The present invention is directed to a magnetic pump for pumping ferrofluids. The magnetic pump in its simplest form has at least two coils which are electrically connected to a multi-phase power source to produce a traveling electromagnetic field. In close proximity to the coils and substantially normal to the axis of the coils is a tube which defines the path of fluid flow. It is preferred that the coils be embedded in a stator of ferromagnetic material and that the stator be cylindrical. Preferably the tube is wound about the cylindrical stator either internal to or external to the stator. In a preferred embodiment of the present invention the tube is placed in an annular gap between cylindrical stators of different diameter and having coils energized so as to produce reinforcing traveling magentic fields.