In the present paper, we have investigated the motion of charged particles together with magnetic dipoles to determine how well the spacetime deviation parameter $$\epsilon $$
ϵ
and external uniform magnetic field can mimic the spin of a rotating Kerr black hole. Investigation of charged particle motion has shown that the deviation parameter $$\epsilon $$
ϵ
in the absence of an external magnetic fields can mimic the rotation parameter of the Kerr spacetime up to $$a/M \approx 0.5$$
a
/
M
≈
0.5
. The combination of an external magnetic field and deviation parameter can do even a better job mimicking the rotation parameter up to $$a/M\simeq 0.93$$
a
/
M
≃
0.93
, which corresponds to the rapidly rotating case. Study of the dynamics of the magnetic dipoles around quasi-Schwarzschild black holes in the external magnetic field has shown that there are degeneracy values of the ISCO radius of test particles at $$\epsilon _{cr}>\epsilon \ge 0.35$$
ϵ
cr
>
ϵ
≥
0.35
which may lead to two different values of the innermost stable circular orbit (ISCO) radius. When the deviation parameter is in the range of $$\epsilon \in (-1,\ 1)$$
ϵ
∈
(
-
1
,
1
)
, it can mimic the spin of a rotating Kerr black hole in the range $$a/M \in (0.0537, \ 0.3952)$$
a
/
M
∈
(
0.0537
,
0.3952
)
for magnetic dipoles with values of the magnetic coupling parameter $$\beta \in [-0.25,\ 0.25]$$
β
∈
[
-
0.25
,
0.25
]
in corotating orbits.