We present an experimental realization of a moving magnetic trap decelerator, where paramagnetic particles entrained in a cold supersonic beam are decelerated in a co-moving magnetic trap. Our method allows for an efficient slowing of both paramagnetic atoms and molecules to near stopping velocities. We show that under realistic conditions we will be able to trap and decelerate a large fraction of the initial supersonic beam. We present our first results on deceleration in a moving magnetic trap by bringing metastable neon atoms to near rest. Our estimated phase space volume occupied by decelerated particles at final velocity of 50 m/s shows an improvement of two orders of magnitude as compared to currently available deceleration techniques.