In this article we prove the global existence of weak solutions for a diffuse interface model in a bounded domain (both in 2D and 3D) involving incompressible magnetic fluids with unmatched densities. The model couples the incompressible Navier–Stokes equations, gradient flow of the magnetization vector and the Cahn–Hilliard dynamics describing the partial mixing of two fluids. The density of the mixture depends on an order parameter and the modelling (specifically the density dependence) is inspired from Abels et al. (Models Methods Appl Sci 22(3):1150013, 2011).