star but I have another star in that position who will probably be the same as Raul in the future. Moussa Dembele is on the way to becoming a fantastic player.
"Bryan Ruiz can also play there and we have a young player that can play in that position that you probably don't know in Kerim Frei. I have Pajtim Kasami, who is 19 years old, so I would probably be crazy to get another player in that position."
Jol also ruled out a move for Manchester United striker Dimitar Berbatov, who he knows well having originally brought him to England while in charge of Tottenham.
"That is just paper talk," he said. "Dimitar Berbatov is at Man United and is quite happy. And if he moves I don't think it will be possible for our club to get him, you know? He is certainly a very good striker, he was very good for me, but it is just paper talk."
Fulham may face Berbatov's side in the latter stages of the Europa League after their Champions League exit at Basle. Fulham face Odense next Wednesday night looking to make the knockout stages, where they would be in the draw alongside Manchester rivals United and City.
"I feel that they will be very disappointed, especially Manchester United," Jol said. "They were tipped probably to win the Champions League because they are capable of doing so, but that is football.
"They went there to Basle, who are a team that could surprise any other team. They are fighters. Manchester City did their job, got their win and hoping that Villarreal would get the points at home against Napoli. It didn't come off but, as I say, that is football."
On the Europa League, Jol added: "We are happy to play at that level and that is why we do it with strong teams.
"Other clubs will probably make different decisions and play other teams, like Tottenham did. Then you will probably get punished, but maybe they are fine with that situation because there is always an advantage.
"Even if you lose a game or get knocked out of the Europa League [there are advantages], but our principle is to do the best we can in Europe and get as far as possible."
Before attention turns to the Europa League, Fulham travel to Swansea in the Premier League this weekend. Damien Duff and Chris Baird will miss the trip to the Liberty Stadium, while Steve Sidwell remains a doubt as he recovers from a hernia operation.
There is good news, though, concerning the fitness of Danny Murphy, who was expected to definitely miss the Swansea match after picking up an ankle knock against Liverpool on Monday.
"Danny is probably involved because he is a quick healer," Jol said. "He will have a test as well tomorrow. His ankle was swollen up but it is better now so I hope he can be involved. It's touch and go." Long-term absentee Simon Davies may also be involved after stepping up his recovery from a knee injury.
"Simon played 70 minutes for the first time with the reserves and looked well," Jol added. "He gave himself seven out of ten fitness-wise so I will, if he is fine on Friday, involve him in the squad."