Okay.
First of all, you should clearly use a black background while you're working on it. That does not only meet the Blizzard standarts, it also defines the object.
Glows or effects may be attached later then.
Your handle made of wood needs to be a bit more straight. You may also try to partially add a real wooden texture.
The blade itself should use clearer and blending colours to give a more metallic look. May i ask which program you are using?
The little spikes can partially be shaded as well.
Then you could add somekind of little ornament or other decoration if you like.