Ribbon and bulk nanocrystalline body-centered-cubic (bcc) (Fe,Co) alloys exhibiting good soft magnetic properties were synthesized in Fe71.5-xCoxB13.5Si10Nb4Cu1 system by the simple production processes of melt-spinning or casting and annealing. The glass-type alloys were formed in the Co content range below 30 at.%. These glassy alloys crystallized through two exothermic reactions. The first stage was due to the precipitation of nanoscale bcc-(Fe,Co) phase with a grain size of about 10 nm, and the second stage resulted from the decomposition of the remaining amorphous phase to α–(Fe,Co), (Fe,Co)2B, (Fe,Co)23B6, (Fe,Co)3Si, and (Fe,Co)2Nb phases. The glass transition temperature increased from 820 to 827 K with increasing Co content from 5 to 20 at.%, while the supercooled liquid region decreased slightly from 37 to 30 K because of the nearly constant crystallization temperature. By choosing the 10 at.% Co-containing alloy, we produced cylindrical glassy alloy rods 1.0 and 1.5 mm in diameter by copper mold casting. The subsequent annealing for 300 s at 883 K corresponding to the temperature just above the first exothermic peak caused the formation of nanoscale bcc-(Fe,Co) structure. The bcc-(Fe,Co) alloy rods exhibited good soft magnetic properties of 1.26 T for saturation magnetization and 5.0 A/m for coercive force, which were comparable to those for the corresponding bcc-(Fe,Co) alloy ribbon. The nanocrystalline alloy in a bulk form is encouraging for future use as a new type of soft magnetic material that requires three-dimensional shapes.