BuddyPress.org

I am trying to incorporate the new request membership feature that has admin approval of all membership. But it is confusing. It seems that instead of having anyone can register selected in the vernal wordpress setting that needs to be unchecked. Then that allowed the Buddypress option to be set for admin approval though the manage signup

Is that correct? I am having a hard time getting it to work. Any advise or input is appreciated. I would prefer to use this np built in feature instead of using a plug-in