For that budget (I assume that that's American, because you can get nothing if that number is in Canadian or Australian dollars), I have heard reasonably good reviews of Starfire swords
and The Paul Chen Practical line
However, neither of those are actually designed for real cutting or combat. If you really want to get a sword, wait, save double that amount, and get a good quality one, either a Bugei
blade for traditional Japanese weapons, or an Angelsword
for Western, Chinese, and non-traditionally mounted Japanese blades.