ΔE 8.5, close: similar, with a visible difference side by side. Flat Red is a little lighter, more muted than Magenta.
Usually, if you are not matching paint already on the model. Close match (ΔE 8). Flat Red is a little lighter, more muted than Magenta.
The same difference applies the other way round: Magenta is a little darker, more saturated.
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 Magenta on the colour wheel See Flat Red on the colour wheel
All matches: Magenta equivalents · Flat Red equivalents