In this paper, a review of recent Fe-57 Mossbauer spectroscopy (MS) studies of external influence on the properties of amorphous and nanocrystalline Fe- and Co-based alloys is submitted. Different types of alloys (FeCuNbZr, FeCuNbSiB, FeCoCuNbB, CoFeZrB and CoFeSiB) in the form of original amorphous and nanocrystalline ribbons were subjected to different external factors: different annealing atmospheres, mechanical stress (for example influence of ball-milling) and tensile stress. It will be shown that the Mossbauer spectrometry is a suitable tool for such studies because the measured spectral parameters are very sensitive to the changes in the vicinity of the probe Fe-57-nuclei and thus, this technique provides a wide variety of information about structural and magnetic behavior of Fe-containing materials.