Mogo Launches MogoTrade Commission-Free Stock Trading App
December 21 2021 - 2:26PM
Business Wire
Canada's only commission-free app with free
real-time streaming quotes
Marks Mogo’s entry into Canada’s fast-growing
market for commission-free trading
Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a
digital payments and financial technology company, today announced
the launch and phased rollout of MogoTrade, a stock trading app
that sets a new bar for commission-free trading in Canada.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211221005719/en/
MogoTrade is Canada's only
commission-free trading app with free real-time streaming quotes.
(Graphic: Business Wire)
The MogoTrade app is now available for download through the App
Store and on Google Play. Members get immediate access to free
live-streaming stock prices and will be added to the waitlist for
access to the commission-free trading feature, which is being
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.”
Select Mogo members will be able to trade immediately, and the
Company will regularly invite members to activate the
commission-free trading feature. To get on the list to receive an
invite to commission-free trading, Canadians should download the
MogoTrade app on iOS or Android.
For more information, visit:
https://blog.mogo.ca/announcing-mogotrade
MogoTrade is offered by Mogo’s wholly owned subsidiary,
MogoTrade Inc.
Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of applicable securities legislation, including
statements regarding the timing of the phased rollout of MogoTrade
and the expansion of the offering to include other assets which
will be subject to all necessary regulatory approvals.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management at the time of preparation, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, and may prove to be incorrect. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual financial results, performance or
achievements to be materially different from the estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are
not guarantees of future performance. Mogo's growth, its ability to
expand into new products and markets and its expectations for its
future financial performance are subject to a number of conditions,
many of which are outside of Mogo's control, including the receipt
of any required regulatory approval. For a description of the risks
associated with Mogo's business please refer to the “Risk Factors”
section of Mogo’s current annual information form, which is
available at www.sedar.com and www.sec.gov. Except as required by
law, Mogo disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise.
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.
The MogoCard makes it easy to enjoy spending control while doing
good for the planet by planting a tree for every purchase. The Mogo
app also enables you to easily buy and sell bitcoin, get free
monthly credit score monitoring and ID fraud protection, and access
personal loans. Mogo’s wholly-owned subsidiary, Carta Worldwide,
also offers a digital payments platform that powers the
next-generation card programs from innovative fintech companies in
Europe, North America and APAC, while Mogo’s wholly-owned
subsidiary Moka is bringing automated, fully-managed flat-fee
investing to Canadians from coast to coast. To learn more, please
visit mogo.ca or download the mobile app (iOS or Android).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211221005719/en/
Craig Armitage Investor Relations craiga@mogo.ca (416)
347-8954
US Investor Relations Lytham Partners, LLC Ben Shamsian New York
| Phoenix 646-829-9701 shamsian@lythampartners.com
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