We have studied the magnetization in fields up to 1T at 5K, the saturation magnetization dependence on temperature and the temperature dependence of AC-susceptibility at very low fields (5mOe to 50mOe) of glassy $Fe_{91-x}Zr_{7}B_{2}Ni_{x}$ (x = 0, 5, 10, 15) alloys. The temperature dependence of the magnetization follows the predictions of spin wave excitations with long wavelengths. At zero Ni concentration there is a clear competition between ferromagnetic and antiferromagnetic interactions giving rise to spin-glass behaviour. The addition of Ni drastically modifies the magnetic properties: the antiferromagnetic exchange coupling is reduced and finally disappears, the spin wave stiffness increases from 39.5 to $87.3;meV{AA}^{2}$ and To increases from 230 K to 478 K. We develop a simple model to quantify the competing interactions and to relate the antiferromagnetically coupled Fe moments to the Ni concentration. We find that the initial susceptibility increases with increasing Ni content along with a decrease of the temperature dependence.