Big Expert robot was made to work on the MT 5 platform with full automation. It is available on the MQL 5 marketplace, where you can choose to backtest, rent or buy according to your liking. The expert advisor was published on 6 March 2021.
How Big Expert Robot Works
For using the robot, you have to purchase or rent it through the MQL5 marketplace. After the payment, the trader must log in to the MQL community on the MetaTrader software. Then, go into the experts’ tab, search your purchased algorithm, and it will be available to download. Finally, place the robot onto the recommended chart and time frame and enable auto trading for proper functionality.
The author of the robot is Renate Gerlinde Engelsberger. On his MQL5 profile, we can see that he has published a total of 2 experts, one indicator, and utility. Renate states that he has over seven years of experience in making all kinds of experts and indicators and does not guarantee profits. The seller is located in Germany and is a manager at a software manufacturer.
Big expert EA has the following features:
- Displays a special tab where you can observe the equity, buy and sell orders.
- FIFO rules are available in the expert advisor.
- Does not use risky strategies such as grid, martingale, and hedging.
- The robot can be operated with low leverage of 1:40.
- The robot has been tested in more than 20 brokers.
The developer does not provide much insight into the working of the robot. It works on the EUR/USD pair, and from the images of backtesting analysis, we can deduce that it is operable on the M15, M30, H1, H4, and the Daily chart. It can also work on other time frames as per the statement of Renate. A minimum deposit of $200 is necessary. There is an option to enable or disable stop loss, take profit, break-even, FIFO, and time filter.
The algorithm works by combining different strategies within its code to predict the future of EUR/USD. It uses dozens of personal indicators and mathematical calculations for examining the market.
The test on the M30 time frame showed that the robot had a drawdown of just 1.27%. It had a win rate of 71.91% for short and 70.58% for long trades with a profit factor of 2.36. The quality of the ticks was 96%. The average profit trade was $26054.36, and the loss was -$26464.82.
Big Expert Trading Results
There are no verified trading records of Big Expert. This raises a lot of red flags for the system. Many algorithms can perform well during the backtest but fail to deliver on live portfolios. This is because backtesting does not take slippage and other potent market conditions into account. Therefore we can take the previous results as a hoax which puts the robot on our bad list.
Pricing & Refund
You can buy the robot for a one-time price of $180. It is also possible to rent it for a month at $80. Looking at the prior results and no live records, it is not advisable to get the system. There is also no money-back guarantee, so do not drain your money on something that has no promise for the future.
Customer reviews are available on the MQL5 community, where real traders complain that the system is full of lies. They render it a scam and say that it is not even worth a single dollar. Traders also say that the backtesting results are good, but there are margin calls on a live portfolio.