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Moka is an investing app that gives Canadians the opportunity to reach their financial goals through saving more and spending less by automatically rounding up every transaction you make and investing that spare change.
If you're new at investing, Moka is ideal for you as it was created to guide individuals step by step through their your first investment experience. For example, Moka simplifies this process by putting your money in pre-defined ETF portfolios which is a good start to building your wealth.
Moka offers two different plans that you can choose from which are: Moka and Moka 360. The basic Moka plan costs $3.99 per month which allows for automatic savings and investments. It has automated saving features, unlimited tax-free investment accounts and investing perks. The Moka 360 plan costs $15.00 per month which allows for more options such as access to personalised financial advice and debt plan, earn double cashback perks as well as all the Moka features such as the automated saving features, unlimited tax-free investment accounts and investing perks.
If you decide to join Moka, your money will be managed by a registered Canadian portfolio manager at Tactex Asset Management who is involved in managing over $215 million in client assets. Moka also has a team of portfolio managers who carefully works with the investment of spare changes from Moka users.
As you may already know, any investment will have some level of risk. The only difference with Moka is that, they will invest your money in a low-cost EFT so that your investment is less volatile in comparison to other stocks. The EFTs that are held in Moka are insured by the Canadian Investor Protection Fund. Additionally, Moka is also audited by an international accounting firm every year.