Advantages
- The scale is
     uniformly divided     
 - The power
     consumption can be made very low (25μW to 200μW). 
 - The
     torque-weight ratio can be made high with a view to achieve high accuracy.
     
 - A single
     instrument can be used for multi range ammeters and voltmeters. 
 - Error due to
     stray magnetic field is very small. 
 - Very accurate
     and reliable.
 - No hysteresis loss as the magnetic flux is practically constant.
 
Disadvantages
- They are suitable for direct current only. 
 - The instrument cost is high. 
 - Variation of magnet strength with time.
 - About 50% more expensive than moving iron instruments.
 
Sources of Errors
- Frictional error. 
 - Magnetic decay. 
 - Thermoelectric error.
 - Temperature error.
 
 Reduction of errors
- Proper pivoting
     and balancing weight may reduce the frictional error. 
 - Suitable
     aging can reduce the magnetic decay. 
 - Use of
     Manganin resistance in series (swamping resistance) can nullify the effect
     of variation of resistance of the instrument circuit due to temperature
     variation. 
 - The stiffness of spring, permeability of magnetic core (Magnetic core is the core of electromagnet or inductor which is typically made by winding a coil of wire around a ferromagnetic material) decreases with increases in temperature.