Average vs Minimum Spread

A "from 0.0 pips" figure is a minimum: the tightest spread the broker has seen on that instrument, usually in the deepest part of the session. An average spread is a mean over a stated period, and only a time-weighted average across the full trading day describes something close to what a trader actually pays. The two numbers can differ a great deal, and neither says anything about the moments that cost most — the seconds around a scheduled release, the rollover window, and the thin hours after the New York close. Where a broker publishes averages, the period, the account type and whether commission is included all change the figure, so they are worth reading before comparing two firms. The check that settles it is your own record: the spread at the moment of your fills, gathered over a few weeks, against the number in the advertising.