Fusion is about overcoming the coloumb repulsion.
A magnetic force deviates the repulsive force. It does not produce a force to counter or overcome the repulsive action.
So, either being a tokamak or a magnetic dipole will only produce an indirect confinement not a true potential well with a central action.
The principal movements of the ions will organise in a collective flow, that only occasionally will produce action perpendicular to this principal direction.
And once these perpendicular velocities become relatively high, and even high enough to produce fusion, it’s not all clear that they will be confined to anything.
That’s why the ITER is like nailing jelly to the ceiling.
Only if the magnetic field becomes huge, can magnetic confinement work. Like in the plasmoid.