The results of ab initio calculations of the pressure dependence of Fe magnetism in cubic FeGe are presented. We find that when the pressurevolume scale is set by means of generalized gradient approximation total energies and magnetism is described by means of the local density approximation, the critical pressure at which the magnetic phase transition occurs is estimated at 18GPa, which is in good agreement with experiments. Using the disordered local moment method we find a localized to itinerant model cross-over of Fe magnetism in cubic FeGe, as a function of volume. Moreover, our calculations also suggest subtle signatures of longitudinal spin fluctuations in cubic FeGe, and that the stiffness parameter softens with increasing pressure. We associate the retention of metallicity in FeGe under pressure with the spin-disorder scattering. The effect of spinorbit coupling on the electronic structure is also discussed.