What you make it out of is really going to be dertermined by the purpose of the final product. If this is a display piece that will sit on a self, look pretty, and collect dust, then it really doesn't matter what material you make it out of. So what if it's brittle? It's just going to sit on a shelf. However, if this is a stunt piece that will be used for staged fights, then you are going need a blade made of sterner stuff. Rather than casting the blade you might be better off machining blades out of sheet aluminum. They won't stand up to "full speed" combat, but they will be light and cheap for a choreographed fight.
Anothing cosideration: If these are for a costume remember that many cons are starting to forbid metal blades of any type. You would have to use some type of plastic or resin.
Fianlly, must the blade be cast? I've seen some very nice blades created with sandwitched layers of plastic (either ABS or styrene). For longer blades you can even run a metal rod through the center for rigidity.
So, you've got a lot of options. Give us some more information on how you plan to use the finished products and we can give you a narrower field of options to get that result.