This paper is related to the evaluation of the possibility of using ferroalloys for the production of conventional (CMGs) and bulk metallic glasses (BMGs) as well as determining their magnetic properties. The structure and magnetic properties of Fe-Co-based CMGs and BMGs prepared from ferroalloys and pure elements, were studied. The CMGs and BMGs were in the form of ribbons and rods, respectively. The thickness of the ribbons were 0.07, 0.12, and 0.27 mm and the diameters of the rods were 1.5 and 2.5 mm. The investigations of the structure of the test specimens were carried out using the X-ray diffraction (XRD) method and electron microscopy methods (HRTEM—high-resolution transmission electron microscope, SEM—scanning electron microscope). The relationship between the structure and magnetic properties of the Fe36.00Co36.00B19.00Si5Nb4 and Fe35.75Co35.75B18.90Si5Nb4Cu0.6 CMGs and BMGs was determined. The possibility of using new materials, i.e., CMGs and BMGs, prepared on the basis of ferroalloys, lies in the scope of the presently conducted research and allows us to obtain the utility properties, while avoiding high costs associated with the purchase of raw materials.