Nanoscale magnetism is of paramount scientific interest and high technological relevance. To control magnetization on a nanoscale, both external magnetic fields and spin polarized currents, which generate a spin torque onto the local spin configuration, are being used. Novel ideas of manipulating the spins by electric fields or photons are emerging and benefit from advances in nanopreparation techniques of complex magnetic materials, such as multiferroics, ferromagnetic semiconductors, nanostructures, etc. This review provides an overview and future opportunities of analytical tools using polarized X-rays by selected examples of current research with advanced magnetic materials.