Moka Review 2026 — Account, Fees & Rates
Our Verdict
Moka is a solid automatic savings app for Quebec beginners, but its flat $3/month fee heavily penalizes small balances and its ecosystem remains limited to investing.
Moka stands out for a very polished mobile experience, exemplary pricing transparency, and strong regulatory compliance with the AMF. The automatic round-up mechanism and visual goals make it an effective educational tool for building a savings habit. However, the flat subscription model of $3/month represents an annual cost of 3.6% on a $1,000 balance, which is prohibitive for beginner savers with small amounts. The absence of robust 2FA and the absence of a full web version are notable shortcomings compared with the competition. Moka remains relevant above $10,000 invested, where the fees become competitive, and for users sensitive to ESG investments.
Fee Comparison Table
Moka offers two plans: $3/month (basic) and $9/month (Plus with CFP access), with no transaction or withdrawal fees. The model only becomes competitive from around $10,000 invested, where subscription fees represent less than 0.36% per year.
Detailed Scores
| Criterion | Score | Weight | Comment |
|---|---|---|---|
| Deposit insurance & regulatory compliance | 7/10 | 10 % | Moka Financial Technologies Inc. registered with the AMF (Quebec) as a portfolio manager. Funds held with an authorized custodian (Computershare). FPE protection (Fonds de protection de l'épargnant) for registered brokerage accounts: up to $1M per category. Not covered by CDIC (not a bank). FINTRAC compliance and annual T5008 tax statements provided. |
| Mobile & web app experience | 8/10 | 10 % | Mobile app available on iOS and Android. App Store rating ~4.3/5 (15,000+ reviews). Minimalist interface, savings profile setup. Key features: automatic round-up on every purchase, scheduled recurring transfers, visual savings goals (progress bar), clear transaction history. Real-time portfolio performance tracking. Fully bilingual FR/EN interface. Some bugs reported during updates (2024-2025) but quickly fixed. No full web version. |
| Complementary products & services | 5/10 | 20 % | TFSA and RRSP registered accounts available (online account opening). ESG/SRI portfolios on all profiles — a notable differentiator in the Canadian market. Moka Plus: access to a certified human financial planner (CFP) included in the $9/month — a unique added value. No chequing account, no debit/credit card, no crypto, no personal loan. Ecosystem limited to automatic savings/investing — requires other accounts for everyday banking transactions. |
| Security & fraud protection | 7/10 | 10 % | TLS 256-bit encryption in transit, data stored with AWS Canada. Secure authentication (strong password + email verification at signup). No robust authenticator-based 2FA publicly mentioned — an area for improvement vs competitors. Compliance with AMF cybersecurity requirements. No major security incident reported since launch in 2017. Bank connections via Plaid/Flinks (credentials not stored by Moka). |
| Customer support | 7/10 | 10 % | Support mainly via online chat and email. Team based in Montreal (QC), mostly French-speaking — a major asset for Quebec users. No dedicated phone line for standard accounts. Complete French-language knowledge base at moka.ai/fr. Active Reddit community on r/PersonalFinanceCanada for general questions. |
| Pricing & fees | 5/10 | 15 % | Basic plan: $3/month (flat, independent of the balance). Plus plan: $9/month. On a small balance ($1,000), the $3/month represents 3.6% per year in subscription fees alone — penalizing for beginners. Only advantageous beyond ~$10,000 invested (0.36% per year). Underlying ETF fees: ~0.15–0.25% MER (iShares, Fidelity). No transaction fees, no account closure fees, no withdrawal fees. |
| Interest rate & yield | 7/10 | 20 % | Return based on ETFs (no guaranteed rate). Available portfolios: Conservative (60% bonds / 40% equities, ~3–5% historically per year), Moderate (60/40 reversed, ~5–7%), Growth (~7–9% long term). ESG/SRI options on all profiles. No equivalent to a fixed-rate savings account like EQ Bank. The return follows the market — neither better nor worse than a self-directed ETF portfolio, but automatically managed. |
| Transparency & governance | 8/10 | 5 % | Very clear fee schedule on moka.ai/fr: basic plan $3/month, Plus plan $9/month — no hidden fees, no asterisks. Portfolio composition published (ETF names, symbols, weights). MER of underlying ETFs disclosed on request and accessible. Annual T5008 tax statements provided. Quarterly statements. Privacy policy compliant with Quebec Law 25 and PIPEDA. AMF: annual public filings available. |
Strengths
- Intuitive mobile interface, bilingual FR/EN (8/10).
- Exemplary pricing transparency: clear fee schedule, no hidden fees, portfolio composition published (8/10).
- AMF compliance and FPE protection up to $1M per category for registered accounts (7/10).
- ESG/SRI portfolios available on all profiles — a rare differentiator in Canada (5/10 products but a notable strong point).
- French-speaking customer support based in Montreal (7/10).
- Access to a certified financial planner (CFP) included in the Plus plan at $9/month — a unique added value.
Weaknesses
- Flat $3/month fee that heavily penalizes small balances: 3.6% per year on $1,000 invested (5/10).
- Lack of robust 2FA via an authenticator app, behind current security standards (7/10).
- Ecosystem limited to savings/investing: no chequing account, debit card, crypto, or loans (5/10).
- No full web version, which limits desktop accessibility.
Who Is It For?
- Investment beginners looking to automate their savings effortlessly.
- French-speaking Quebec residents wanting French-language customer support.
- Investors sensitive to ESG/SRI criteria in their portfolios.
- People with an invested balance of more than $10,000 to offset the flat fees.
- Users wanting access to a certified financial planner (CFP) at low cost through Moka Plus.
Not Ideal For…
- Savers with very small balances (less than $1,000–$2,000) for whom the flat fees are disproportionate.
- Experienced self-directed investors looking for a full brokerage with individual stocks or self-directed ETFs.
- Users needing an all-in-one banking solution (chequing account, debit card, loans).
- Profiles requiring stronger security with two-factor authentication (2FA) via an authenticator app.
Alternatives
- Wealthsimple Invest — Canadian robo-advisor with fees based on the percentage of the balance (0.4–0.5%/year), more advantageous for small balances and offering a complete banking ecosystem (chequing account, debit card, crypto).
- Questrade — Canadian online broker for self-directed investors wanting to buy commission-free ETFs, with TFSA and RRSP available and fees among the lowest on the market.
- EQ Bank — For savers looking for a guaranteed interest rate on a savings account (TFSA included) without market risk, with CDIC coverage up to $100,000.
How this review was conducted
This review is a documentary assessment. It is based on Moka's public interface, its published pricing and publicly available information, as recorded on 2026-06-02. No field test was carried out: no subscription, no purchase and no exchange with customer support took place. Pricing and terms change: check them on Moka's own site before you decide.
The evaluation was conducted by the editorial team on the basis of an in-depth analysis of features, public documentation, regulatory conditions, and available user feedback. The scores reflect a structured review covering eight key dimensions, from security to pricing. No extended real-world test period was carried out, which is a limitation to take into account when interpreting the results.
Depending on the institution, this product falls under federal regulation (OSFI) or under that of Quebec's Autorité des marchés financiers (AMF). See our AMF disclosure page for more information.
Pricing information is indicative — verify current terms on the provider's website before subscribing. Affiliate disclosure.
