Moka, formerly known as Mylo, is an app that helps you achieve your financial goals. With Moka, you save more, spend less and invest smarter.
Products Offered
Below are all the products offered by this company.
Moka App: Intelligent Investing Made Simple
Moka (formerly Mylo) is one of Canada’s most popular micro-investing apps. It helps you invest your spare change automatically into diversified portfolios so you can start building wealth with little effort. With automated round-ups, recurring deposits, and socially responsible investment options, Moka makes it easy for Canadians to start investing and reach financial goals faster.
Moka at a Glance
- Automatic round-ups: invest spare change every time you spend
- Low barrier to entry: no large minimum balances required
- Diversified ETF portfolios, including Socially Responsible Investing (SRI)
- Flat, transparent monthly fee
- Mobile-first experience with real-time tracking
- Goal-based investing: save for a vacation, home, or retirement
How Moka Works
Every purchase you make is rounded up to the nearest dollar and the difference is automatically invested. Buy a coffee for $3.60? Moka rounds to $4.00 and invests $0.40. Over weeks and months, these small amounts accumulate into meaningful investments. You can also set recurring contributions (weekly or monthly) for even faster growth.
- Round-up every purchase automatically
- Set recurring contributions (weekly or monthly)
- Withdraw anytime when you need funds
Moka App Reviews – What Canadians Are Saying
Thousands of Canadians use Moka to automate their investing. Here’s what real users highlight most often:
- Ease of use: Simple app interface and quick account setup
- Hands-off investing: Round-ups and recurring deposits make saving automatic
- Transparency: Flat monthly fee with no hidden charges
- Great for beginners: Perfect way to start investing without large sums
- Room for growth: Some reviewers mention fees feel high if balances remain small
Overall, reviews of Moka are positive — especially among first-time investors looking for a simple, automated way to build wealth. While not designed for active traders, it excels at helping everyday Canadians establish consistent investing habits.
Diversified ETF Portfolios
Moka invests your money in diversified ETF portfolios designed by experts. Choose between standard growth portfolios or Socially Responsible Investing (SRI) options that align with your values. Your portfolio is automatically rebalanced to keep you on track.
- Diversified across equities & bonds
- Standard and SRI portfolios available
- Automatic rebalancing to maintain allocation
Transparent Costs & Access
Moka charges a simple, flat monthly fee — no hidden costs, no trading commissions, and no large minimum balance requirements. You can deposit or withdraw funds at any time through the mobile app.
- Flat monthly fee, easy to understand
- No account minimums
- Flexible withdrawals anytime
Illustrative Growth Examples
Here’s how regular contributions can grow over 10 years at 4%, 7%, and 10% annual returns. ROI shows your return compared to contributions.
| Monthly Contribution | 10Y @ 4% | ROI | 10Y @ 7% | ROI | 10Y @ 10% | ROI |
|---|---|---|---|---|---|---|
| $50 | ≈ $7,362 | 23% | ≈ $8,680 | 44% | ≈ $10,390 | 73% |
| $100 | ≈ $14,725 | 23% | ≈ $17,360 | 44% | ≈ $20,780 | 73% |
| $200 | ≈ $29,450 | 23% | ≈ $34,720 | 44% | ≈ $41,560 | 73% |
Frequently Asked Questions
What is the Moka app?
Moka is a Canadian micro-investing app that rounds up purchases and invests the spare change into diversified ETF portfolios.
How do Moka round-ups work?
Every transaction is rounded up to the nearest dollar. The difference is automatically invested on your behalf, creating an effortless way to save.
What portfolios can I choose?
Moka offers diversified ETF portfolios, including growth, balanced, conservative, and Socially Responsible Investing (SRI) portfolios.
What fees does Moka charge?
Moka charges a flat monthly subscription fee. There are no trading commissions or hidden costs.
Is there a minimum balance?
No. You can start with just spare change and build gradually.
Can I withdraw money from Moka?
Yes, you can withdraw anytime through the app. Withdrawals are flexible and processed digitally.
Is Moka safe?
Yes. Moka partners with regulated financial institutions, and your investments are held in insured accounts.
Who should use Moka?
Moka is ideal for beginners, young professionals, and anyone who wants to start investing automatically without needing large sums upfront.
Does Moka support SRI investing?
Yes. Moka offers Socially Responsible Investing portfolios that align with ESG (environmental, social, governance) standards.
How fast can I get started?
Opening a Moka account takes only a few minutes. Once linked, your round-ups and contributions begin investing right away.
Contact information
support@moka.ai- 642 Rue de Courcelle Floor 4, Montreal, Quebec.
Availability:
All of CanadaSupport Offered:
- Email Support
- Web Chat
- Social Media
- Mobile App
- FAQs
Call Center:
Mon - Fri: 9:00AM - 6:00PM EDTFrequently Asked Questions About Moka
What is Moka?
Is Moka safe?
Moka has been downloaded by 750,000 Canadians, and it rebranded from Mylo to Moka for expansion to France in 2020. To date, Moka has raised $14M in funding, most notably from NAventures, the venture capital division of National Bank of Canada, and Desjardins Capital, the venture capital arm of North America’s largest association of credit unions.
What features does Moka offer?
Moka automates your saving and investing with their roundup feature and they make it easy to save even more with the multiplier, boosts, and recurring deposits. They also offer TFSAs and RRSPs, socially responsible investing, an easy way to donate to registered charities, and free next day withdrawals.
How much does Moka cost?
For only $3.99 per month (plus tax), you’ll have access to automated saving and investing features, unlimited fully-managed portfolios, and more. That’s it. No matter how much you invest. That's their base fee. Moka 360 (their premium service) costs $15/month (plus tax) and includes access to their financial coaching, and their debt repayment tool.
How can I sign up for Moka?
First, download the app from the App Store or Google Play. Next, follow the steps to set up your Moka account. The information you provide during the sign-up process ensures your registered portfolio manager understands your risk profile and your financial goals. Once you've completed the sign-up process you can explore the app! A default goal will be created for you and you can click on it to have it customized.
What is Moka's mission?
Moka (previously Mylo) is on a mission to help people achieve their financial goals with Canada’s #1 saving and investing app.
Who can use Moka?
There’s no financial knowledge, minimum investment or lifestyle change required to use Moka, so anyone can start saving and investing towards their financial goals right away.
Are roundups the only way to save with Moka?
A great option to save faster with roundups is the multiplier feature. This feature allows you to multiply your roundups so you can double, triple or multiply your roundups! It's also possible to invest one-time boost amounts and recurring weekly deposits to save more, faster.
Who manages my money?
Every Moka user is advised by a registered Canadian portfolio manager, Tactex Asset Management, Moka's trusted partner. The information you provide during the sign-up process ensures your registered Canadian portfolio manager understands three main things: your financial situation, your risk profile and your financial goals.
Moka Reviews
Avg. Rating: 5.0 (2 reviews)
So much control
“The services are really well explained. And it gives me so much control on how and when I can organize my savings. Well done! I wish I was able to cancel my debt plan myself instead having to send a message. But hey! The customer service is fast to respond and helpful! So it counterbalances.Thanks. (via Google App reviews)
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Love it
“Love this app! The spare change really adds up, and they invest it for you. I have total peace of mind using this app”
