Abstract: This application deals with glass forming iron based alloys which when produced as a metallic glass or mixed structure comprising metallic glass and nanocrystalline phases, results in extraordinary combinations of strength and ductility. Specifically, high strain up to 97% and high strength up to 5.9 GPa has been measured. Additionally, consistent with the amorphous structure high elasticity up to 2.6% has been observed. Thus, the new alloys developed result in structures and properties which yield high elasticity corresponding to a metallic glass, high plasticity corresponding to a ductile crystalline metal, and high strength as may be observed in nanoscale materials.