Moka Review 2023: Automatic Investing & Lowering Your Bills

Bobby Hall

Moka offers Canadians an opportunity to save more, spend less, and build wealth. The app rounds up money on your shopping items and automatically invests the spare change in Exchange Traded Funds (ETF). Based on your financial situation and objectives, the app selects a suitable portfolio that allows you to invest without changing your lifestyle.

Overall rating


Summary: If you need direction on how to control your spending, lower your bills, and build savings, the Moka app will do the heavy lifting for you.


moka logo

$3 - $15

Monthly Fees


Account Minimum



Account Opening


Deposits & Withdrawals


Commissions & Fees


Product Offerings


Portfolio Construction


Portfolio Management


Customer Service




Safe & Secure


  • Experienced portfolio managers
  • Does not require a minimum deposit
  • Offers fast withdrawal services
  • Straightforward account opening process
  • Socially responsible investing
  • Valuable cash back perks


  • Monthly fee appears high
  • Portfolio options are limited
  • No physical offices

Best For

  • Fully-managed investing
  • Building savings
  • First-time investors


HQMontreal, Canada
Fees$3.99 (Moka Original), $15 (Moka 360)
Account Minimum$0
AccountsTFSAs, RRSPs, Non-Registered Accounts
AccessMobile App
Portfolio rebalancingAutomatic
Tax loss harvestingN/A
Automatic depositsAvailable in form of roundups, one-time boosts, and recurring deposits
AdvisorPortfolio Managers, Financial Coaches (Moka 360)
Fractional shareAn exchange traded fund (ETF) is a bundle of fractional shares of individual stocks and bonds and offers a great way to diversify your portfolio
Socially responsible investingWomen in Leadership Fund, US Low carbon Equity ETF, US Equity Gender Diversity ETF, Canadian SRI Equity ETF, International SRI Equity ETF

In depth review on Moka

Moka was founded in 2017 and has increasingly become a popular investing app in Canada and recently expanded to France. Any Canadian who wishes to invest their money irrespective of how little they have can now do so with Moka. Instead of putting your spare change in a tin or under your pillow, you can begin your investment journey with minimal effort using the Moka app.

Moka is best for

  • Fully-managed investing: As the market changes, your portfolio will automatically rebalance weekly to suite current market conditions.
  • Building savings: If you buy a coffee for $5.50, the app will round it to $6 and deposit the difference of $0.50 automatically into your Moka account. This will also help you control spending to some level and build savings for a future purchase or have the spare change invested.
  • First-time investors: Beginners are guided by portfolio managers and reliable customer support. Also, there is no limitation on the minimum deposit amount. 

Moka benefits

  • Experienced portfolio managers:  Every Moka portfolio is fully managed by an experience portfolio manager.
  • Does not require a minimum deposit: There is no limit on the minimum amount to invest with Moka. Every account is an investment account. This equally means that when you save with Moka, automatically you are investing with Moka.
  • Straightforward account opening process: Moka’s account opening process is simple and straightforward. You only need to sign up within three steps and link with your debit/credit card and you are set. 
  • Offers fast withdrawal services: Moka does not charge any fee on withdrawals: You can withdraw your funds at any time and receive them within a day. Funds withdrawn before 1:00 pm (EST) are processed within the same day.
  • Socially responsible investing: This feature is available for environmental and societal conscious clients. The socially responsible investing funds are invested in ETFs that encourage women’s leadership, gender equity, minimal carbon emissions, and others. Moka also has a “Round-Up to Give” program which they have partnered with over 86,000 charities.  
  • Valuable cash back perks:  You will enjoy Moka perks at your favorite brands, such as Apple Music ($9.6), Hellofresh, Oculus (1.1%), (2.5%), Uber Eats (4.2%), and many others, which helps you save even more.

Moka drawbacks

  • Monthly fee appears high: The monthly fee for Moka accounts is slightly higher compared to the average monthly charge for other apps. However, this fee comes with amazing features, such as customized debt plans, personalized advice, double cash back and Moka perks. You can save more money by making use of these perks compared to the cost of Moka.
  • Portfolio options are limited: Moka offers only 10 portfolios for their clients, which may not cover your investment goals. However, it fits most people’s goals.
  • No physical offices: Lack of a physical address scares some clients from investing huge sums of money as they fear losing their money. To clear this doubt, Moka invests only in ETFs that are insured by the Canadian Investor Protection Fund.

Factors contributing to the overall rating

Account opening


Moka attracts more Canadians with its straightforward account opening process. Simply visit the Moka website, sign up and link your bank account to the app. Submit a valid photo to verify your identity and answer all questions about your investment risk, tolerance level, and financial goals.

Finally,  allow Moka to select a portfolio that suits your goals and needs. You are now set and can watch your savings grow. The app is flexible as it allows you to add multiple goals. For instance, you can save for a down payment and your retirement at the same time.

Deposits and withdrawals


 There are 3 funding options:

  • Round-ups: If you purchase an item for $7.50, Moka rounds up the sum to $8 and invests the difference of $0.5. This can be disabled anytime.
  • One-time deposits: You can deposit money into your investment account whenever you like.
  • Recurring deposits: You can choose to invest a  specific amount on a weekly basis.

Once you have enabled roundups in your Moka App, you will save money automatically on every item you buy. The whole idea with Moka roundups is to help you accumulate the spare change over time. Remember, you can disable Moka roundups any time, If you want to speed up your savings, you can multiply your roundups. 

Setting up a recurring deposit option is also easy with Moka. You only need to select your goals, funding rules, enable the recurring deposits options, and set the amount you wish to save weekly.

Commissions and fees


Moka offers two investing accounts: Moka Original and Moka 360. For Moka Original, the monthly flat rate is $3, which translates to $36 annually. The charge for Moka 360 is $15 a month translating into $180 annually. While this fee might appear high, it comes with attractive features that help you to save more. Moka clients are able to save more through the savings integrated into the app and smart investments.  

Moka ETFs management expense ratio include:

Asset ClassTickerMER
Women in Leadership FundWOMN0.50%
US SRI Equity ETFDRMC0.29%
US Low Carbon Equity ETFCRBN0.20%
Canadian SRI Equity ETFXEN0.55%
International SRI Equity ETFDRFD0.69%
US Equity Gender Diversity ETFSHE0.20%
Canadian SRI Equity ETFDRMC0.29%

Product offerings


Moka offers only 10 portfolios. You do not have to worry about the type of portfolio to choose because it is selected automatically for you. All you need to do is answer a series of questions with honesty. Through the answers, you provide Moka will be able to determine your financial goals and time horizon and then selects the most suitable portfolio for you.

The money deposited in your account is invested in a number of ETFs. Moka offers additional features, such as socially responsible investing due to ethical concerns or any other limitation. 

Portfolio construction


The app offers the following five portfolios:

  • Conservative Portfolio: Similar to a savings account.
  • Conservative Moderate:  40 percent of your funds go to savings while 60 percent goes to bonds
  • Moderate Portfolio: 40 percent of your funds go to stocks while 60 percent go to bonds.
  • Moderate Aggressive Portfolio: 40 percent go to bonds while 60 percent go to stocks
  • Aggressive Portfolio: 20 percent go to bonds while 80 percent go to stocks.

Portfolio management


Moka allocates experienced portfolio managers from Tactex Asset Management to manage your money and offer online advice to clients. 

All gains, including dividends, are reinvested automatically. Based on the changes in the market trend and account status, Moka automatically monitors your portfolio with the automatic rebalancing technique. It also monitors your risk score to determine whether to adjust your portfolio or stay in course. 

Your portfolio manager will guide you adequately on your investment journey as you watch your investments grow.

Customer service


Moka clients can speak directly to their portfolio managers or customer support staff through live chat on their website or email at [email protected]



Moka offers monthly magazines that teach you to save more, spend less, and invest smarter. The app also offers a wide range of FAQs and “How To” articles to guide you on your financial investment journey. You can also learn more about your financial planning by interacting with your portfolio manager.

Safe and secure


Moka’s security measures are the same as those applied by leading banks in Canada. They include:

  • SSL Connections
  • 256-bit encryptions

Moka also applies security policies that are strict and efficient.

Is Moka right for you?

Although the monthly management fee may seem high, there is no doubt that Moka’s higher fee comes with more efficient and reliable services. However, clients recoup this monthly fee through optimized returns on investments and other Moka strategies that help you to save more.  Anyone who is looking to control spending, build savings, grow wealth, or lower bills should consider opening an account with Moka.