When I first starting brewing we used the racking cane (siphon) to fill bottles. Using a siphon requires pinching the tube above the bottle to stop the flow. The tubing below the pinch would drain into the bottle. We would get tired fingers from the constant pinching to stop the flow. We did slop a lot of beer with this method.
We switched to a bottling wand with a plunger in the bottom at the end of the siphon tube.. The flow would start when the plunger was pressed to the bottom of the bottle. The flow was supposed to stop when the wand was lifted. The weight of the beer in the tubing above the bottle theoretically would stop the flow. Still had a lot of dribble when the plunger would not seat completely.
Now I'm using a bottling wand with a spring in the tip that seats the plunger when it is lifted off the bottom of the bottle. I would recommend using this type of set up with the wand attached to the bottling bucket by a short piece of tubing. This is the type of wand I'm using. There are two different diameters available. The 3/8 inch diameter wand will fill with a smaller amount of head space than the 1/2 inch diameter wand that can also be found..
This is an old picture of my set up for bottling.
Edit: The spigot and a short piece of tubing can be used to fill bottles but will allow more air into the beer. Oxidation in the bottle will occur sooner. Might be okay if you plan to drink the beers rather quickly.