Magnetic properties of cast amorphous and nanocrystalline microwires have been reviewed considering their potential application. Microwires were produced from Co Fe Mn Cr Cu B and Si using the Taylor–Ulitovsky method. Technological aspects of the Taylor–Ulitovsky method for fabrication of glass-coated microwire with different structure are analyzed. Magnetic microwires demonstrate a large variety of magnetic behaviors, which is important for sensing applications. Depending on the chemical composition of the metallic core, for Co-, Fe- and Ni-based composition, the microwires’ properties are very different. The geometrical characteristics (diameter of metallic core and thickness of the glass) of the microwire depend on the physical properties of a metallic composition and of glass and the parameters of the heating inductor and the speed of obtaining a microwire. The diameter of metallic core in these microwires can range from 0.5 to 70 µm, and their thickness of the glass can vary from 1 to 50 µm.