Here is a list of the best training equipment that I've found for the type of training that we do. This is by no means the complete list of acceptable training tools, simply the ones that I've found to work the best for our classes. The equipment is presented in the recommended order of purchase as well.
Feders are the ideal tool for training as they offer the most realistic sense of how swords interact. Often the value of a technique is only obvious when using steel swords since the steel has a specific feeling as it slides along another piece of steel, and the flexibility of a Feder gives it a feel that cannot be properly recreated with wood or synthetic blades which are either to stiff or too slippery for proper understanding of technique.
The Feder I recommend personally is made by Darksword Armory. Their earlier swords had some issues but their current production line is quite excellent. I would recommend requesting that they round the Schielt when you order. The hilt also has a round section which I dislike, however it is a relatively easy thing to replace the handle. Otherwise I find these Feders to be of excellent quality.
Ensifer apparently these are quite stiff, so be aware of that. I don't have personal experience with them, so I can't give any advice first hand.
Arms and Armor make a variety of training swords (I'd stick to the ones with 'fecht' at the beginning of their name) however they are a bit pricey. I've heard good things about them, but haven't had the chance to handle one personally.
There are others viable options available, if you would prefer them let me check them out to make sure they will be safe for our style of training.
Wasters are an important training tool that help to condition the body of the martial arts practitioner. They are useful for basic drills, pellwork, and their extra weight make them ideal for building up the endurance necessary for competition. They are useful for early and advanced training but lack the spring and feel of a proper steel Feder and are somewhat limited in what they can do for serious drilling, however they are significantly cheaper than a Feder. I recommend getting one if you cannot afford a Federschwert so that you can practice the movements outside of class.
I make wasters which are available for $80 CAD. I make them out of hickory or ash for impact resistance and shape them by hand to meet class training requirements. I usually have them ready two weeks after they have been ordered.
These excellent wasters are weighted towards the point, which makes them feel slightly heavier than steel training swords and helps build endurance and makes some mechanics easier to feel. The downside is that with shipping and conversion they come out to around 150 ish CAD, and can take three weeks to a month to arrive.
There is an alternative that Reliks offers, which ships sooner from a Canadian retailer, but unfortunately the wasters are of lower quality, being both lighter and shorter than is ideal. This primarily makes them more difficult to use properly against the higher quality ones, but they are an alternative option.
Fencing masks are incredibly important for more advanced training as they allow for light strikes to the your partner without risk of harm. There are several varies available, from a wide range of retailers, any of the 350 newton variety are acceptable. Personally I prefer the PBT mask as it is extremely comfortable.
Here are a couple other places that sell them:
Fencing Jackets are important for freeplay with cuts as they provide some much needed padding. They are really the last thing to buy this is a very late aspect of training. I like the Spes jacket because the armpit gussets let you lift your arms easily and they look good, but there are many available. I recommend you shop around for the best price and a style you like. The most important aspect is the padding and durability they provide however, so look for those qualities and read reviews of the product.