shouldiuse.io

VERDICT

Should I use Mogo?

Canadian personal finance app: money, loans, crypto, investing - mogo.ca

Depends. Okay as a free credit-check and money-tracking app for disciplined Canadians who avoid its lending products. Skip it if you need a loan: users call fees predatory and Fitch rated its credit B-.

Confidence

Medium. Based on 14 relevant public sources; many 'Mogo' search results were unrelated products (dental software, Kenya/Egypt lenders, projectors, bike share) and were excluded.

Ratings

  • Value for money
  • Ease of use
  • Feature depth
  • Support quality
  • Security postureOnly a marketing security page found

Pricing

Not disclosed

ModelNot disclosed
Monthly feesNot disclosed
HardwareNot disclosed

Best for

  • Canadians wanting an all-in-one money app
  • Casual crypto and self-directed investors
  • Guess: free credit-score checkers

Not for

  • Borrowers needing cheap credit — 'predatory' lending complaints
  • Fee-averse users — ~$15/month charges reported
  • Missed-payment-prone users — costs stack up fast
  • Businesses — it is a consumer app, not B2B software

Gotchas - check before you buy

high

Loan costs can run high; some users label the lending predatory

medium

Users report ~$15/month fees; confirm exactly what your plan includes before signing up

medium

Mogo sold its consumer loan book to goeasy — servicing and terms may change

medium

Name collision trap: unrelated Mogo products (dental software, Kenya loans, projectors) pollute reviews — verify

Pros and cons

Pros

  • Some long-time users genuinely like it
  • One app bundles loans, crypto, and self-directed investing

Cons

  • Redditors warn it is 'predatory'
  • ~$15 monthly fees reported by users
  • Credit rated B- with negative outlook
  • Sold $31.9M consumer loan book to goeasy

Sources & method

Analyzed 9/26/2026 - 14 sources - No known vulnerabilities found in the sources reviewed.

official x3review x6security x1news x4

Key stats

  • Value for money: 2/5

    Rating

  • Not disclosed

    Starting price

  • 14

    Sources

  • Analyzed

  • Value for money: 2/5. Users cite ~$15 fees and 'predatory' complaints
  • Ease of use: 3/5. Some users like it; sentiment is split
  • Feature depth: 3/5. Loans, crypto, investing bundled in one app
  • Support quality: 2/5. BBB complaints; payment-failure support questions
  • Security posture. Only a marketing security page found
  • B- Fitch credit rating Outlook negative, Jul 2020
  • TSX: MOGO Listed Public company; SEC 20-F filings
  • $31.9M Loan portfolio sold To goeasy, Feb 2020

Pricing

Not disclosed

Security

No known vulnerabilities found in the sources reviewed.

Full analysis

Based on 14 relevant public sources; many 'Mogo' search results were unrelated products (dental software, Kenya/Egypt lenders, projectors, bike share) and were excluded.

Fine as a free Canadian money app; risky for borrowing — users allege predatory fees, credit rated B-.

Methodology

Based on 14 relevant public sources; many 'Mogo' search results were unrelated products (dental software, Kenya/Egypt lenders, projectors, bike share) and were excluded.

Sources

  1. My review of Mogo Canada : r/PersonalFinanceCanadareddit.com
    review
  2. STAY AWAY FROM MOGO.CA THEY ARE JUST A PREDATORY...reddit.com
    review
  3. Read Customer Service Reviews of mogo.ca - Trustpilottrustpilot.com
    review
  4. Mogo | BBB Complaintsbbb.org
    review
  5. Fitch Affirms Mogo at 'B-'; Outlook Negativefitchratings.com
    news
  6. goeasy Purchases Mogo's $31.9M Consumer Loan Portfoliogoeasy.investorroom.com
    news
  7. Mogo (company) - Wikipediaen.wikipedia.org
    news
  8. Mogo Inc. Form 20-F (SEC)sec.gov
    official
  9. Mogo Launches MogoCryptosec.gov
    news
  10. Mogo: Intelligent investing - App Storeapps.apple.com
    official
  11. Mogo Financial: Deep Dive Review of this Canadian Fintechinflationcalculator.ca
    review
  12. 6 Loans Like Mogo in Canada - finder.comfinder.com
    review
  13. Product security page - mogo.camogo.ca
    security
  14. Mogo.ca (official site)mogo.ca
    official

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