BigExpert is a Forex expert advisor that is sold on the MQL5 website. It was launched on 6th March 2021, so it is a relatively new system that does not have a long track record. According to the vendor, this has been tested for more than 11 years using a Strategy Tester.
For this robot, the vendor does not provide any strategy explanation. It does not have an impressive win rate and overall, we think it is a waste of money.
What is BigExpert?
BigExpert is a system that trades the EUR/USD pair for the M15, M30, H1, and H4 timeframes. According to the vendor it works with any broker. While placing trades with it, you should make a minimum deposit of $200.
The vendor claims that this EA has been tested with more than 20 brokers worldwide. BigExpert follows FIFO rules and you can run the robot with a leverage of 1:40. You can have the option of customizing certain settings like lot size, take profit, stop loss, maximum orders, and break even. The lot size is 1-5% by default.
Official BigExpert Website
There is no official website for BigExpert and the only source of information for this robot is the MQL5 website. Here, the vendor has highlighted the principal features of the EA and explained in brief how it operates. We also have the link to a Telegram channel, and several screenshots showing the backtesting results.
This EA is sold on the MQL5 website by Renate Gerlinde Engelsberger, a German Forex programmer with 7 years of industry experience. We have no way of verifying the credentials of this person, and we don’t know who else might be working with them. They have also built an indicator called BolingCustom and a trading tool known as Tool RS.
Since this EA is not sold by a reputable company, we don’t have high expectations from it. It looks like one of those systems that show decent results with historical data, only to fail in the live market.
How Does BigExpert Work in MT5 Terminal?
BigExpert combines numerous strategies to predict the price movement for the EUR/USD pair. It uses several indicators and complicated mathematical operations to analyze the Forex market. Take profits and stop losses are used with every trade and dangerous strategies are avoided.
Pricing & Refund
You can buy BigExpert the MQL5 marketplace for $160. A rent option is also available where you have to pay $60 on a monthly basis. No money-back guarantee is offered for this EA, which makes it a risky investment. The price of the robot is pretty close to the market average.
One major red flag about BigExpert is that it uses an unknown strategy. The vendor has not provided any explanation for the trading strategy, apart from mentioning that the system uses indicators. We have no idea what these indicators are or how they are used.
This backtest, conducted on the H1 timeframe, yielded a total profit of $19,573,144.33. The win rate for this test was 63.62% and the profit factor was 1.72. We can see that the relative drawdown was pretty high at 32.21%, which tells us that the robot follows a risky approach.
This is a live trading account for BigExpert on the Myfxbook website. No trades have been placed through this account since 3rd April 2021, so we can consider it inactive. It was launched on March 19, 2021, and to date, only 13 trades have been placed through it. BigExpert lost 7 trades out of 13 during its short trading history, which means it has a low profitability of 46%.
What Customers Say
There are no user reviews for BigExper on third-party websites. We found several customer reviews on MQL5 where the users have complained about unsuccessful trades. It is quite obvious that this robot does not have a decent reputation.
What We Like and What We Dislike
|Backtesting data shared||Bad reviews from customers|
|No money-back guarantee|
|Discontinued trading results|
Trading Results1/5 Awfully