Glass forming ability (GFA) and soft-magnetic behaviour of melt-spun Fe69C5.5P11.5Mn0.4Si2.3Cr1.8Mo1B8.5 (alloy 2) and Fe68C9P12Mn1Si3Nb2B5, (alloy 3) alloys prepared using high phosphorous pig iron (h-PI, Fe80C14P2.2Mn0.4Si3.4) has been studied. The glass formation, thermo-physical and soft-magnetic properties of the alloys were analyzed for different quenching rates by varying wheel speed as 23, 26, 33, 39 and 43 m/s. The simultaneous incorporation of alloying elements (Cr, Mo, Nb) and metalloids (C, B, P, Si) transforms h-PI to complete glassy alloy, even at low quenching rates. The melt quenching rate influences the thermal parameters and Curie temperature of glassy ribbons in an opposite way. Amongst all, FeCPMnSiCrMoB glassy alloy show superior combination of higher glass transition temperature of 788 K, super cooled region of 34 K, glass Curie temperature of 552 K, coercivity less than 13 A/m and maximum saturation magnetization of 1.1 T. In addition, the annealing treatment at 758 K improves magnetic softness (1.7 A/m) of the alloy by relaxation of quenched-in stresses. The comparison of developed glassy alloy with similar Fe-glassy alloys and SENNTIX type alloys show best combination of thermo-physical and magnetic properties. The glassy alloy prepared using blast furnace high phosphorous pig iron can be used for uniformly gapped soft-magnetic cores. © 2019 Elsevier B.V.