The 20-year-old has signed a two-year contract after the two Midlands clubs agreed on an undisclosed fee.
Walsall manager Dean Smith suggested that Forde has plenty to prove.
He told the club website: "He has plenty of potential but at the same time he realises that is only a word and he has a willingness to prove himself here.
"He's a good character with plenty of quality and I am delighted to be able to bring him in."
Forde, who will wear the number 27 shirt for the Saddlers, isn't eligible to play in the Capital One Cup tie against Southend United tonight, but could make his debut on Saturday against Bradford City.