For any electronic communication system bandwidth utilization and BER performance under different channel conditions are major aspect of consideration, to cope up with these conditions different modulation technique are used one of them is MC-CDMA (Multicarrier Code Division Multiple Access) which outperforms other techniques for bandwidth utilization and performs well under noisy and fading channels, as theoretical derivation states. This paper presents a comprehensive analysis of MC-CDMA system over the AWGN (Additive White Gaussian Noise) and Rayleigh channel for different number of subcarrier and different number of users, system analysis is performed by simulating the MC-CDMA using MATLAB program, and finally the paper also presents a comparison between simulated and theoretical results.