Fe-based coatings have been shown to be viable alternatives to the more expensive and less environmentally friendly Co- and Ni-based coatings. In the present work, the microstructural characteristics and corrosion behavior of Fe-based coatings deposited by high-velocity air fuel (HVAF) and high-velocity oxy fuel (HVOF) processes were comparatively investigated. Different sets of powder composition and particle size were used to decrease the porosity and increase the corrosion resistance of the coatings. The corrosion behavior of the coatings was studied using electrochemical techniques, including open-circuit potential (OCP) and polarization tests in 3.5 wt% NaCl at 25 °C. Techniques such as scanning electron microscopy (SEM), energy dispersive spectrometry (EDS), and X-ray diffractometry (XRD) were used to characterize the as-sprayed and corroded coatings. The results revealed that the HVAF coatings had lower porosity and oxide content than the HVOF coatings. The polarization tests confirmed that the HVAF coatings sprayed with finer particle size (− 36 + 20 μm) have higher polarization resistance (Rp) than the coatings produced by powders (− 53 + 20 μm). Based on SEM analysis, it was observed that corrosion initiated and grew through the surface defects of the coating and propagated through inter-lamellar boundaries.