A magnetic tool stand for supporting and securing a tool relative to a ferromagnetic body, comprising: (a) first and second magnet units (12; 312), each magnet unit (12; 312) having at least one pair of oppositely polarisable pole shoes (48a, 48b) at a working face of the magnet unit (12; 312), the pole shoes (48a, 48b) disposed to provide a closed magnetic circuit at each magnet unit (12; 312) with and when contacting a ferromagnetic body and to magnetically attach the tool stand to the ferromagnetic body; (b) a support structure (14; 114; 214; 314; 414) having (i) an upper side on which is provided a mounting structure (30; 130; 330) for releasable or permanent securing of a tool to the support structure (14; 114; 214; 314; 414), and (ii) a lower side opposite the upper side and which, in use of the tool stand, faces a ferromagnetic body on which the tool stand is to be secured; and (c) first and second mounts (64; 264; 364) releasably securing the first and second magnet units (12; 312), respectively, to the support structure (14; 114; 214; 314; 414), wherein the first the second mounts (64; 264; 364) are located in spaced apart relationship to each other, the first and second mounts (64; 264; 364) devised to provide at least one degree of freedom of rotational movement for the respective magnet units (12; 312) at the support structure (14; 114; 314; 414) and enable the working faces to be rotated into a range of operational positions including a first position in which the working faces of the magnet units (12; 312) are coplanar or parallel for resting the pole shoe pairs (48a, 48b) on at least one planar surface of the ferromagnetic body, and a second position in which the working faces of the first and second magnet units (12; 312) are angled relative to each other for resting the pole shoe pairs (48a, 48b) of both magnet units (12; 312) on a curved surface of the ferromagnetic body, characterised in that the first and second magnet units are manually on-off switchable permanent magnet units and in that each magnet unit (12; 312) comprises an external housing with an external handle mounted to an upper side of the external housing for effecting manual switching of the magnet units (12; 312) into the on-off magnetic states, and in that the support structure (14; 114; 214; 314; 414) comprises the first and second mounts (64; 264; 364) located in spaced apart relationship to each other at opposite sides of the support structure (14; 114; 214; 314; 414) in such an arrangement that the respective handles to turn the magnet units (12; 312) on and off are accessible from the upper side of the support structure (14; 114; 314; 414). (a) first and second magnet units (12; 312), each magnet unit (12; 312) having at least one pair of oppositely polarisable pole shoes (48a, 48b) at a working face of the magnet unit (12; 312), the pole shoes (48a, 48b) disposed to provide a closed magnetic circuit at each magnet unit (12; 312) with and when contacting a ferromagnetic body and to magnetically attach the tool stand to the ferromagnetic body; (b) a support structure (14; 114; 214; 314; 414) having (i) an upper side on which is provided a mounting structure (30; 130; 330) for releasable or permanent securing of a tool to the support structure (14; 114; 214; 314; 414), and (ii) a lower side opposite the upper side and which, in use of the tool stand, faces a ferromagnetic body on which the tool stand is to be secured; and (i) an upper side on which is provided a mounting structure (30; 130; 330) for releasable or permanent securing of a tool to the support structure (14; 114; 214; 314; 414), and (ii) a lower side opposite the upper side and which, in use of the tool stand, faces a ferromagnetic body on which the tool stand is to be secured; and (c) first and second mounts (64; 264; 364) releasably securing the first and second magnet units (12; 312), respectively, to the support structure (14; 114; 214; 314; 414), wherein the first the second mounts (64; 264; 364) are located in spaced apart relationship to each other, the first and second mounts (64; 264; 364) devised to provide at least one degree of freedom of rotational movement for the respective magnet units (12; 312) at the support structure (14; 114; 314; 414) and enable the working faces to be rotated into a range of operational positions including a first position in which the working faces of the magnet units (12; 312) are coplanar or parallel for resting the pole shoe pairs (48a, 48b) on at least one planar surface of the ferromagnetic body, and a second position in which the working faces of the first and second magnet units (12; 312) are angled relative to each other for resting the pole shoe pairs (48a, 48b) of both magnet units (12; 312) on a curved surface of the ferromagnetic body,