Is this question grammatically correct?

Is this question grammatically correct?

Something seems off about this sentence, but I can't put my finger on it.
The sentence in question:
Which countries is Nicaragua competing with?
Alternatives I considered:
With which countries is Nicaragua competing?
Who is Nicaragua competing with?
Open to suggestions, including the "the first sentence is fine", but if
there's a better way to ask this question, I'd like to know what it is and
why it is preferred (what rules apply, etc.)