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MogoTrade review

Take care of your finances and the planet when you invest with this innovative mobile trading app.

Enjoy commission-free trades and free real-time streaming quotes.

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Stock Trading Fee


Min. Deposit

Enjoy commission-free trades and free real-time streaming quotes.

Signup Offer

Please note: All information about MogoTrade has been collected independently by Finder and this product is not available through this site.
MogoTrade is a mobile-first trading app that lets you invest in stocks and exchange-traded funds (ETFs) for free on your phone. It sets itself apart from similar apps by offering free real time data and the chance to help replant Canadian forests and save the planet with every investment you make. Learn more about MogoTrade and sign up today to start trading.

Quick take

  • Choose MogoTrade if you want an eco-friendly way to invest for free with real-time data.
  • Choose something else if you want to trade more than just stocks and ETFs.

What is Mogo?

Mogo is a mobile-first financial platform that lets you borrow, spend, invest and track your finances in an environmentally friendly way. It offers a multitude of products and services including the following:
  • Personal loans
  • Mortgages
  • Prepaid Visa
  • Moka investing
  • Bitcoin trading
  • MogoTrade
  • Credit score monitoring
  • Identity protection

Who is MogoTrade best for?

MogoTrade is best for green investors who want to make free trades using their mobile phone. It’s a particularly good fit for beginner investors who don’t feel comfortable working with a big, complicated trading platform. You may want to avoid MogoTrade if you’d like to trade more advanced investments such as options, bonds or futures.

What is the difference between MogoTrade and Moka Investing?

The main difference between Mogo‘s 2 trading platforms is outlined below:

  • MogoTrade. This is a self-directed trading platform so you make decisions on how to buy and sell stocks and ETFs yourself. This involves some level of research and expertise, and you’ll need to manage your investment portfolio more actively.
  • Moka Investing. Moka is a robo-advisor that invests any money you put into your account on your behalf according to your agreed-upon risk profile. This option is a more hands-off way to invest and usually comes with management fees.

What features does MogoTrade offer?

  • No commissions or fees. Pay zero commissions and fees on all of your trades.
  • Free live quotes. Access free streaming price quotes to better plan your investments.
  • No minimum balance. Open an account and start investing with as little as $1.
  • Green investing. Help to replant Canada’s forests with every investment you make.
  • Plans for other investment types. Invest in ETFs and stocks while you wait for Mogo to roll out other investments such as cryptocurrency and non-fungible tokens (NFTs).

How easy is it to use MogoTrade?

It’s very easy to use MogoTrade due to its mobile-first interface and simplified platform. You can sign up for an account in a matter of minutes and make an eTransfer to fund your account. From there, you can search for the stocks you want to buy, monitor the progress of your investments and sell them off whenever you want.

MogoTrade app

The MogoTrade app has a 4.5 rating in the Apple Store and is ranked number 1 in the Finance category. The Mogo app has a 4.8 rating in the Google Play store.

  • Step 1: Open an account by entering your name and email.
  • Step 2: Load funds into your account. You can connect your bank account to deposit and withdraw funds.
  • Step 3: Research and compare securities. You can view stock performances and buy and sell shares.
  • Step 4: Track your investments. Create watchlists, view your accounts and move funds.

MogoTrade fees

MogoTrade offers no monthly account fees and no commissions to trade ETFs and stocks. This is exceptional in a market where the standard buy/sell price for investments is between $4 and $10 per trade. The only other commission-free platform in Canada is Wealthsimple.

There is currently no information on how much you might have to pay for US or other international stocks, but you will want to budget for currency conversion fees at the very least.

MogoTrade pros and cons


  • Free platform. You won’t pay account fees, and there are no commissions on trades.
  • Lower-than-average FX fee. FX fees are 0.75%, which is below industry average.
  • Live quotes. You don’t need to pay extra for real-time quotes.
  • Green investing. The company is partnering with Flash Forest to plant trees with each investment you make using its platform.


  • Still in the rollout phase. Some features aren’t available since the app is still being rolled out (for instance, the ability to transfer over an existing portfolio without liquidating and withdrawing).
  • Limited investment types. You’ll only have the option to trade stocks or ETFs (though cryptocurrencies are in development).
  • Few research tools. MogoTrade only offers a handful of research tools, though it may add more as the site develops.
  • Not yet available in Quebec.

Is MogoTrade legitimate?

MogoTrade is a legitimate trading platform that is regulated by the Investment Industry Regulatory Organization of Canada (IIROC). Mogo received IIROC approval in September 2021 to acquire MogoTrade, which was formerly known as Fortification Capital.

Customer accounts at MogoTrade are protected by the Canadian Investor Protection Fund (CIPF), which means any money you deposit up to $1 million will be protected if the company goes bankrupt.

How do I sign up?

If you meet all the eligibility criteria and are ready to start investing with MogoTrade, follow the steps below:

  1. Download MogoTrade onto your mobile phone through the Apple Store or Google Play.
  2. Click “Get Started” and enter your email address.
  3. Wait to get an email from MogoTrade to invite you to start trading. The Company will regularly invite members to activate the commission-free trading feature.
  4. Once you get an invite, fill out personal information and banking details as required to sign up for an account.
  5. Get verified and load funds into your account to start trading.

How do I contact MogoTrade support?

MogoTrade doesn’t offer an inbound phone support service so there’s no phone number you can call to speak to an agent. However, you can file a ticket to have someone call you or you can reach out to an agent on live chat by visiting the company’s website or by clicking on “Help and support” in the Mogo app.

Compare more online trading platforms

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CIBC Investor's Edge
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Interactive Brokers
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Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
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Get $50 in free trades when you fund your account with a minimum of $1,000.
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Qtrade Direct Investing
Finder Rating:
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$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.

Bottom line

  • Use MogoTrade if you are an eco-conscious investor who wants to trade stocks and ETFs informed by real time quotes, for free.
  • MogoTrade comes with no monthly fees or commissions, and you can get started with as little as $1.
  • Choose something else if you’re interested in more complex investments like options or futures.

Find out more about Mogo’s robo-advisor investing with this Moka review

Frequently asked questions

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