Keyboards and smartphones allow users to express their thoughts freely via manual control. Hands-free communication can be realized with brain-computer interfaces (BCIs) based on code-modulated visual evoked potentials (c-VEPs). Various variations of such spellers have been developed: Low-target systems, multi-target systems and systems with dictionary support. In general, it is not clear which kinds of systems are optimal in terms of reliability, speed, cognitive load, and visual load. The presented study investigates the feasibility of different speller variations. 58 users tested a 4-target speller and a 32-target speller with and without dictionary functionality. For classification, multiple individualized spatial filters were generated via canonical correlation analysis (CCA). We used an asynchronous implementation allowing non-control state, thus aiming for high accuracy rather than speed. All users were able to control the tested spellers. Interestingly, no significant differences in accuracy were found: 94.4%, 95.5% and 94.0% for 4-target spelling, 32-target spelling, and dictionary-assisted 32-target spelling. The mean ITRs were highest for the 32-target interface: 45.2, 96.9 and 88.9 bit/min. The output speed in characters per minute, was highest in dictionary-assisted spelling: 8.2, 19.5 and 31.6 characters/min. According to questionnaire results, 86% of the participants preferred the 32-target speller over the 4-target speller.