Bobby Reid and Alex Smithies were having medicals on Wednesday ahead of moves to Cardiff City, Sky Sports News understands.
The Premier League newcomers want to sign Reid from Bristol City to boost their attacking options - with reports the fee could rise as high as £10m.
Sky Sports News has been told a fee of around £4m has been agreed with QPR to sign goalkeeper Smithies.
Cardiff manager Neil Warnock is looking to sign a goalkeeper to compete with Neil Etheridge, who helped lead the club to promotion to the Premier League last season.
The 28-year-old, a former England U19 international, signed a three-year contract at Loftus Road in February.
Reid, 25, scored 21 goals from 52 appearances for Bristol City last season after being shifted to a more advanced role from his usual midfield position.
One of those goals was in the Carabao Cup semi-final defeat to Manchester City in January.
It is understood West Brom, relegated to the Sky Bet Championship, made a £7m offer for Reid earlier this month.