The two big signings of Andy Carroll and Stewart Downing have been joined by the free transfer arrivals of Razvan Rat and Adrian, with teenage midfielder Danny Whitehead also moving to Upton Park from Stockport.
Carroll, who spent last season on loan at West Ham, became the club-record buy when he was brought in on a permanent basis from Liverpool earlier in the summer and he was joined by former Anfield team-mate Downing just over a week ago.
The transfer window remains open for another 11 days but Allardyce has admitted any further deals, whether buying or selling, would come as a surprise.
"I've got no money left, I've got the squad I've got, so that's it," he said.
"If there is to be a new player coming in, we have to sell some players but I'm not looking at doing it because I'm happy with the squad I've got at the moment.
"(It is) Unlikely there will be any ins or outs , you never say never, but we're not actively looking for any players to bring in and we're not actively looking to sell any players either."
The window is likely to end with a number of clubs continuing or, in the case of sides such as Arsenal and Manchester United, starting to spend on improving their squads but Allardyce is unmoved and is not worried about the business completed by his rivals.
"I've got no panics going on," he said.
"I'm not anxious about any transfers like a lot of managers will have because we've done all our business as quick as we possibly can and I think we've got a very good squad.
"Other teams are strengthening their squads considerably and obviously spending a lot more than we're spending but that's something you just have to deal with as the season goes on. We'll decide what strength all the other teams are once the window's closed."
The Hammers had been linked with a move for Juventus forward Fabio Quagliarella but the former Newcastle boss, who takes his side to St James' Park on Saturday, knows that will not be happening and that agents play a part in many transfer rumours at this stage of the season.
"Unless the chairman has managed to find out how to find some more money for me without selling anybody I've got at the moment then there's no more players coming in at this moment of time," he said when asked about a potential move for Quagliarella.
"It's not frustrating for me, it's a fact of life. There is a new set of regulations that say you've got a limit on your wages set by these new rules that the owners have decided to put into place. I've hit my limit and that's it, we move on.
"As usual this time of year, agents get busy and will contact football clubs then tell the press what is going on to create a bit of a stir. It has been going on for years and years now."
Record signing Carroll missed the opening game of the Barclays Premier League season, a 2-0 win at home to newly-promoted Cardiff, and will also be absent for the trip to face his home-town club and former employers at the weekend.
But Allardyce confirmed he is close to making a comeback as he looks to start training with the remainder of the squad sooner rather than later.
"Andy has had an injection to finally finish off the last bit of pain and suffering in that area," he said.
"Within the next few days we'll expect him to step up his training, then we'll take it one day at a time from there in terms of his progression.
"I think now it could be pretty quick but it could be something that takes a little bit longer. We just do it day-by-day based on how Andy feels.
"If he's feeling good from the day before, we'll step the training up a little bit more and we do that each day. As long as he's not feeling any pain in that area we step it up until he joins in with the lads."
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- Andy Carroll
- Stewart Downing