In this paper we are interested in the reactivity of magnetic nanoparticles at the electrode involved in the electrochemical synthesis of magnetic and conductive liquids. The reactivity of charged colloidal particles occurs in two steps, first the approach toward the electrode with a possible adsorption phenomenon and secondly the electron transfer. In this paper we focus on the electrochemical behaviour of well-defined gamma-Fe(2)O(3) nanoparticles at a gold and at a mercury electrode. Particles can be electrochemically reduced at the two electrodes and can be dispersed into mercury at a highly negative potential. Here, we probe in particular the properties of nanoreactor of the particles, that is to say, the possible conservation of their size after they have undergone the electrochemical process. By correlating complementary techniques (here atomic force microscopy (AFM) observations, Raman spectroscopy and cyclic voltammetry on gold electrode) and by studying the magnetic properties of the material obtained after reduction of the particles on a mercury electrode, we are able to probe both the chemical nature and the physical state of the particles once transformed. Experimental results show that under specific conditions, the particles are individually converted into iron, which justifies their use for preparing a liquid with both magnetic properties and properties of electron conduction.