Achieving carbon neutrality and slowing down global warming requires research into  the electrochemical CO reduction reaction (CORR), which produces useful compounds. Utilizing renewable energy to meet carbon-neutral energy goals produces single-carbon (C) and multi-carbon (C) goods. Efficient and selective electrocatalysts are essential to advancing this revolutionary technology; bimetallic Fe-based catalysts work better than their monometallic counterparts because multiple metals work synergistically to reduce CO levels. A thorough summary of recent developments in the synthesis of Fe-X bimetallic catalysts will be provided in this review, with an emphasis on key performance indicators like stability, faradaic efficiency, potential, current density, and primary product production. In addition, this analysis will look at representative instances of Fe bimetallic catalysts that are well-known for their selectivity in generating particular alcohols and hydrocarbons, clarifying the mechanics behind CO reduction, pointing out existing difficulties, and examining the potential of electrosynthesis processes in the future.