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The carrier frequency offset (CFO) effect of a new multiaccess orthogonal frequency division multiplexing (OFDM) transceiver is analyzed. We show that multiaccess interference (MAI) due to CFO can be mitigated by choosing a proper set of orthogonal codes. That is, if we use M/2 symmetric or antisymmetric codewords of the M Hadamard-Walsh codewords, MAI can be greatly reduced to a negligible amount. The new OFDM system has been shown to be approximately MAI-free when there is no CFO. The new result developed here shows that the system continues to be approximately MAI-free even in the presence of CFO. Furthermore, we derive a close form for the reduced MAI, which reveals an interesting property of the system. That is, when the number of users increases, the reduced MAI and the inter carrier interference (ICI) due to self-CFO will decrease. Finally, it is demonstrated by simulation that the proposed OFDM scheme with proper code selection outperforms the OFDMA and the multicarrier code division multiplexing access (MC-CDMA) systems in a CFO environment. [ABSTRACT FROM AUTHOR]