The iron-phosphorus based bulk metallic glass forming alloy Fe67Mo6Ni3.5Cr3.5P12C5.5B2.5 is characterized with respect to its thermophysical properties, crystallization and relaxation behavior, as well as its viscosity. The alloy provides a high critical casting thickness of 13 mm, thus allowing for the casting of amorphous parts with a considerable size. Calorimetric measurements reveal the characteristic transformation temperatures, transformation enthalpies, and the specific heat capacity. The analyses show that no stable supercooled liquid region exists upon heating. The specific heat capacity data are used to calculate the enthalpy, entropy, and Gibbs free energy differences between the crystalline and the supercooled liquid state. The crystallization behavior of amorphous samples upon heating is analyzed by differential scanning calorimetry and X-ray diffraction, and a time-temperature-transformation diagram is constructed. Dilatometry is used to determine the thermal expansion behavior. The equilibrium viscosity below the glass transition as well as volume relaxation behavior are measured by three-point beam bending and dilatometry, respectively, to assess the kinetic fragility. With a kinetic fragility parameter of D* = 21.3, the alloy displays a rather strong liquid behavior. Viscosity above the melting point is determined using electromagnetic levitation in microgravity on a reduced gravity aircraft in cooperation with the German Aerospace Center (DLR). These high-temperature viscosity data are compared with the low-temperature three-point beam bending measurements. The alloy displays a strong liquid behavior at low temperatures and a fragile behavior at high temperatures. These results are analogous to the ones observed in several Zr-based bulk metallic glass forming liquids, indicating a strong to fragile liquid-liquid transition in the undercooled liquid, which is obscured by crystallization.