Digital Banking

Mogo receives approval for stock-trading solution

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December 29, 2021

Mogo, a digital payments and fintech company, has received approval from the Investment Industry Regulatory Organization of Canada to launch MogoTrade, its commission-free stock trading solution, according to a press release.

Through Mogo's app, customers can make purchase through a Visa Platinum Prepaid Card, buy and sell bitcoin, as well as access personal loans and monitor credit scores. For each purchase made, Mogo will plant a tree, according to the release.

"We're excited to achieve this important regulatory milestone before year end, which clears the way for us to launch MogoTrade," David Feller, CEO, Mogo, said in the release. "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."