Bulk metallic glass (BMG) formations in Co- and Fe-based alloy systems are investigated by using our cluster line approach in combination with minor alloying principle. Basic ternary alloy compositions in Co–B–Si, Fe–B–Y, and Fe–B–Si systems are first determined by cluster lines defined by linking special binary clusters to third elements. Then the basic ternary alloys are further minor alloyed with 3 to 5 at.% Nb to improve glass-forming abilities (GFAs) and ϕ3 mm BMGs are formed in (Co8B3–Si)–Nb and (Fe8B3–Y)–Nb but not in (Fe8B3–Si)–Nb, TM8B3 (TM = Fe, Co) being the most compact binary cluster. The BMGs are expressed approximately with a unified simple composition formula: (TM8B3)1M1, M = (Si, Nb) or (Y, Nb). Finally, mutual Fe and Co substitutions further improve the GFAs as well as the soft magnetic properties, e.g., Is reaching 0.98 T and Hc < 6 A/m for the Co–Fe–B–Si–Nb BMGs. Using the (cluster)1(glue atom)1 model, a new ternary BMG Fe8B3Nb1 is obtained.