The composition WC-(W, Cr)2C-Ni is one of the standard hardmetal compositions used for the preparation of thermally sprayed coatings by high velocity oxy-fuel (HVOF) spraying. Surprisingly, this composition has been poorly investigated in the past. Frequent use of the commercial designations WC-“CrC”-Ni, WC-Cr3C2-Ni, and WC-NiCr indicate the insufficient knowledge about the phase compositions of the powders and coatings. In this paper, the processability of five commercial feedstock powders was studied. These feedstock powders were of different origin and were sprayed with two different liquid-fueled HVOF systems (K2 and JP-5000). The microstructures and phase compositions of the powders and the coatings were studied. Focus was on the appearance, composition, and distribution of the (W, Cr)2C phase, which is either formed or changes its Cr/W ratio during the spray process. The composition of the (W, Cr)2C phase was estimated from the lattice parameters. Hardness, density, and Young’s modulus were determined for the coatings. Additionally, the abrasion wear resistance of the coatings was studied. Unlike WC-Co and Cr3C2-NiCr, WC-(W, Cr)2C-Ni is not a simple binary hard phase-binder metal composite. The excellent properties of this composition, for instance, its oxidation and corrosion resistance, will surely attract more attention to this composition than it has in the past.