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Mogo Inc
Symbol MOGO
Shares Issued 75,952,490
Close 2022-12-20 C$ 0.66
Market Cap C$ 50,128,643
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Globe says Mogo, rivals hear no-fee trading popular

2022-12-21 07:22 ET - In the News

Also In the News (C-NA) National Bank of Canada

The Globe and Mail reports in its Tuesday, Dec. 20, edition that a study set to be published by ISS Market Intelligence shows on-line discount brokerages that do not charge a fee for stock trades saw a significant jump in the number of new account openings. The Globe's Clare O'Hara writes that firms offering zero-commission trading generated 46 per cent of all new accounts opened, as well as 30 per cent of all trades in the industry -- higher trading volumes relative to their size than commission-based firms. There are about 15 discount brokerages operating in Canada, but less than a handful offer investors zero-commission trades. Wealthsimple Trade was the first platform in Canada to offer a zero-commission trading in 2018, followed by Desjardins Group's on-line brokerage, National Bank Direct Brokerage and newcomer Mogo in 2021. Whether the platforms can remain profitable over the long term remains to be seen, says ISS Market Intelligence's Vince Linsley. He adds, "While the zero-commission model has the potential to attract a number of new investor cohorts, Canadian discount brokerage firms must carefully weigh the offer against the impact of the loss of trading revenue."

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