BigExpert claims to have been tested for more than 11 years using a strategy tester. According to the vendor, the system refrains from using dangerous strategies and employs appropriate risk management measures.
This robot was launched on 6th March 2021 and is currently being sold on MQL5 for $160. This is pretty standard compared to the other Forex EAs on the market, however, there is no money-back guarantee. You have the option of renting the EA for 1 month by paying $60. A free demo version of the system is also available.
BigExpert Trading Strategy
BigExpert does not use risky strategies like Grid and Martingale. It uses take profit and stop loss with every trade and mainly deals in the M15, M30, H1, and H4 timeframes. This is not a broker-sensitive EA, so you have the option of signing up with any broker of your choice.
By default, the lot size lies between 1-5%, but you have the option of changing it manually. The vendor has mentioned that the robot uses hundreds of different strategies to forecast the price movements for the EUR/USD pair. It performs advanced mathematical computations to analyze the Forex market.
While the vendor has stated that the system uses dozens of indicators, they have not mentioned what these are. We don’t have a clear explanation of the trading strategy used by this robot, which is quite disappointing. Seasoned Forex traders always look for some technical information related to the trading strategy and the absence thereof might deter some of them from investing.
BigExpert Features
For this robot, you are advised to make a minimum deposit of $200. The vendor maintains a Telegram channel where you can post your questions and problems. If you have purchased the robot and wish to join this group, you need to send a message to the seller.
This EA has been tested on more than 20 major brokers. It complies with FIFO rules and it is said that you can run it with a 1:40 leverage. BigExpert has a time filter that you set on or off. You can also set a limit on the maximum number of orders that can be placed by the robot.
BigExpert Backtesting Results
Here we have the backtesting results for BigExpert EA. This was carried out with a modeling quality of 96% for the M15 timeframe. A total of 5988 trades were placed during this backtest, out of which 4782 were won. This means the robot had a win rate of 79.86% for this backtest. The total profit generated was $66260307.48.
We can see that BigExpert had a low relative drawdown of 9.69%. It managed 32 maximum consecutive wins and only suffered 5 maximum consecutive losses. The profit factor was 3.85, and this is higher than what most systems have.
BigExpert Live Trading Results
Here we have the trading results for BigExpert published on the Myfxbook website. It started trading on March 19th 2021, and to April 2021 only 13 trades have been placed through this account. Among those 13 trades, only 6 have been won, which represents a low profit rate of 46%. So as we can see, the robot hasn’t been trading live for too long, and during its short trading history, it has suffered quite a few losses.
As a result, the time-weighted return for this account stands at -0.53%, while the daily and monthly returns are -0.01% and -0.53% respectively. Some of the key parameters like Profit, Equity, Balance, Deposits and Withdrawals have been hidden, which is a bit odd.
BigExpert Reputation
BigExpert has been developed by Renate Gerlinde Engelsberger, a Forex programmer based in Germany who has 7 years of experience in developing indicators and EAs. This person has previously developed a trend indicator called BolingCustom and a trading tool known as Tool RS.
On the official MQL5 page, there are several customer reviews on BigExpert. But since these are not published on a third-party website, we cannot consider them authentic. The vendor could have manipulated these reviews by paying the users. Since there are no user reviews on websites like Trustpilot, Quora, Myfxbook, and Forexpeacearmy, we can say that this robot does not have much of a reputation.
BigExpert Review Summary
- Strategy – 4/10
- Functionality & Features – 5/10
- Trading Results – 3/10
- Reliability – 3/10
- Pricing – 5/10
Conclusion
In the end, we would like to say that you should not invest in BigExpert. This robot has verified trading statistics, but no trades have been placed through the account since March 29, 2021. Furthermore, the vendor has not specified what kind of strategy the EA uses, which is yet another red flag.
