I prefer to use a generic "comment/uncomment line or region DWIM" kind of function that works in any major mode.
Generic comment DWIM function
Here is the function I use:
(defun endless/comment-line-or-region (n)
"Comment or uncomment current line and proceed to the next line.
With positive prefix, apply to N lines including current one.
With negative prefix, apply to -N lines above.
If region is active, apply to active region instead."
(interactive "p")
(if (use-region-p)
(comment-or-uncomment-region
(region-beginning) (region-end))
(let ((range
(list (line-beginning-position)
(goto-char (line-end-position n)))))
(comment-or-uncomment-region
(apply #'min range)
(apply #'max range)))
(forward-line 1)
(back-to-indentation)))
Tweaking the bindings for matlab-mode
;; Unbind the M-; key from `matlab-mode-map'
;; `with-eval-after-load' will work in emacs 24.4 and newer versions
(with-eval-after-load 'matlab
(define-key matlab-mode-map (kbd "M-;") nil))
;; For emacs 24.3 and older versions use `eval-after-load' instead
;; of `with-eval-after-load'. Note that `eval-after-load' accepts
;; only a single quoted form.
;; (eval-after-load 'matlab
;; '(define-key matlab-mode-map (kbd "M-;") nil))
;; Define the M-; binding globally
;; This binding will be effective in any major-mode that does not
;; have that major-mode-specific M-; binding
(global-set-key (kbd "M-;") #'endless/comment-line-or-region)