The paper presents the behavior of the motion properties of the variable mass test particle (third body), moving under the influence of the two equal primaries having electromagnetic dipoles. These primaries move on the same circular path around their common center of mass in the same plane. We have determined the equations of motion of the test particle whose mass varies according to Jean's law. Using the system of equations of motion we have evaluated the locations of equilibrium points, their movements and basins of the attracting domain. Finally, we examine the stability of these equilibrium points, all of which are unstable.