Have been involved with preorders with Magfast since 2022. Despite multiple promised ship dates, not a single flagship product has been delivered. The only product they seem to be able to produce is a charging cable, which while nice, is extremely overpriced. In June of 2025, they admitted they failed and couldn't deliver their orders from 2022 (this has happened before with the founder a few years prior with ThingCharger). Under a very highly produced live broadcast, they said they would reinvent themselves and they offered all previous preorder customers "significant" credits for future purchases, with the caveat that it can only be used for up to 50% of the new purchase. Part of this new model is that they would no longer sell products that were preorders. They would only sell products that were in stock or already shipped from their manufacturers. This statement is directly from Seymour Segnit, and verifiable in their broadcasts. They promised that if you purchased their new generation of products, it would be delivered late Q3 to early Q4 2025. That was delayed to arrive in time for the 2025 holidays, then it turned into February 2026, now they have issues with their warehouse and shipping and need a few more weeks to ship. This is all on top of continually trying to sell more preorder products that they claim will start shipping in the next couple of months, but they never seem to materialize. They also have repeatedly asked for investments in the company, which I believe are offered under false pretenses. If you advertise that you are no longer offering preorders, but make the entire business model on preorders, the offering is in bad faith, and could be considered fraudulent.
If you ask enough times, over 7 requests, they will eventually offer a refund, but they seem to wipe their hands of any made investments, even though they solicited those investments under the pretense of a different business plan.
Regarding the shipping of products, even though they claim to have been shipping their current products for 2 months, not one has appeared on a secondary market, which makes me believe that very few have actually been delivered to customers. When you ask for the status, you get a form letter reply asking for more time, but no specific details of where you are in a queue, or a firm date for a resolution, though based on history, any promises have to be taken with a grain of salt.
At this point after 2 failed ventures under Mr. Segnit, I am not sure if the company continually takes on more they can handle, or if all of the updates are smoke an mirrors. I would like to think it is the prior, but Magfast has taken in millions from customers and have delivered little to no merchandise.
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Makers of the gorgeous new family of wireless, magnetic chargers... that's changing charging for good.
