BigExpert is a 100% automated Forex EA that is specially designed for the EUR/USD pair. As per vendor claims, it has been tested for more than 11 years using a strategy tester. It was only launched on 6th March 2021, so it hasn’t been trading live for too long now.
Detailed Forex Robot Review
On the MQL5 page of BigExpert, we have been provided with a brief overview of what the system is and how it works. The special features have been highlighted, and some of the EA settings have been listed for the user’s convenience. Some screenshots of backtests have been shared by the vendor, along with a link to an exclusive Telegram channel.
BigExpert is sold by a person called Renate Gerlinde Engelsberger, who is based in Germany. He claims to be a Forex programmer with 7 years of experience in building indicators and EAs. We have no way of verifying this person’s trading experience. However, we can see that Renate has developed other systems in the past, like BolingCustom and Tools RS.
This Forex EA works on the M15, M30, H1, and H4 timeframes. It is compatible with any broker and follows the FIFO rules. The vendor states that you can run this robot with 1:40 leverage. You have the option of setting the lot size between 1-5%, or you can change it manually if needed. Other settings you can modify include Time Filter, BreakEven, Max Orders, Stop Loss, and Take Profit. The recommended minimum deposit is $200.
BigExpert Strategy Tests
BigExpert does not use risky strategies like Grid and Martingale. It has been mentioned that hundreds of different strategies are combined to predict the price movements for the EUR/USD pair. According to the vendor, dozens of different indicators are used by this system, and the Forex market is examined with the help of complex mathematical calculations.
However, we don’t know what these indicators and strategies are. The vendor does not explain what kind of strategy this robot uses, how it analyzes the market, and how it identifies decent entry and exit points. The absence of strategy insight will no doubt be taken as a huge red flag by some traders, and this might deter them from investing in the robot.
Here we have the results for the backtest carried out on the EUR/USD pair for the M15 timeframe with a modeling quality of 96%. As we can see, a total net profit of $66260307.48 was generated by the system, which translates into a gross profit of $89538476.20. The relative balance drawdown was quite low at 9.69%.
During this backtest, a total of 5988 trades were placed by the robot, and out of these, 4782 were won by BigExpert. This represents a high win percentage of 79.86%. The largest profit made during a single trade was $20,000 while the largest loss was $25,000.
There were 32 maximum consecutive wins during this test and only 5 maximum consecutive losses. The profit factor was quite satisfactory at 3.85.
Live Account Trading Results
The vendor has not shared any verified live trading results on the MQL5 page, which is truly disappointing. No serious Forex trader would consider investing in a robot that does not share verified proof of its trading outcomes. Since backtesting data does not provide us with any guarantee of decent live performance, we must consult the live trading result to gauge the true profitability of the Forex EA.
BigExpert can be purchased for $245, and this is not too expensive compared to other Forex robots. There is a rent option available for this system, so you can use it for a month by paying $95. Then there is the free demo version that lets you test the software before you use it for live trading. No money-back-guarantee is promised by the vendor.
We were unable to find any customer reviews for BigExpert on some of the popular review websites like Forexpeacearmy, Trustpilot, Quora, and Myfxbook. Although there are some user reviews on the MQL5 page, these could easily have been manipulated by the vendor, hence we cannot trust them. It is clear that this is a new system with not much of a reputation in the market as of now.
BigExpert is not a Forex EA you can trust right now, because it is a new system that does not share any verified live trading results.
As such, you only have the backtesting data based on which you can judge the robot’s performance, which is not a wise thing to do.