Thermally-sprayed Fe-based coatings have shown their potential for use in wear applications due to their good tribological properties. In addition, these kinds of coatings have other advantages, e.g., cost efficiency and positive environmental aspects. In this study, the microstructural details and tribological performances of Fe-based coatings (Fe-Cr-Ni-B-C and Fe-Cr-Ni-B-Mo-C) manufactured by High Velocity Oxygen Fuel (HVOF) thermal spray process are evaluated. Traditional Ni-based (Ni-Cr-Fe-Si-B-C) and hard-metal (WC-CoCr) coatings were chosen as references. Microstructural investigation (field-emission scanning electron microscope FESEM and X-Ray diffractometry XRD) reveals a high density and low oxide content for HVOF Fe-based coatings. Particle melting and rapid solidification resulted in a metastable austenitic phase with precipitates of mixed carbides and borides of chromium and iron which lead to remarkably high nanohardness. Tribological performances were evaluated by means of the ball on-disk dry sliding wear test, the rubber-wheel dry particle abrasion test, and the cavitation erosion wear test. A higher wear resistance validates Fe-based coatings as a future alternative to the more expensive and less environmentally friendly Ni-based alloys.