In equilibrium the Fe–Pd system on the iron rich side of the phase diagram demixes into Fe and L10-ordered FePd. Here, we examine the suitability of the demixing process for self-organized formation of exchange coupled thin film magnets. In this way the benefit of the high magnetization of Fe is combined with the high magnetocrystalline anisotropy of FePd. By using combinatorial methods the influence of composition and thickness on structure, microstructure, and magnetic properties is analyzed. Experiments show the different thermodynamic and kinetic conditions required for demixing and ordering. In particular, for nanostructures the interface energy during demixing must be considered.