Non-heat treated steels are attractive in the steel-wire industry since the spheroidization and quenching-tempering treatment are not involved during the processing. However, non-heat treated steels should satisfy high strength and good formability without performing heat treatment. Therefore, it is important to investigate optimum materials showing a good combination of strength and formability after the drawing process. In this study, three different steels such as dual phase steel, low-Si steel, and ultra low carbon bainitic steel were used to study their mechanical properties and the cold formability. The cold formability of three steels was investigated by estimating the deformation resistance and the forming limit. The deformation resistance was estimated by calculating the deformation energy, and the forming limit was evaluated by measuring the critical strain revealing crack initiation at the notch tip of the specimens. The results showed that deformation resistance was the lowest in the low-Si steel, and the forming limit strains of ultra low carbon bainitic steel and low-Si steel were higher than that of commercial SWRCH45F steel.