Forest boss Sean O'Driscoll is keen to strengthen the squad when the transfer window opens next month and the club are planning to finalise a £200,000 deal for Derry winger McLaughlin while the club are also considering a bid for his Derry team-mate Barry McNamee, who impressed on trial earlier this month.
Cox is currently sidelined with an ankle injury and he believes that competition for places can only benefit the club.
"We would welcome any additions in January, because any signings we make are going to be good signings," said Cox. "There is no way the gaffer would bring a bad player in.
"The club will only bring in players who will enhance the squad, players who will push people all the way to get into the team.
"It will make competition for places even harder, so it will be interesting. But if it makes us stronger, then great.
"I am sure the manager will have ideas about who he wants, I am sure he has a list of possible targets.
"We will see if any come in when January comes, but if they do, we will view it as something positive, because it will only make us stronger," added Cox, who suffered an ankle injury in a clash with Ireland team-mate Kevin Foley when Forest took on Wolves last month, but the 25-year-old is close to a return to action.