No.
Oxidation is the loss of electrons.
Reduction is the gain of electrons.
Mg(s) with a zero oxidation number changes to Mg^2+ ion with a +2 oxidation number. From zero charge to +2 charge means it had to lose electrons so Mg is oxidized.
Fe^2+ on the left changes to Fe(s) on the right. That must be a gain of electrons so it is reduced.
Mg(s) + FeCl2(aq) → MgCl2(aq) + Fe(s). IS THE IRON(II) ION OXIDIZED?
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