BigExpert is a popular Forex robot that was actually made for the EURUSD pair. The EA does not do martingale and Grid and the developer claims that it has more than 11 years of strategy testing.
This review covers the popular BigExpert MT4/MT5 EA, which is promoted as EURUSD currency pair expert advisor that is based on a stop-loss and take-profit principle.
Checking for the performance and settings, we saw that the vendor provided a couple of backtesting screenshots but did not utilize a 3rd party performance tool like myfxbook.com
The vendor is Renate Gerlinde Engelsberger with BigExpert and some free tools in his profile. The BigExpert we are reviewing today was published on 6 March 2021 and it is running on version 1.9 updated on 2 April 2021. The total number of demos downloaded is 1871 and the vendor is generous to allow for 15 activations. Below is a screenshot of the seller’s recommended settings.
For more default settings and values see below
They said that the BigExpert has been tested in more than 20 major brokers in the world. Some of the other special features of this Forex robot include
- This expert has been tested for more than 11 years in Strategy Tester.
- Fifo rules are followed by this expert.
- you can run Expert Even with a 1:40 leverage.
- No high risk, No Martingale, No Grid, no Hedge.
Timeframe: M15, M30, H1, H4 , D1
Minimum deposit: 200 USD
Brokers: Any broker
The vendor has provided some lines to highlight the strategy of this expert advisor and how it works. They tell us that the EA ”combine hundreds of different strategies to predict the EURUSD currency pair, use dozens of different personal indicators, complex mathematical calculations to examine the Forex network”. For these reasons, they feel that this Forex robot is the Best Forex Robot.
When you look closely, you will notice that this EA will be as intelligent as the developer because there is no obvious strategy and trade methodology depicted here. The complex mathematical inputs can only be controlled by the developer himself.
The Forex market is very volatile and there are a lot of variables that need to be put in place.
The vendor provided some backtesting and trading snapshots to represent EA performance. While we see these as impressive and the snapshot shows a positive equity balance, it is hardly reliable as a performance result.
The problem with this kind of result presentation is that it is very personal and lacks 3rd party verification. It is also easily manipulated.
Account equity can be positive or negative when a trade is still open. The vendor can easily target trade when the equity is positive and make a snapshot for us to see. This kind of result is not reliable and needs updating.
Compare Expert Advisors
Many advisors demonstrate excellent results when tested on one currency pair, but perform poorly on others. It is better to use the advisor for those instruments that you have tested on.