The bulk amorphous Fe-based alloy with the nominal composition Fe65.5Cr4Mo4Ga4P12C5B5.5 was obtained by copper mold casting in different shapes: cylindrical rods with diameters up to 2.5 mm and discs with 10 mm diameter and 1 mm thickness. This alloy exhibits good soft magnetic properties. Using electrochemical investigations we found that the corrosion resistance of this alloy is better than that of usual FeSi steel used for magnetic applications. Beside magnetic properties and corrosion resistance, this alloy exhibits also good mechanical properties. These were investigated by compression tests, nanoindentation and by an ultrasonic technique. The Young's modulus E was found to be around 160 GPa, the yield strength σ
is around 2.3 GPa and the fracture strength σ
is around 3.23 GPa, together with an elastic strain ε
= 1.5% and a fracture strain ε
= 2.3%. The hardness was found to be around 10 GPa.