Abstract In the present paper we report on the magnetic properties of the (Fe0.7Co0.3)83.7Si4B8P3.6Cu0.7 ribbons produced by melt spinning and microwires prepared using Taylor-Ulitovsky technique. Depending on the cooling rate the ribbon samples have either an amorphous or partly crystalline structure. Excellent magnetic softness with coercivity of about 5 A/m and high saturation magnetization of about 1.87 T was found in the partly crystalline state ribbon. Glass–coated (Fe0.7Co0.3)83.7Si4B8P3.6Cu0.7 microwires with a mixed amorphous/nanocrystalline structure exhibit perfectly rectangular hysteresis loops and unusually high domain wall mobility that must be associated to elevated saturation magnetization values.