In this paper we report on a new improved free-hand haptic interface based on magnetorheological fluids (MRFs). MRFs are smart materials which change their rheology according to an external magnetic field. The new architecture here proposed results from the development and improvement of earlier prototypes. The innovative idea behind this device is to allow subjects interacting directly with an object, whose rheology is rapidly and easily changeable, freely moving their hands without rigid mechanical linkages. Numerical advanced simulation tests using algorithms based on finite element methods have been implemented, in order to analyze and predict the spatial distribution of the magnetic field. A special focus was laid on investigating on how the magnetic filed profile is altered by the introduction of the hand. Possible solutions were proposed to overcome this perturbation. Finally some preliminary psychophysical tests in order to assess the performance of the device are reported and discussed