Mogo launches MogoTrade commission-free stock trading app

By Edlyn Cardoza

Mogo Inc., a digital payment and financial technology company, recently announced the launch and phased rollout of MogoTrade, a stock trading app that sets a new bar for commission-free trading in Canada.

The MogoTrade app is now available for download through the App Store and Google Play. Members get immediate access to free live-streaming stock prices and will be added to the waitlist to access the commission-free trading feature, which will be released in a phased rollout through Q1 2022.

MogoTrade is a next-generation trading platform and user experience designed to empower Canadians to strive for financial freedom with confidence.

“How people invest is changing, and we couldn’t be more excited for Canadians to experience what we see as the future of investing,” said David Feller, CEO of Mogo. “We are very much in the early days of the transformation of investing and wealth management to a mobile-first digital experience. MogoTrade is the centerpiece of our digital wealth strategy. Our next-generation platform will begin with equities, and we expect to expand this over time to include other assets such as crypto and NFTs.”

Greg Feller, President, added: “This is the most significant new product in our history and a major growth milestone for Mogo. MogoTrade, which is only the second commission-free stock trading app in Canada, gives us access to a large and quickly growing market. Canadians have over $8 trillion in financial assets, including more than $3 trillion in equities, mutual funds and ETFs, and our goal is to give them the best digital tools to better manage and grow their wealth. We expect this will be an important driver of member growth and engagement as we move through 2022.”