It can be done but you have to use Music Editor 3, which comes with MP3 Maker. You'll find it under Windows, Programs, Magix, Magix MP3 Maker. Load it, import an audio file, modify the equalizer and any other parameters, and export to mp3 or wav with a different filename so as not to lose the original. You can save your effects parameters and reuse them with other audio files, and you can make adjustments if need be.