ΔE 20.7, loose: different enough that you should pick on purpose. Magenta is noticeably darker, more muted, warmer than Spellbound Fuchsia.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 21). Magenta is noticeably darker, more muted, warmer than Spellbound Fuchsia.
The same difference applies the other way round: Spellbound Fuchsia is noticeably lighter, more saturated, cooler.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Spellbound Fuchsia on the colour wheel See Magenta on the colour wheel
All matches: Spellbound Fuchsia equivalents · Magenta equivalents