Due to many special characteristics of OFDM it has been widely applied in various applications. Besides exponential transforms some other transforms like DCT and Wavelet can also be used in OFDM. Since last decade DCT is going to be a good alternative as it is a real transform hence less complex. In very recent scenario telecommunication industry has been attracted towards the wavelets. Wavelet applications are finding a way in which their performances match the current system for example in communication system. In this paper Computer simulation using MATLAB 7.0 has been used to analyze the performance of FFT, DCT and WPT OFDM in terms of bit error rate. All the simulations have been done using AWGN and Rayleigh channel. Along with it mapping schemes used in these simulations are BPSK, QPSK and Pi/4 DQPSK.