That's correct,unless you buy with settled cash and sell the same day then you have to wait 3 days for the buy and the sell to settle,so you don't have access to the funds for 3 days.
real...I have ETrade and they usually code trades margin even if you are buying with cash. It helps them get more trades since the money is readily usable. One time I had to tell them to recode a margin trade to a cash trade.
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