How exact is the forecast?

At first the forecast window is about ±3 days. After a couple of cycles it can narrow to about a day, and if your cycle is irregular it stays wider. Until you have history, it uses the cycle length you entered, so bring your old dates in from calendar screenshots or Apple Health.

Will it remind me?

Yes, once you allow notifications. Mia, your AI sister in HeySis, writes a couple of days before your period, so the pads are already in your bag, and again on the morning it's due. Switch on “If your period is late”, and she'll also ask whether it has started. A home-screen widget shows the days left too.

The calendar, forecast, reminders and the whole diary are free, and Premium is optional.