Fe based (Fe$_{68.2}$C$_{5.9}$Si$_{3.5}$B$_{6.7}$P$_{9.6}$Cr$_{2.1}$Mo$_{2.0}$Al$_{2.0}$) amorphous powder, which is a composition of iron blast cast slag, were produced by a gas atomization process, and sequently mixed with ductile Cu powder by a mechanical ball milling process. The experiment results show that the as-prepared Fe amorphous powders less than 90 $mu$m in size has a fully amorphous phase and its weight fraction was about 73.7%. The as-atomized amorphous Fe powders had a complete spherical shape with very clean surface. Differential scanning calorimetric results of the as-atomized Fe powders less than 90 $mu$m showed that the glass transition, T$_g$, onset crystallization, T$_x$, and super-cooled liquid range $Delta$T=T$_x$-T$_g$ were 512, 548 and 36$^{circ}C$, respectively. Fe amorphous powders were mixed and deformed well with 10 wt.% Cu by using AGO-2 high energy ball mill under 500 rpm.