The deformation behaviour of Zr65Cu20Fe5Al10 bulk metallic glass has been studied at room temperature under uniaxial compression conditions at the strain rate of 5 × 10−4 s−1 and performing jump tests for the strain rates (SR) ranging between 5 × 10−6 s−1 and 5 × 10−2 s−1. The alloy always shows the formation of shear bands and exhibits serrated flow. In the SR range of 5 × 10−6 to 5 × 10−3 s−1 absence of strain rate sensitivity within the experimental error is observed. However, when the SR changes from 5 × 10−3 s−1 to 5 × 10−2 s−1 the alloy exhibits a negative strain rate sensitivity of −0.0026. The number of shear bands on the side view appears to be correlated with the range of stress softening from the maximum stress to the stress at which the sample fails.