Magneto would have been the Boy Magnet! Fighting alongside Captain America and his Invaders

Oh uh ok

Probably wouldn't have changed much. Magneto still suffered for sometime, and Mutants were still feared and hated. So his anger at humanity wouldve still come from such.

But at least he can be neutral

Agreed. After the war, Cap would take Erik to the US Army so that they could monitor his powers so that they wouldn't get out of hand. Magneto discovers that they have plans to keep him there for the rest of his life so that he doesn't use them against them. Cap finds out he's uncomfortable there, and brings him to a place where he will be happy and make friends with kids like him...

This is a universe where Cap survived.

The holocaust was what showed magneto what humans were capable of, but it was far from the last time humans showed him that.

With or without the holocaust, Max would have lived through so much horrible stuff.

For the average mutant, every day they live a risk of genocide at the hands of humans.

So, he probably still would have ended up the same way eventually. Though, it would make an interesting story idea.

I actually wrote my own fanfic story "what if Captain America was actually a mutant"

And in that story, Captain America does liberate Magneto from the camps, but not before he had witnessed the deaths of his family and friends.

Realistically the holocaust started 1933. The United States only joined the united front in 1942. If I remember correctly, the first Concentration camp to be liberated was in 1944.

By the time the Captain America would have possibly started liberating camps, Max and his family could have been in a concentration camp for years potentially.

So.... even if Captain America were to have liberated Max, what he would have endured in that time would have been so traumatizing, it would hardly have made a difference.

Good point but it was a creative concept

That's if we're using our timeline of events. In that reality maybe things get stepped up a bit quicker due to all the super powered shenanigans going on and cap finds out from nick fury about the ghettos and camps sooner and mounts a rescue or something like that, whatever you want. There'd still be trauma there but maybe with caps guidance he wouldn't fall so hard and he'd have a reliable dude to mentor him. That's just my thoughts.