BigExpert is a Forex expert advisor that was launched on July 1, 2021. It is sold on the MQL5 marketplace. The developer behind this system is a German developer called Renate Gerlinde Engelsberger. They claim to be a Forex programmer with 7 years of experience in manufacturing indicators and EAs. However, they have been selling products on MQL5 for only one year. We don’t know anything else about the developer and the people they work with. They don’t have any EAs other than this one.
BigExpert strategies and tests
This EA is a 100% automated expert advisor that trades in the GBP/USD currency pair. It does not use risky trading strategies like grid and martingale. For risk management, it uses take profit and stop loss. The developer has tested the expert advisor for more than 11 years using the strategy tester.
Although BigExpert is compatible with most timeframes, the vendor recommends using it on M15, M30, and H1 charts. The minimum deposit required to get started with this EA is only $50, which means it is suitable for novice traders who might not be comfortable with large deposits.
Since the robot is not broker-sensitive, you can sign up with any broker of your choice. The vendor recommends using leverage of 50 and above. BigExpert combines hundreds of strategies to predict the GBP/USD pair. It also uses dozens of personal indicators and complicated mathematical calculations to examine the Forex network. The developer has not clearly explained the strategies used by the system and they haven’t mentioned what indicators it uses. Thus, it is not possible for us to analyze the effectiveness of the trading strategy.
As per the developer’s claims, the EA has been tested with over 20 top brokers. It follows FIFO rules and has flexible settings. You can set the trade opening and closing time, manual lot size, max spread point, risk percentage, break-even point, take profit point, and stop-loss point. It is also possible to program the EA in such a way that it avoids trading on certain days of the week.
This backtest was conducted on the M15 timeframe. The EA used an initial deposit of $1000 to conduct 4752 trades, winning 67.09% of them and generating a total profit of $536668582.15. It had a decent profit factor of 1.97 and a relative drawdown of 30.80%. Looking at the high drawdown, we can tell that the robot was following a high-risk strategy. There were 20 maximum consecutive wins and 7 maximum consecutive losses for the testing period.
BigExpert live trading account review
The vendor has not shared the verified trading statistics on the MQL5 product page. After conducting some research of our own, we were able to find this demo trading account on Myfxbook that has been active since November 10, 2021.
The EA has conducted only 21 trades through this account, winning 36 of them. This means it has a high win rate of 86%. However, this is based on short trading history. The win rate is significantly higher in comparison to the backtest. Here also, we can see that the drawdown is quite high at 30.37, indicating a risky strategy. While the daily and monthly gains are 1.31% and 30.37%, respectively, the profit factor is 1.07.
Looking at the trading history, we can see that the robot is prone to suffering heavy losses. It trades with a lot size of 0.13-0.23. The average win and loss are 16.60 pips/$22.32 and -72.92 pips/-$125.69, respectively.
At $100, BigExpert is cheaper than most EAs. However, the vendor does not offer a money-back guarantee.
Is BigExpert a good system to rely on?
This EA has a very short trading history. There is no protection of a refund policy and the developer does not explain the trading strategy properly.
There are no reviews for this EA on third-party websites. The ones on MQL5 cannot be considered authentic.
Since there is no official contact information, the only way to get assistance is to contact the developer via MQL5.