In FeCo fine particles, induced anisotropy has a considerable contribution in increasing the coercivity. We have prepared Fe0.7Co0.3 fine particles by the borohydride method in the presence of various magnetic fields in the range 0 ≤ H0 ≤ 2 kOe. We have studied and analysed the factors affecting the induced anisotropy and magnetic structure of these particles by the use of SEM, XRD and vibrating sample magnetometer. It was found that heat treatment, and also the presence of a magnetic field of about 1 kOe during the grain growth, result in the maximum coercivity of Fe0.7Co0.3 fine particles. The value of magnetic field intensity should be such that it causes formation of oriented atomic pairs in crystal sites.