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This paper analyzes and evaluates the performance of digital communication systems that operate over the α-η-μ fading channels. More specifically, we derived novel, unified, and exact closed-form analytical expressions for the cumulative density function (CDF), the moment-generating function (MGF), the average channel capacity, and the average symbol error probability (SEP) for several coherent and non-coherent modulation schemes. Note that the derived expressions are valid for arbitrary values of the fading parameters. The derived expressions are then used to study the implication of the fading parameters on system performance. In addition, the performance over other well-known fading channels, such as η-μ and α-μ, as well as their inclusive special cases, can be analyzed using our results. To validate the correctness of our derivations, the numerical results are compared with Monte Carlo simulation results. Both results are in perfect agreement over a wide range of average signal-to-noise ratio (SNR) and different values of the fading parameters.