Oh look a FMA Reference it's not like every other post in this thread isn't already one.

I know,that's why I posted it.lol.All kidding aside,you're theory does make sense.It would also explain why she needs to recharge so much.

Full Metal Alchemist's use of the alchemy/philosopher's stone stuff isn't unique in itself, it just took the already-existing mythology of it. The actual plot of FMA is much different to Wizard. It's like, if you saw Raiders of the Lost Ark and then a movie about the Ark of the Covenant, doesn't meant that latter movie ripped off Raiders necessarily. Unless there's an archeologist fighting nazis. The mythology existed before the first place you saw it in media.

I think it's a likely theory. I'm really hoping the White Wizard turns into the Golden Wizard, that'd be neat.

Of course what I'd REALLY like to happen is Medusa gets annoyed with Wiseman and Gremlin and brings Phoenix back to Earth and they have a big conflict.

Or like if you saw Raiders of the Lost Ark and Dungeons and Dragons....totally different. :P

While I am waiting for my Wizard effects set to do a nice FMA type joke, the only thing I will say is Koyomi is the Philosopher's Stone. The girl has done absolutely nothing at all since episode 6 other than being wallpaper, so that is how they are going to make her character relevant in any manner. If they don't, then she did not even need to be in the show.

And yes, we all know FMA is not the origin of alchemy, but it is the most recent thing to truly focus on alchemy and help gain a lot of interest in it. Besides, it is fun to make jokes, so lay off people that do.

What if all along, Sora is Shou Tucker... o-O

What if the entire aspect is not magic just alchemy? I mean, any time Wizard does a spell it uses a transmutation circle. Not to mention it requires stones to cast these spells. And it does seem like every time Haruto gains an upgrade, he has to give up a part of his soul. Plus, Nitou has to feed the Chimera if he wants to continue living.

Because that hinges on Wizard being FullMetal Alchemist.
Here's a quick spoiler alert. It's not.

My god, just because something uses alchemy does not make it FMA. MagiRanger using magic did not make it Harry Potter.

The concept of a Transmutation Circle is a FMA reference itself.
Transmutation circles don't exist outside of the FMA universe.