Amorphous alloys were first developed over 40 years ago and found applications as magnetic core or reinforcement added to other materials. The scope of applications is limited due to the small thickness in the region of only tens of microns. The research effort in the past two decades, mainly pioneered by a Japanese- and a US-group of scientists, has substantially relaxed this size constrain. Some bulk metallic glasses can have tensile strength up to 3000MPa with good corrosion resistance, reasonable toughness, low internal friction and good processability. Bulk metallic glasses are now being used in consumer electronic industries, sporting goods industries, etc. In this paper, the authors reviewed the recent development of new alloy systems of bulk metallic glasses. The properties and processing technologies relevant to the industrial applications of these alloys are also discussed here. The behaviors of bulk metallic glasses under extreme conditions such as high pressure and low temperature are especially addressed in this review. In order that the scope of applications can be broadened, the understanding of the glass-forming criteria is important for the design of new alloy systems and also the processing techniques.