The Fe48Cr15Mo14Er2C15B6amorphous steel can hardly be used as an engineering material because of its ex- treme brittleness and very low iron content. By changing the composition of the nonmagnetic amorphous steel, and using the relation between the reduced glass transition tempera- ture Trg and the glass forming ability, a new amorphous Fe56Mn5Cr7Mo12Er2C12B6 alloy with good glass forming abil- ity and high iron content was obtained. The diameter of the as-cast sample rod reached 8 mm. This new amorphous steel has lower manufacturing cost due to its high iron content, and thus it can have wider applications.