Rechargeable magnesium ion batteries are interesting as one of the alternative metal ion battery systems to lithium ion batteries due to the wide availability and accessibility of magnesium in the earth's crust. On the one hand, electrolyte solutions in which Mg metal anodes are fully reversible are not suitable for the use of high voltage/high capacity transition metal oxide cathodes due to complex surface phenomena. On the other hand, Mg metal anodes cannot work reversibly in conventional electrolyte solutions in which high voltage/high capacity Mg insertion cathodes can work because of passivation phenomena that fully block them. Replacing Mg metal with alternative anodes that can work reversibly in conventional electrolyte solutions could provide a promising route to elaborate high voltage and high capacity rechargeable Mg battery systems. Herein, the recent progress in alloy anodes based on group IIIA, IVA, VA elements is summarized. The theoretical evaluations, achievable capacities, synthetic strategies, battery test configurations, electrochemical properties, and underlying reaction mechanisms are systematically summarized and discussed. The key issues and challenges impeding their current use are identified and some valuable suggestions for their future development as practical reversible anodes for Mg batteries are provided.