I’m hosting a stock market competition starting Monday the 24th with $1,500 in Cash Prizes. Sign up here.
A few weeks ago in San Francisco I met two young entrepreneurs that created Invoost, the first real money stock trading game. It is incredibly simple to start and compete in a game and most importantly learn some basics of investing. Players can enter trading tournaments and compete against one another for cash prizes. The Invoost founders recently moved back the US. They created this game while completing their MBA’s and received funding through European Telecom, Telefonica’s accelerator program.
The trading tournaments structure is simple. Each player pays an entry fee to enter the tournament and receives $10,000 virtual dollars to trade with real time NASDAQ 100 data. Players are ranked against one another in a live leaderboard based on portfolio return. At the end of the tournament, the players with the best returns win a cash prize.
They hooked up the StockTwits API so you can login through StockTwits, see the feed and share your picks.
As for legality, skill games are legal in the majority of states. Fantasy sports games for cash like CBS Prize League and Draftkings are growing. To me, a stock market investing game makes sense under these guidelines, so take a shot at beating me, win some cash and boast. You will definitely learn a little too!