Conventional vibration energy harvesters are generally based on linear massspring oscillator models. Major limitations with common designs are their narrow bandwidths and the increase of resonant frequency as the device is scaled down. To overcome these problems, a two-degree-of-freedom nonlinear velocity-amplified energy harvester has been developed. The device comprises two masses, oscillating one inside the other, between four sets of nonlinear magnetic springs. Impacts between the masses allow momentum transfer from the heavier mass to the lighter, providing velocity amplification. This paper studies the nonlinear effects introduced by the presence of magnetic springs, using high order spectral analysis techniques on experimental and simulated data obtained for a range of excitation levels and magnetic spring configurations, which enabled the effective spring constant to be varied. Standard power spectrum analysis only provide limited information on the response of nonlinear systems. Instead, bispectral analysis is used here to provide deeper insight of the complex dynamics of the nonlinear velocity-amplified energy harvester. The analysis allows identification of period-doubling and couplings between modes that could be used to choose geometrical parameters to enhance the bandwidth of the device.