We study the multiplicity and concentration of complex-valued solutions for a fractional magnetic Schrödinger equation involving a scalar continuous electric potential satisfying a local condition and a continuous nonlinearity with subcritical growth. The main results are obtained by applying a penalization technique, generalized Nehari manifold method and Ljusternik–Schnirelman theory. We also prove a Kato's inequality for the fractional magnetic Laplacian which we believe to be useful in the study of other fractional magnetic problems.