Dobie Lama,
TFSA is a tax free savings account. Maximum contribution of $5000.00 CAD/year. (About to change to $5500/year)
I don't fully understand 401k's but we have something called a RRSP(probably similiar). They are registered retirement savings plans. Anything you contribute throughout the year is tax deductable at the rate of tax you pay based on income. You will pay the tax when you draw from the plan.
RESP is a Registered Education Savings Plan, this is a plan in which you can save towards your childs education. The government contributes 20% of every dollar you save in this plan up to $2000/year. There are many trade restrictions on this account for me. OTCBB's are not allowed.
My normal account is a normal trade account. It is registered and I have to pay cap gains every year. Tax rate I believe is 25% of the cap gains. You can offset your cap gains by investing it in an RRSP.
The TFSA is the best way to go. No worries about cap gains. Take money out whenever you want.
Lately a lot of pennies have been restricted from purchase, atleast with ScotiaBank and CIBC.
News 
Market Data 
Discover 
