Are Investment Bankers allowed to join paper trading competitions?
Got an idea I want to build into my app, but do not know if it is legal.
I know tons of bankers not allowed to trade particular stocks or just is such a headache to do, it is never worth it.
My question is, if I were to set up a paper trading side of my app. $50 buy in, 10K prize, competition spans 1Q, would bankers be allowed to participate in the competition where there are cash prizes??
My thought is theres so many people out there that want to trade actively, but not allowed to. This may present them a fun alternative.
Anyone out there that can give me some insights here ??