Commission-free stock trading app to launch imminently
Mogo Inc., a digital payments and financial-technology company, announced it has received final approval from the Investment Industry Regulatory Organization of Canada (“IIROC”) for the launch of MogoTrade, Mogo’s commission-free stock-trading solution.
“We’re excited to achieve this important regulatory milestone before year end, which clears the way for us to launch MogoTrade”
“We’re excited to achieve this important regulatory milestone before year end, which clears the way for us to launch MogoTrade,” said David Feller, Mogo’s CEO. “Our team has been heads-down on this initiative since early this year and we couldn’t be more excited for Canadians to experience what we see as the future of investing. Not only do we believe MogoTrade will set a new bar for commission-free trading in Canada, but this will also be the first trading app in the world to turn every investment into climate action by helping replant Canadian forests devastated by wildfires. How people invest is changing, and we’re excited to be at the forefront.”
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Additional details on MogoTrade, including instructions for downloading the app, will be available in the near term at mogo.ca.
MogoTrade is offered by Mogo’s wholly owned subsidiary, MogoTrade Inc. Mogo received IIROC approval in September 2021 to acquire MogoTrade Inc. (formerly Fortification Capital Inc.) including its Direct Market Access and order-execution-only brokerage services. The receipt of IIROC’s final approval for the change of business to a new model enables Mogo to proceed with the launch of MogoTrade.
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About Mogo
Mogo is empowering its close to 1.8 million members with simple digital solutions to improve their finances. Through the free Mogo app, consumers can access a digital spending account with Mogo Visa* Platinum Prepaid Card, the only card of its kind in Canada.
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