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Based on my experience and careful review of Hicend’s available information, I found that this broker does not specifically mention offering fixed or variable spreads. Instead, Hicend’s main focus is on futures trading across metals, energy, and chemical markets rather than typical forex instruments where spreads are usually a central consideration. In the futures markets that Hicend provides, trading costs are generally incurred via application and handling fees, rather than by way of spreads in the traditional sense. For me, as someone who has navigated multiple trading environments, it’s important to highlight that futures—especially those regulated and traded through reputable Chinese exchanges—operate with transparent tick sizes and exchange-determined commissions, which can sometimes fluctuate with market activity. When volatility spikes or during major news events, I’ve observed that bid-ask spreads in futures markets can widen due to rapid fluctuations in supply and demand. While Hicend does not explicitly address this on their platforms, it’s my cautious assumption that clients should be prepared for less favorable execution and potentially higher costs in such circumstances, even though these are manifested as exchange fees rather than broker-defined spreads. Given the lack of demo accounts and the requirement for fees, I’d advise anyone to approach trading—especially during volatile conditions—with careful risk management and clear understanding of the instruments involved.