I am new to stocks and I am using an application that's called Wealthsimple. The application shows different account types (non-registered, TFSA, and RRSP) but I don't understand really what are the differences.
I read online that the differences are related to taxation (like here: Investments beyond RRSP and TFSA, in non-registered accounts?) but still, it's not clear for me. I am living in Canada and I am new to the taxation system as I used to live in a country that has no taxation system.
My goal is to buy stocks and sell them (short-term trading). So, Which account type should I use? Can someone please give an example of the differences?
Can I use the non-registered account to trade and withdraw my money when I want?