Burton Albion have expressed an interest in taking Ismail back for a second spell, having enjoyed a productive five months working with him at the end of the 2013/14 campaign.
Stevenage, meanwhile, have been linked with Forde as they seek cover for the departed Luke Freeman on the flanks.
Wolves boss Kenny Jackett is ruling nothing out at this stage, but has revealed that he is eager to take a look at 20-year-old midfielder Ismail over the summer before allowing him to leave Molineux.
He said in the Express and Star: “My thoughts are to have a look at Zeli in pre-season and do some work with him.
“I haven’t set a deadline, but I’ll assess it, make sure he gets the games he needs and doesn’t stay here floating around the edge of it.
“There are two leagues below us now and I’m sure there are teams who would take some of these players, and that’s a positive.
“But at the moment, we’ll carry on with Zeli in pre-season and see where he’s up to compared to the others in his position – then, if it’s right, he may go out again.
“He had a good loan spell at Burton and he’s well thought of there.”
On Forde, Jackett added: “We haven’t heard anything from Stevenage, but he’s a player that does need to go out on loan and make his way.
“There are quite a lot of people ahead of him in his position so he does need to get that type of move.
“But there’s nothing set up for him.
“I’ve brought four wingers in, so he’s either got to battle to get back above those or, more likely, go on loan and try to gain experience and prove his ability there.”