The rules of alchemy state that to gain something, one must lose something of equal value. Alchemy is the process of taking apart and reconstructing an object into a different entity, with the rules of alchemy to govern this procedure. However, there exists an object that can bring any alchemist above these rules, the object known as the Philosopher's Stone. The young Edward Elric is a particularly talented alchemist who through an accident years back lost his younger brother Alphonse and one of his legs. Sacrificing one of his arms as well, he used alchemy to bind his brother's soul to a suit of armor. This lead to the beginning of their journey to restore their bodies, in search for the legendary Philosopher's Stone.
 
Note: Episodes 11, 12 and 37 were adapted from the light novel "Fullmetal Alchemist: The Land of Sand."

Munich, Germany, 1923. Two years have passed since Edward Elric was dragged from his own world to ours, leaving behind his country, his friends and his younger brother, Alphonse. Stripped of his alchemical powers, he has been all this time researching rocketry together with Alphonse Heiderich, a young man who resembles his own brother, hoping to one day find a way back home. His efforts so far had proven fruitless, but after lending a hand to a troubled gypsy girl, Edward is thrown in a series of events that can wreak havoc in both worlds. Meanwhile, at his own world, Alphonse Elric ventures deeper into the mysteries of alchemy in search for a way to reunite with his older brother.
 
(Source: Anime News Network)

Alchemy tore the Elric brothers’ bodies apart. Can their bond make them whole again? 
In this world, alchemists are those who study and perform the art of alchemical transmutation—the science of manipulating and transforming matter. They are bounded by the Law of Equivalent Exchange: in order to gain something, one must sacrifice something of equal value. 
In an alchemical ritual gone wrong, Edward Elric lost his arm and his leg, and his brother Alphonse became nothing but a soul in a suit of armor. Equipped with mechanical “auto-mail” limbs, Edward becomes a state alchemist, seeking the one thing that can restore his and his brother’s bodies...the legendary Philosopher’s Stone.
 
(Source: Viz Media)
 
Note: Includes 8 extra chapters.

1. State Alchemists vs Seven Homunculi 
A 10 minute film featuring: Ed, Al, Mustang and many other members of the State doing battle with the deadly Homonculi in an alternate reality Amestris. 
2. Chibi Party (Enkai-hen) 
Short 6 minute Skit drawn in Super Deformed style where every character in the series (including bad guys) are celebrating an "After Party" of the Conqueror of Shambala movie. 
3. Kids (Kodomo-hen) 
Short 3 minute story which features Edward and his grankids in present day 2005.
 
(Source: Anime News Network)

A reflection on what happened during the FMA TV series.

"In order for something to be obtained, something of equal value must be lost."
 
Alchemy is bound by this Law of Equivalent Exchange—something the young brothers Edward and Alphonse Elric only realize after attempting human transmutation: the one forbidden act of alchemy. They pay a terrible price for their transgression—Edward loses his left leg, Alphonse his physical body. It is only by the desperate sacrifice of Edward's right arm that he is able to affix Alphonse's soul to a suit of armor. Devastated and alone, it is the hope that they would both eventually return to their original bodies that gives Edward the inspiration to obtain metal limbs called "automail" and become a state alchemist, the Fullmetal Alchemist.
 
Three years of searching later, the brothers seek the Philosopher's Stone, a mythical relic that allows an alchemist to overcome the Law of Equivalent Exchange. Even with military allies Colonel Roy Mustang, Lieutenant Riza Hawkeye, and Lieutenant Colonel Maes Hughes on their side, the brothers find themselves caught up in a nationwide conspiracy that leads them not only to the true nature of the elusive Philosopher's Stone, but their country's murky history as well. In between finding a serial killer and racing against time, Edward and Alphonse must ask themselves if what they are doing will make them human again... or take away their humanity.
 
(Source: MAL Rewrite)

The mining town of Xenotime has seen better days. Once renowned for its skilled goldsmiths, it now lies forgotten in a sea of sand, its mines empty and its fields barren. The townsfolk's only hope lies with the talented state alchemist Edward Elric and his brother, Alphonse. But who is the real Edward Elric? When the Fullmetal Alchemist and his brother arrive in Xenotime searching for the Philosopher's Stone, they discover that two strangers have stolen their names and their reputations! Will the real Elric brothers set things right, or will the battle between the true and false brothers shatter Xenotime's only chance for survival? Plus a bonus story, The Phantom of Warehouse 13!
 
 The novel was adapted into an anime in 2003 with episodes 11, 12 (main story) and 37 (bonus story).

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