The structure and magnetic properties of amorphous and nanocrystalline Co56Fe16B20X8 (X = Nb, Ti) alloys have been studied by X-ray diffraction and vibrating sample magnetometry. It is shown that the saturation magnetization of the amorphous Co56Fe16B20Ti8 alloy is higher than that of the Co56Fe16B20Nb8 alloy. The temperature dependence of the saturation magnetization of amorphous alloys is measured and it is shown that the saturation magnetization of the Co56Fe16B20Ti8 alloy decreases with temperature more slowly than the magnetization of the Co56Fe16B20Nb8 alloy. Crystallization of amorphous alloys leads to a decrease in the saturation magnetization of both alloys. During crystallization, BCC nanocrystals are formed in the Co56Fe16B20Nb8 alloy and multiphase structure is formed in the Co56Fe16B20Ti8 alloy.