We demonstrate that the temperature dependence of structural as well as magnetic fluctuations can be probed by the use of the Magnetic Extended X-ray Absorption Fine Structure (MEXAFS) spectroscopy. We compare those to the dynamic disorder as probed by the EXAFS. Here we present temperature-dependent MEXAFS investigations carried out at the L-edges of a thin Fe film and a Gd single crystal. By comparing the experimental results to ab initio calculations the single-scattering contributions are separated from multiple-scattering contributions. It is found that the multiple-scattering contributions are enhanced for the MEXAFS compared to the normal EXAFS