TinyMCE gives BBCode codes/tags, not HTML

I.e. I have problem with the 'B' icon which bolds the text when clicked. It gives [b][/b] when it should be <b></b>, because with [b][/b] in Full HTML all content is outputted together with [b][/b] which is wrong. Each time I have to reedit it manually and replace it to HTML tags to make it work.

Other features like setting Font family and etc. works fine, it gives valid <span></span> tags and etc.

I use WYSIWYG 7.x-2.2+17-dev and TinyMCE 3.5.8 (I tried latest 4x version, but it is not recognized but this module).