Right.I don't think it has to be "iron".
Last time I said, in SBO forum, someone sat a Coors Light Tall near my Richie steering compass and it affected the reading...
I got clobbered.
Any large dense MASS [close by] can cause a magnetic disturbance, big Iron is just available on a boat.
Newton spelled that out years ago.
Guess what?
You have to "calibrate" you Flux Compass for YOUR boat!! That compensates for any nearby MASS and offsets from the centerline. Just remember that "MASS" changes nearby will "un-calibrate" it.
As to being the Master of your boat...
When I bought my boat, I had never heard of a "Flux Compass", much less knew what it looked like and where is was located. That didn't mean I was stupid. It is called "training" [with a little help from SBO friends]
Here is the link to the Flux Compass search I did...
http://forums.sailboatowners.com/index.php?threads/flux-compass-location.177633/#post-1276905
Good Luck finding yours...
Jim...