Big Expert is a trading advisor that was published on the MQL5 community about a month ago – on March 6, 2021. The developer is Renate Gerlinde. The current version of it is 1.9, updated on April 2, 2021. The system was demo downloaded 1538 times.
Features
The first we see is a 65% discount which is a scam. It’s because the system can’t cost $1000. Is the discount fake?
The robot has some features that need to be explained:
- Big Expert works fully automatically on the terminal.
- The robot works with EUR/USD only.
- The system doesn’t perform risky strategies like Grid or Martingale.
- It protects all trades with Stop Loss and Take Profit level placing.
- The EA was backtested on the past 11-year data.
- The system trades on the M15, M30, H1, and H4 time frames.
- The minimum deposit requirements are $200.
- We’re free to use the system with any broker we want.
- The risks should be not higher than 5%.
- We can disable Take Profit and Stop Loss placidity we want.
- There’s an option of the unique magic number to find its trades, among others.
- There’s a time filter to avoid opening deals during the high-impact news.
- The system uses “hundreds” of strategies to predict where the market goes. Of course, it’s a lie. There should be just several strategies and analysis of 3-20 indicators maximum.
- There are complex mathematical calculations to examine the Forex market.
- The system was tested on the data from more than 20 brokers.
- It follows FIFO rules in trading.
- The leverage can be (this or higher?) 1:40.
- It doesn’t use Hedge or High-Risk trading.
- There’s a full list of settings revealed.
How to start trading with Big Expert
To get started, we have to follow the next simple steps:
- We have to buy a copy of a product for $345 or rent it for $150 monthly.
- We have to receive approval to run it on the real account.
- The robot needs to be set up on the terminal.
There’s a demo version available that allows us to check the system’s features on the terminal.
Backtests
We have many backtests that vary by time frames. This one is for M15. The historical quality was 96%. The deposit was unknown. The total net profit has become $66,260,307. The maximal drawdown was 1.79%. The profit factor was 3.85. Tre Recovery Factor was high as well – 400.12. The system has closed 5988 deals with an 84% win rate for Shorts and 76% for Longs. An average win streak was five deals.
Unverified Trading Results of Big Expert
The developer didn’t publish trading results. So, it’s the worst case. The list of the minimum required intel to make a decision about the robot performance is and includes:
- Trading results.
- Leverage.
- Broker.
- Symbols.
- Directions.
- Drawdowns.
- Win rate.
- Profit Factor.
- Lot Sizing.
- Money-management discipline,
- And so on.
People feedback
The last comments are horrible and showed that the system is dangerous to run it on a real account.
The developer is quick to provide support to everyone who needs it.
Other notes
The profile has a 2741 rate. The company is originally from Germany. There are 161 friends added.
Is Big Expert a viable option?
From pros, we’d like to notice a provided backtest report and some positive comments, but the system has many cons. The developers don’t provide trading results which we can explore and decide if the system is a viable option. The offer is overpriced as for a robot without proven trading activities. The company has four products on the board, but no signals. It means the developers don’t use the system they designed to make real money on Forex. So, the answer to the question is “We don’t think so.” The main reason that the developer deployed neither demo nor real account to show that the robot is good to go. If even the developer is afraid to show how the system works so, we have to avoid this product completely.
Conclusion
Big Expert looks like a scam. Frankly, trying for $349 the system that has never run even a demo account it’s one of the weirdest decisions we can ever make. Of course, we’d avoid it. Many people didn’t, and now, they write angry comments where they explain why this system is a scam. We’re not surprised. Just because everyone knows that backtest performance can’t guarantee future profits.
