Systematic studies of the magnetic and the transport properties are lacking in Metglas 2826 MB (Fe40Ni38Mo4B18). Low‐field magnetic susceptibility between 300 and 1000 K givesTc=(591±2) K in the amorphous state. A thermal cycling up to 1000 K yields two crystalline magnetic phases withTc=(760±10) K and (545±5) K. Differential thermal analysis shows that the crystallization temperature is about 810 K. The ferromagnetic anisotropy of resistivity (FAR) is very small and positive with a typical value of 0.1%. The average slope of magnetoresistivity changes from −(1.1×10−8) G−1to −(0.55×10−8) G−1from 300 K to 77 K. The transverse and the longitudinal magnetoresistances could be related to the tangent of the Hall angle for a number of Metglas alloys including 2826 MB by considering the normal anisotropic magnetoresistance as well as the reduction in resistance due to the removal of domain walls in a uniaxial ferromagnet.