The Al–5.0wt% Cu–0.6wt% Mn alloys with different Fe contents were prepared by gravity die casting and squeeze casting. The difference in microstructures and mechanical properties of the T5 heat-treated alloys was examined by tensile test, optical microscopy, deep etching technique, scanning electron microscope and electron probe micro-analyzer. The results show that both β-Fe and α (CuFe) are observed in T5 heat-treated gravity die cast alloy and only α (CuFe) appears in the squeeze cast alloy when the Fe content is 0.5wt%. When the Fe content is more than 1.0wt%, the main Fe-rich intermetallics is α (CuFe) in both squeeze cast and gravity die cast alloys. The mechanical properties of both the gravity die cast and squeeze cast alloys decrease gradually with the increase of Fe content due to the decreased volume fraction of precipitation particles, the increased volume fraction of Fe-rich intermetallics and the increased size of α (Al) dendrites. The squeeze cast alloys with different Fe contents have superior mechanical properties compared to the gravity die cast alloys, which is mainly attributed to the reduction of porosity and refinement of Fe-rich intermetallics and α (Al) dendrite. In particularly, the elongation of the squeeze cast alloys is less sensitive to the Fe content than that of the gravity die cast alloys. An elongation level of 13.7% is obtained in squeeze cast alloy even when the Fe content is as high as 1.5%, while that of the gravity die cast alloy is only 5.3%.