Since the high costs of common large array SQUID system may hinder widespread application of fetal magnetoencephalography (fMEG) and magnetocardiography (fMCG), we intended to investigate a small non-commercial 3-channel SQUID system. The system comprises 3 axial first order gradiometers with 7 cm base length, 2 cm diameter and 2x2 windings of niobium wire, dc-SQUIDs (UJ-111), and current locked mode SQUID electronics that form an equal length triangle (22.5 mm). The system is mounted in a Cryostat BFH-7 model 16 with 5 mm "warm"-"cold" distance. System noise is about 10 fT/Hz1/2. The fMEG and fMCG were recorded between 29 - 40 weeks of gestation after sonographic localization of the fetal head and heart using a 31-channel biomagnetometer (Philips) and the 3-channel-system, both in the same magnetically shielded room. The fMEG was recorded continuously over 500 sec (500 auditory stimuli, 100 dB SPL, 500 Hz, 50 ms, ISI 0.8-1.2/1.6-2.4 sec, trigger channel, maternal ECG lead, sampling rate 1 kHz). The fMCG was recorded over a period of 5 minutes after dewar readjustment. The detection rates of cortical auditory evoked responses (CAER) reached 100 % for both systems. Cross confirmation of the components was difficult and may have uncovered false positive component detection. The fMCG was characterized by a systematic increase in SNR under application of the smaller device. The small size array provides a profitable alternative for the fetal applications.