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As someone who has spent years navigating the forex market, regulatory oversight and operational longevity are two of the first things I consider when examining a broker like MUFG. From my experience, MUFG stands out because it's part of one of the world's most established financial groups, regulated by top-tier authorities such as the UK's FCA and Malaysia's LFSA. However, when it comes to the matter of spreads—whether they are fixed or variable—my research using the available context makes it clear that specific details about MUFG’s spread structure are currently not transparent. For me, the lack of explicit information about spread type is a notable concern. While major banks and market makers tend to offer variable spreads that can widen during high-impact events, I did not find confirmation within MUFG’s provided materials about their exact spread policy. In my trading practice, I've learned that variable spreads are common among large, regulated institutions, especially during periods of elevated volatility such as major news releases. Spreads typically widen to reflect higher market risk and reduced liquidity at these times, and any broker offering persistently tight, fixed spreads during such events would raise questions about execution quality and potential hidden costs. Given MUFG’s profile as a market maker and its significant global presence, I would cautiously expect their spreads to be variable with occasional widening during market stress. Nonetheless, the absence of full disclosure on this point means I would personally seek direct clarification before opening or funding any significant trading account. As always, clarity around all trading conditions—including spreads and execution policy—remains a non-negotiable priority for me, especially where large financial decisions are concerned.