I recently purchased a G&G TR4-18 Short, which is a M416 variant. Along with my TR4-18 I got 12 of KWA's K120 Polymer mags, which are basically the same (quality and aesthetically wise) as the famous Magpul PMags everyone drools about (which are no longer on the market). Quality PMag's are hard to neglect, and KWA has done it with their version of the PMag. However, the M416 magwell is slightly different than a standard M4. You will need to modify the mag for them to fit. This mod will not hinder the performance, look, or compatibility with your other rifles using standard NATO 5.56mm mags.
KWA K120 Polymer mag
The reason why PMags do not fit the M416 magwell is due to the lip on the upper part of the mag, right above the last finger grove.
All you will need is a file, and large tie wraps. Optionally, electrical tape to increase the mags girth and tie wrap traction. I added a few layers of electrical tape to the mag, and sat the tie wrap leaning on the lower lip of the last finger grove. As such
From this point on, you file down the polymer until the lip is close to being completely gone. The tie wrap serves as a guide for a new and perfectly straight lip. It took me around 5 minutes per mag. I left some of the lip, this way the mag sits tightly into the magwell. These KWA PMags allow for barely any wobble if any at all, the best I've seen so far (with the exception of Magpul's own PMags).
The finished product shows no signs of modifications, sits tight in the magwell and with no feeding problems.
I recommend you use a aggressive file to shave down most of the lip, the polymer on these mags in particular is rather hardcore, you can finish off with a softer file.
I went around searching for guides on PMag modes, but none of them ended with good aesthetics. I don't recommend using a dremel, but you may if you don't care as much about the aesthetics and want to save some time.