How it works is simple, when you signed up you were allotted 1 point if you signed up without using a referral code, and 2 points if you used a friend's unique referral code. The more points you have the higher up the waitlist you’ll be. If you refer someone and they use your referral code you’ll get 3 points. Here is an example::
Person A, B and C sign up without using a referral code. They all have 1 point.
- Person A signed up first so they are in 1st place with 1 point
- Person B signed up second, so they are in 2nd place with 1 point
- Person C is in 3rd place with 1 point
Person C refers their friend, let’s call them Person D. Person D starts with 2 points because they used Person C’s promo code to sign up, and lucky for Person C, they get 3 points since their promo code was used. The new ranking would be
- 1st place = Person C with 4 points
- 2nd place = Person D with 2 points
- 3rd place = Person A with 1 point
- 4th place = Person B with 1 point
So in our example, Person B went from 2nd place to 4th place very quickly. They can also move up the waitlist very quickly by just referring someone who signs up with their unique referral code. Referring one friend (assuming no one else refers) would move them up to 2nd place again!
The MogoTrade app is owned by Mogo Finance Technology Inc., a wholly-owned subsidiary of Mogo Inc. Your investment account is opened with MogoTrade Inc., an order execution-only broker registered with IIROC. Customer accounts at MogoTrade Inc. are protected by the Canadian Investor Protection Fund (CIPF)