What is Wealthsimple Crypto? Wealthsimple Crypto is a crypto trading platform managed through Wealthsimple Trade. It features completely self-directed trading with commission-free buying and selling (sort of, keep reading to learn more). Investors can begin with any amount, even if it’s only $1. Wealthsimple Crypto’s list of available cryptocurrencies has expanded exponentially over its first year and keeps growing. As of January 2023, Wealthsimple Crypto has over 50 kinds of cryptocurren...| Million Dollar Journey
Helping Canadians with Personal Finance Since 2006 Learn how to save money, build an investment portfolio, and become financially independent - from a middle-class Canadian who has actually done it! Get Started Index Investing Dividend Investing Banking Robo Advisor Retirement Portfolio Smith Manoeuvre Tax Minimization Reviews Credit Cards All Categories As Featured On Toronto Star Forbes CBC The Globe and Mail Global The Financial Post Most Recent Articles all Articles Best 2025 Broker Promo...| Million Dollar Journey
Any Canadian who’s traveled to (or ordered something from) the US knows about converting CAD to USD. It’s never fun to watch every dollar of your hard-earned money suddenly turn to $0.75 (or less!), and with additional foreign exchange fees, it can really add up. And exchange rates aren’t going anywhere. The cost of one US dollar has remained above $1.25 CAD since 2018. At the time of writing (mid-2023), $1 USD costs $1.34 CAD. The bright side is that anyone already holding USD or loo...| Million Dollar Journey
There may come a point during the year that you max out your registered Canadian investment accounts, or if you are living abroad, there might be certain restrictions on what you can contribute to tax-advantaged accounts. The great news is that no matter what your situation is, you can still open a non-registered tax efficient ETF portfolio. If you are living and earning an income abroad, or have maxed out your TFSA and RRSP, you may not be able to contribute to an RRSP or a TFSA. Read on to ...| Million Dollar Journey
The recent 2025 Qtrade Promo Offer Code is one of the main reasons we have them at the top of Best Canadian Online Broker rankings. Every year the DIY brokerages put their best foot forward during the first few months of the year because they know it’s when Canadians pay the most attention to their finances. This is the first year I’ve seen an offer quite this good. (Last’s year’s Qtrade promo was also solid - but this one tops it for the folks with under $250,000 to invest.) To lock ...| Million Dollar Journey
What is RBC Direct Investing? The Royal Bank of Canada (RBC) was one of the first banks in the country to pioneer DIY investing for the everyday investor. With RBC Direct Investing, you can trade Canadian and US stocks, ETFs, mutual funds and bonds. You can fund and manage your registered investment accounts (TFSA, RRSP, RRIF, RESP and more) and access a variety of investing tools to help you make informed decisions. If you already have an account with RBC, then opening an RBC Direct Investin...| Million Dollar Journey
Moving from the accumulation stage of my professional career, to withdrawing investments in early retirement was more difficult than I would have predicted a few years ago. For those who haven’t been following me since I started writing Million Dollar Journey back in 2005, I have slowly-but-surely detailed my rise from a very average net worth, to building an investment portfolio that allowed me to reach complete financial independence. Here are some of the key articles that I’ve written ...| Million Dollar Journey
When I first wrote about the Smith Manoeuvre (18 years ago!) - a method to transform your mortgage into a tax-deductible loan - I never imagined it would become one of our most popular topics, racking up hundreds of comments. Even though I kicked off my own Smith Manoeuvre at practically the worst time in the last half-century (back in 2007), it still turned out pretty well for me. As we move into 2025, it’s becoming clear that high mortgages might be coming down a bit, the days of ultra-lo...| Million Dollar Journey
We've been writing about low-cost ETFs in Canadian index portfolios since 2008. Below is our 2025 update. ETFs, or exchange-traded funds, first entered the Canadian market over a decade ago. From day one, they impressed us as an excellent tool to help you build a low-cost, diversified portfolio. As time has passed, ETF providers have created tools that make index investing easier than ever. All-in-one ETFs, or “portfolio ETFs” mean that you’ll never have to worry about rebalancing you...| Million Dollar Journey
Many people love investing in dividend stocks for their predictable income stream. One of our most popular articles is our best Canadian dividend stocks list. Many investors are looking in particular for the best high yield Canadian stocks, so each year we provide the updated list below. You may notice we haven’t picked the stocks with the absolute highest dividend payouts and may be curious why we wouldn’t simply load up on those. Well, different investors have different goals. Some in...| Million Dollar Journey
Options are one of the best ways to capitalize on market trends and enhance profitability - if you get your prediction right. While buying options has a limited downside on a per contract basis, it is also one of the “best” ways to lose your money in the market - or as WSJ put it “More Men are Addicted to the Crack Cocaine of the Stock Market”. Options trading is not for the faint of heart, and shouldn’t be used by novice traders. Honestly, the average Canadian investor has no need ...| Million Dollar Journey
What is Wealthsimple Trade? Wealthsimple Trade is an online brokerage platform that allows you to build and manage your own investment portfolio. It’s one part of Wealthsimple, a company with 1.5 million customers and $8.4 billion in assets under management. Wealthsimple has been around since 2014 and Wealthsimple Trade launched in 2019. Unlike Wealthsimple Invest and robo-advisors like it, Wealthsimple Trade is a 100% active investing platform. Investors with Wealthsimple Trade research, c...| Million Dollar Journey
Canadians have fantastic options when it comes to registered accounts. Registered accounts are beneficial for many reasons, the main reason being that they are tax advantaged. Tax advantage accounts are those that allow you to grow your money tax-free or allow you to defer paying taxes until later. However, all registered accounts are not created equal, and before you invest, you want to read our detailed TFSA vs RRSP guide to better understand what these two registered accounts can do for yo...| Million Dollar Journey
What is TD Direct Investing Brokerage? The TD Directing Investing online brokerage is a solid option, even though it doesn’t quite make it to the top of my list of Canada’s best online discount brokerages. As Canada’s second biggest bank (and one of our largest companies, period) it’s probably not a surprise that the TD trading platform has evolved over the years and consistently gotten better. The problem (and it’s a problem not unique to TD Direct Investing, as the other Big Bank ...| Million Dollar Journey
NBDB has made changes over the last two years to make their fee structure competitive among other discount brokers, and have now dropped their commission fees altogether for those trading on their online platform. It seems as though they have taken customer feedback to heart and made improvements to make those customers want to stay as well as attract new ones. In 2019 they were ranked dead last, 8 out of 8, by J.D. Power, but merely one year later in 2020, they moved up considerably to 4th o...| Million Dollar Journey
Once the new disruptive force on the online discount brokerage scene, Robinhood’s “gamification” of commission-free stock trading changed the way millions of young people thought about the stock market. Robinhood’s commission-free trades, as well as their sleek and easy-to-use interface, appealed to first-time investors. However, the company has been vilified since it went public, perhaps most notably the star-laden film “Dumb Money” in 2023. Unfortunately for Robinhood investor...| Million Dollar Journey
I’ve been writing about the “Dogs of the TSX” Canadian investing strategy for about twelve years now. I can’t claim that I was the creator of the idea though. In fact, no Canadian can really lay claim to the “Dogs’” principles. The Dogs of the TSX can trace its roots back to the “Dogs of the Dow” strategy in the USA. The first place that I saw the idea being applied to Canada was when MoneySaver magazine started writing about the BTTSX or Beating the TSX Dividend Stock Strat...| Million Dollar Journey
An RESP, or Registered Education Savings Plan, is a registered tax-deferred investment account designed to help pay for a child’s education. In other words, RESPs are the best possible way to pay for your child’s eventual college and/or university bills! RESPs are eligible for government grants (re: Free Money) of up to $7,200. In this post, we’ll fill you in on all the basics of RESPs, from how (and where) to set up an RESP, and how to maximize your RESP contributions. What is an RES...| Million Dollar Journey
With the government having launched the First Home Savings Account (FHSA) in 2023, more first-time home buyers should really be looking to take advantage of the tax-free benefits of the FHSA in 2024. The idea is obviously to make it easier for Canadians to buy their first home. In addition to the more straightforward benefits, there are a couple of unique ways that you can use your FHSA account. It’s also important to get the details right (especially when combining your FHSA with a partner...| Million Dollar Journey
What is Wealthsimple? Wealthsimple was founded back in 2014 by Michael Katchen, Brett Huneycutt and Rudy Adler. I gotta say that I really liked the company more in its first few years than in its current iteration. For the first five years of its existence, Wealthsimple was solely focused on the product that is now known as Wealthsimple Managed Investing. Some people called this a “robo advisor,” others called it a “automated wealth manager” – whatever you wanted to call it, Wealths...| Million Dollar Journey
If you have been like many investors and sticking with an easy, passive all-in-one ETF, but looking to try out something a bit more active, investing in commodities in Canada could be just the thing to scratch that itch. Commodities are consumer products such as energy, metals and agriculture tend to fare particularly well in times of high inflation. As inflation rates continue to rise worldwide, we can expect commodities to continue to surpass stock returns. So, now is the perfect time to co...| Million Dollar Journey
There is a TON of investment advice out there. Some should only be taken into consideration after a thorough investigation and planning. Some - like contributing to a TFSA - is just sound advice that should be acted on quickly. The reason? Two words: tax free. That is not something you hear often, and that’s why we want to help you start contributing to your TFSA as quickly as possible to achieve maximum money saving and investment earning results. If you turned 18 on or before 2009...| Million Dollar Journey
For income-oriented Canadian investors the choice between a Bond (or Bond ETF), a GIC, or a high interest savings account has become more important than ever. With interest rates at historic lows (for a little while longer anyway) choosing the best option for the “safe, low risk investing” part of our portfolio can make a big difference! Read on to find our picks for the best Bond ETF, the best GIC rates in Canada, and our pick for top Canadian high interest savings account. Best Cana...| Million Dollar Journey
The best stock trading apps in Canada have really improved since I started Million Dollar Journey seventeen years ago. New fintech companies have really pushed the old school banks to lower their fees, improve their usability, get more efficient at bringing on new customers, and just creating a better mobile stock investing experience. While I’m still a big advocate of using a desktop for DIY investing, (hence my focus on that platform for my best online brokers in Canada comparison) I have...| Million Dollar Journey
Most Canadians never stop to consider when low risk investments are the most appropriate use of savings versus when higher-risk long-term investments are the better route. The truth is that most Canadians choose their investment by “gut feel.” You likely don’t need me to tell you, that’s not an ideal process. When choosing between higher risk and low risk investments, it’s important to consider your personal goals and risk tolerance. Personally, I think that if you need your money i...| Million Dollar Journey
Long-term investing is one of the most powerful ways to grow your wealth. As the name implies, long-term investing means that an investor buys an asset with the intent to hold it for some time. The time frame can be years or even decades. Over time, long-term investing has the potential to produce excellent returns due to the magic of compound interest. While this strategy might not appeal to everyone, especially those with a high risk tolerance, it has historically proven to be an effectiv...| Million Dollar Journey
For many DIY investors the Wealthsimple vs Questrade comparison comes down to fees - but there are several other points of comparison that are worth considering given how important choosing your trading platform is. While both Questrade and Wealthsimple are both included amongst my personal rankings of the best Canadian online brokers, there are some major differences between the two platforms. Quick Note: It’s important to understand right from the beginning that Questrade and Wealthsimple...| Million Dollar Journey
Because I’ve been writing about dividend investing for nearly two decades now, I get a lot of inquiries every month about the best Canadian dividend ETFs vs the best dividend stocks in Canada. Obviously Canadians love their tax-efficient dividend income. The consistency of having those dividend payouts hit their accounts allows investors to better control their behaviors and stay focused on the long-term. What the dividend ETFs vs individual stocks decision ultimately boils down to for mos...| Million Dollar Journey
A Real Estate Trust (REIT) ETF is the most straightforward way to invest in real estate without becoming a landlord yourself or spending time researching the 30+ individual REITs on the Toronto Stock Exchange. This article will give you all the details about REIT ETFs: What they are and how they diversify your portfolio How they’re different from Real Estate Trusts (REITs) How to recognize good REIT ETFs Which Canadian REIT ETFs are the best picks for 2024 Top REIT ETFs in Canada: Quick...| Million Dollar Journey
If you’ve started your research on investing, but still aren’t quite sure how or where to get started, you are not alone. Plenty of almost-investors get stuck at the starting line for reasons like not feeling educated enough, feeling like they don’t have enough money to start investing, or simply feeling unclear on which type of investment to choose. When it comes to investing, the best time to start is now, and index investing is the perfect way to begin. It’s simple, easy to manage,...| Million Dollar Journey
Given the realities of skyrocketing interest rates it’s no wonder that interest in Canada’s Best Cash ETFs, high interest savings account (HISA ETFs), and money market ETFs has significantly increased as well. While Cash ETFs aren’t exactly the same thing as money market ETFs, the two are very similar. The terms high interest savings account ETF and Cash ETF on the other hand, mean exactly the same thing. While cash ETFs are a solid investment (more on that below), you really need to c...| Million Dollar Journey
Investing in Canadian REITs can help investors include real estate investments in their portfolios without radically changing their way of life. Sure, you can buy a property and become a landlord, but if that’s not your bag (or if you don’t have that kind of time, energy, and, let’s face it, cash), you can invest in Canadian REITs (Real Estate Investment Trusts) and gain exposure to the real estate market in bite-sized chunks. Canadian REITs are fairly easy to invest in, given that they...| Million Dollar Journey
There is a reason why so many of Canada’s best utility stocks are also on our overall list of best dividend stocks in Canada: They are natural oligopolies/monopolies, meaning that can pass along increasing costs almost instantly, and have really solid yields for income-seeking investors. This combination makes them a natural fit for Canadian investors looking for inflation hedge stocks. Some people consider Canadian utility stocks “boring” compared to high volatility “get rich/poor qu...| Million Dollar Journey
The best free stock trading apps in Canada can help you cut fees to the bone, and DIY invest yourself to a substantial nest egg. That said, there is no such thing as a truly free stock trading in Canada. We’ll go into detail about what “free” really means when it comes to investing in Canada, and how to compare the various DIY investing platforms in Canada. Since trading apps like Robinhood came onto the scene, DIY investment has given investors control over how they invest, and how m...| Million Dollar Journey
The concept of a safe withdrawal rate (and the 4% rule) is a key planning tool for Canadians of all ages. After all, if you don’t have a general withdrawal plan, how can you know how much you need to save in the first place? If you have been reading MDJ for years, you already have an idea of how to use a Canadian online broker account to DIY-invest your way to a solid nest egg. Now you’re planning for retirement (whether it’s 20+ years away or next year) and you’re wondering how to ...| Million Dollar Journey
You likely already know that investing in an RRSP is one of the best, most tax efficient ways to save for retirement. The good news is that if you or your common-law partner or spouse have unequal incomes, you can open and contribute to a spousal RRSP account. In doing so, you can maximize the benefits of an RRSP account for you and your spouse, no matter if one of you is not earning an income or earning much less. Read on to learn more about how a spousal RRSP account works, what the tax i...| Million Dollar Journey
Canada’s all-in-one ETFs (also called portfolio ETFs) have been the single most important investment product innovation since I’ve started writing about this stuff nearly two decades ago. The Vanguard, iShares, and BMO all-in-one ETFs are the perfect marriage of index investing strategy, convenience, asset allocation math, and behavioural safeguards. These ETFs - which are actually a collection of smaller ETFs - are so diverse that they actually include several of the Best ETFs in Canada,...| Million Dollar Journey
Investing in Canadian Dividend Kings (sometimes known as Dividend Aristocrats) tends to come back into fashion when bond yields and GIC rates start to go down. With safer assets generating so little income, dependable dividend payers begin to look more and more attractive. Of course, staying committed to dividends can be a challenge when stocks like Nvidia are soaring. The real test for any dividend investor is sticking to the plan through thick and thin. Click here to jump directly to my 202...| Million Dollar Journey
When I first started writing about Canadian personal finance twenty years ago, my list of the best ETFs in Canada could fit on a napkin. There were no Canadian all-in-one ETFs, no catchy tickers, and definitely no slick marketing campaigns. ETFs were basically niche tools used by hardcore index investors and a handful of spreadsheet-loving DIY types. Fast-forward to today, and the landscape has completely changed. While I still hold a solid chunk of Canadian dividend stocks in my portfolio, l...| Million Dollar Journey
If you’ve been searching for the best rated discount brokerages in Canada, it’s likely that the Wealthsimple vs. Qtrade debate has popped up on your radar quite a few times. They are both good options for DIY investors looking for an easy to use and low-cost way to invest, but they definitely have some major differences you’ll want to know about before deciding which one is best for you. We’ll be breaking it down for you in this article by looking at Qtrade and Wealthsimple’s fees, ...| Million Dollar Journey
What is Desjardins Online Broker? When it comes to Canadian online brokers, Desjardins Online Brokerage isn’t typically one of the first names that comes to mind. That being said, in the spirit of providing a full selection of broker reviews, our MDJ editorial team looked under the hood of one of Canada’s original discount brokerages. Desjardins is best-known among those living in Quebec and Ontario; however, it’s also active in western Canada as well. It often goes by the name “Disna...| Million Dollar Journey
Is BMO Investorline Safe and Trusted? In a word, YES. As one of Canada’s oldest and most trusted companies (founded in 1817) the Bank of Montreal is as safe, trusted, and legit as you can get. InvestorLine has been around longer than the internet - BMO introduced self-directed trading way back in 1988 before moving online in 2000. That’s an impressive history! BMO InvestorLine is IIROC regulated and CIPF insured. They use 128-bit encryption and multi-factor user authentication to keep y...| Million Dollar Journey
When I first launched Million Dollar Journey in 2006 and started writing about Canadian online brokers, the Qtrade vs. Questrade rivalry was already heating up. Fast forward nearly two decades, and not only has the rivalry intensified, but these two platforms have also solidified their positions as the leaders of Canada’s brokerage scene (leaving the big bank brokerages even further behind). As a DIY investor for the last 20 years, I’ve had firsthand experience with over a dozen brokerage...| Million Dollar Journey
Is Questrade Safe & Secure? One of the most common questions that I have gotten in the comments below is: Is investing my money through a Questrade online brokerage account safe? Is Questrade as safe as RBC, TD, CIBC, ScotiaBank, and BMO?- MDJ reader The answer: Yes! Questrade is fully regulated by two key financial oversight bodies in Canada: the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF). These aren’t just formalities - they’re fu...| Million Dollar Journey
As we look ahead to summer and the second half of 2025, it’s time for an updated look at the Best Online Brokerages in Canada. With RRSP season in the rearview mirror – and what might be shaping up to be another round of “tariff season” drama ahead – now’s the time to lock in the easy DIY investing wins. I’ve been writing about Canadian online brokers for nearly 20 years, and the changes in the space have been massive. Fees have plunged, platforms are smoother than ever, and com...| Million Dollar Journey
Picking the best Canadian Dividend Stocks for 2025 isn’t an easy task! After such a stellar year in North American equities in 2025, there is much more room to move down than up. That said, my dividend stocks portfolio is all about long-term cash-flowing companies with large financial moats to protect them. Each month I take a look at the stocks that I highlighted at the beginning of the year, and I focus on the following key dividend stock comparison points: Dividend Yield Dividend Growth ...| Million Dollar Journey