The fintech said Monday that the Investment Industry Regulatory Organization of Canada gave it the green light to launch MogoTrade, its planned commission-free stock-trading app. (The Logic)
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The fintech said Monday that the Investment Industry Regulatory Organization of Canada gave it the green light to launch MogoTrade, its planned commission-free stock-trading app. (The Logic)
Talking point: The launch of MogoTrade had been a priority for the company this quarter, as more startups pursue the market for retail investing. Crypto exchange Coinsquare has also announced plans to offer stock trading, while Wealthsimple has been adding premium features to its platform, with the launch of a new subscription offering, such as U.S.-dollar accounts. In preparation for launching MogoTrade, the company acquired broker-dealer Fortification Capital earlier this year for about $1 million in cash and 75,000 Mogo shares. Mogo has also upped its share in Coinsquare to about 39 per cent, after the crypto exchange saw rapid growth this year.
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