The presented work investigates the differences in magnetic properties of free and supported clusters via ab-initio calculations. The electronic structure of the clusters was calculated using a spin polarized relativistic multiple-scattering Greenâ€™s function formalism. We focus on Fe clusters of 2â€“9 atoms, either free or supported by Ni(001), and on Co clusters of 2â€“7 atoms, either free or supported by Au(111). For the supported clusters, the spin and orbital magnetic moments depend on the cluster size nearly monotonically, while for the free clusters large quasi-oscillations of magnetic moments with the cluster size were observed. Similarly, for supported clusters, the local spin magnetic moments decrease nearly linearly with increasing coordination number, while for free clusters of the same size range the trend is much more complicated. These findings are consistent with the fact that the spectral distribution function contains much sharper features for free clusters than for supported clusters.