What is Moka?
A
Written by Adam Rayf
Updated over a week ago

Moka, powered by Mogo, is an app designed to help Canadians grow wealth, whether you’re a new or experienced investor. Just set up your goal and deposits and we take care of the rest for you.

Moka enables you to invest in the S&P 500, the benchmark index of 500 of the largest U.S. companies, currently including Apple, Tesla, and Amazon. The index has a century-long record of approximately 10% annual return, outperforming nearly 90% of mutual funds and money managers in the long run. The list of companies is also updated regularly to continue representing the largest and some of the most successful businesses for sustained growth.

Fees matter a lot. An average 2% management fee for a mutual fund in Canada can eat away nearly 50% of your potential wealth over 40 years due to compounding. Moka charges a low flat fee of $7.00/month. For comparison: assuming a 10% annual return, a $50 weekly investment for 40 years with a mutual fund's 2% MER fee would yield $697,900. With Moka's $7.00/month + 0.09% MER fee, you'd amass $1,143,751. That's nearly double, solely due to the fee difference!

You can also set up different short-term goals alongside your long-term goals. Our portfolio managers will assign the appropriate investment model for your specific goals.

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