Lindfield
You are incorrect when you say that E*Trade has no such grace period, ie: no such thing as T+3.
If you sell shares then, yes, the money is immediately available for reinvesting/ buying. However if you sell and want to withdraw the cash, then you have to wait for the expiry of 3 trading days.
Not certain about other brokers.
Cheers
S aandminer
how does selling work?, page-7
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