Abstract The synthesis of metallic glasses requires high cooling rates leading to product size limitations of a few millimeters when using conventional casting techniques. One way to overcome these size limitations is powder metallurgy. Melt atomization and the subsequent powder processing can result in larger, amorphous components as long as no crystallization takes place during powder consolidation. An iron-based glass-forming alloy {(Fe0.6Co0.4)0.75B0.2Si0.05}96Nb4 was formed through both ambient room and high temperature inert gas atomization at various melt flow rates (close-coupled atomization). The use of hot gas generally decreases the droplet size and hence leads to an increased cooling rate and amorphous fraction of the atomized powders. Hot gas atomization results in a lower gas consumption, a smaller gas-to-melt mass flow ratio (GMR), smaller particles and a smaller geometric standard deviation. Particles atomized in ambient temperature were fully amorphous up to a particle size fraction of 90 µm. Larger particle size fractions resulted in a higher crystalline fraction. According to the XRD and DSC analyses, hot gas atomization has only a very small influence on the cooling rate and the amorphous fraction. However, the amorphous yield is significantly increased using hot gas atomization.