We study ferrofluidic Taylor Couette flow under the influence of radial inflow and outflow in combination with an external applied magnetic field in a finite-length cavity via direct numerical simulations. As is the case for no magnetic field, the base state (cylindrical Couette flow and modified circular-Couette flow in presence of a transverse magnetic field component, respectively) with an external magnetic field is stabilized for any radial inflow and strong radial outflow, while the system becomes slightly destabilized for weak radial outflow. The particular parameter range for destabilization depends on the field strength of the applied magnetic field. Slightly increasing the field strength shrinks the range, while it grows for larger field strengths. In general, a larger field strength tends to minimize and compensate the effect of any radial flow, resulting in bifurcation thresholds (critical Reynolds number vs. radial flow) which have less curvature, i.e. they are more flat. We elucidate the origin of this effect to be in the symmetry breaking nature of the transverse magnetic field itself. Azimuthal velocity isocontours are shifted different strong due to radial flow, either in the part of the annulus that is aligned with the direction of the applied magnetic field or perpendicular to it. In particular, the modulation amplitude in the isocontours perpendicular to the field increase. As a result the flow is locally stabilized with different strength, so that the overall stabilization is weaker relative to the situation without any applied field. This diminishing curvature effect with variation of the radial flow becomes more pronounced with stronger applied magnetic fields.