Age of majority Canadians living in all provinces and territories can use MogoTrade. In order to use Mogo products, all eligible members must complete an ID verification process so we can be sure that you are who you say you are. Then, you’re off to the races to start building your wealth!

Right now, MogoTrade offers three types of investment accounts. There’s the Registered Retirement Savings Plan (RRSP) account, which is a tax-deferred investment account; the Tax Free Savings Accounts (TFSA), which is a tax-free investment account; and the Personal Investment Account, which will require you to pay tax on any capital gains earned.

You can trade thousands of publicly-traded common stocks and exchange traded funds (ETFs) on the TSX and TSX Venture in Canada, along with NYSE, NASDAQ and other major US exchanges.

Not yet, but we’re working on adding this feature in a future app release. Stay tuned!

There are two main ways to fund your MogoTrade account. The quickest way is to fund your account with up to $3,000 instantly using Interac E-Transfer Request. The other option available is to use Bill Payment through your bank and fund up to $100,000 (subject to your bank’s limits). Not all banks support this for MogoTrade, but the big ones and a few others do. Bill Payment deposits are normally credited to your account within 2 to 4 business days not including weekends and holidays.

We always do our best to share receipts and show our work, because we believe it’s important that consumers are able to hold corporations accountable for the promises they make. So we put together a live tracker that allows you to stay updated on the amount of trees planted and CO2 removed by the Mogo community. We’re not about making small changes, we want to create a real impact, and carbon removal is increasingly regarded as an essential tool in the fight against climate change. When you invest with MogoTrade, you join a community of nearly 2 million MogoMembers making a positive social impact. Click here to see the impact you’re helping to make with Mogo and MogoTrade. If you have more questions, don’t hesitate to reach out via email, social media, or on our Discord channel and a member of our team will get you the answers you need.

MogoTrade is very different from other trading apps. We offer a combination of super powerful tools (that most companies charge a premium for), all at no cost to you. And your investments have a positive social impact, for free. With MogoTrade, you get:

Unlimited commission-free trading – MogoTrade is the second ever trading app in Canada that is truly commission-free, with no limits. No cap at 50 trades per year. Every trade is zero-commission.

Zero Foreign Exchange Fees – one of the complaints we’ve seen in the marketplace is high FX fees, a fee you pay when exchanging one currency for another, as an example, buying a US stock with Canadian funds. That’s why we're launching the lowest FX fee in the market today at only 0%. That’s right – there are no foreign exchange fees, which makes MogoTrade the first in Canada to do so. This provides greater freedom and opportunity to invest more like the pro that you are.

Impact – we live in a world where Environmental, Social, Governance (ESG) investing and Socially Responsible Investing (SRI) is increasingly important. Investors and traders don’t just want to make money, they want to help make the world a better place. Those people realize that our money, and where we invest it, can have a big impact on the biggest social issues we face including climate change. With MogoTrade, every investment you make also helps stop the biggest social issue we face, climate change, by helping replant forests both in Canada and across the planet.

Free live-streaming prices – MogoTrade is the only trading app to offer free live-streaming stock prices in addition to unlimited commission-free trading and no FX fees, so you can invest using the most up-to-date information available at no extra cost to you.

MogoTrade is on a mission to democratize the world of trading so everyone can build wealth by investing with impact. Part of that means keeping our platform affordable for Canadians to use. For that reason, we don’t charge commission fees, FX fees, monthly account fees, or subscription fees.

So how do we make money?
Our primary revenue source is interest on cash deposits, i.e. if you have $1k in stocks and have a $100 cash balance, we earn a small rate of interest on this cash balance, as do most other brokers.

That interest revenue is also how we fund tree planting initiatives. This means that we take a slimmer profit than we could—but doing so allows us to have a measurable social impact, build a community of like-minded users, and collectively make the world a better place to live.