Abstract: In this study, a comprehensive MATLAB simulation based study has been made for the performance evaluation study of a FEC encoded Multi Carrier (MC)-CDMA wireless communication system. The investigated system implements different channel equalization scheme, such as Least Mean Square (LMS), Normalized Least Mean Square (NLMS) and Recursive Least Square (RLS) under four digital modulation schemes (QPSK, BPSK, DPSK and QAM). Although, the iterative LMS and NLMS channel equalization algorithms are being widely used due to their simplicity, robustness and low computational complexity but these schemes are incapable to meet up convergence criteria. The simulation results show that the proposed system with BPSK and RLS outperforms as compared to other digital modulations and channel equalization schemes. It is observed that the system performance deteriorates with increase in order of digital modulation and noise power as compared to signal power.