Gauge/gravity duality is a useful and efficient tool for addressing and studying questions related to strongly interacting systems described by a gauge theory. In this manuscript we will review a number of interesting phenomena that occur in such systems when a background magnetic field is turned on. Specifically, we will discuss holographic models for systems that include matter fields in the fundamental representation of the gauge group, which are incorporated by adding probe branes into the gravitational background dual to the gauge theory. We include three models in this review: the D3-D7 and D4-D8 models, that describe four-dimensional systems, and the D3-D7' model, that describes three-dimensional fermions interacting with a four-dimensional gauge field. *