i-to-i offer two types of courses. The first is an online TEFL certificate (of varying hours) with or without a classroom-based weekend element. Note that the weekend element is NOT equivalent to the teaching practice on a CELTA or Trinity CertTESOL as you 'teach' your fellow trainees as opposed to real students.
On completion of the 140hr course you can pay an additional fee to take the EDI CertTEFL, which is a Level 5 qualification and thus is equivalent to the CELTA. Despite this, the course is new to the market so it would be up to you to prove to employers that it is equivalent to the CELTA. Another consideration is location. I think that it's only available in the UK and Australia at the moment, but you would need to check that. See http://www.onlinetefl.com/tefl-courses/ ... ttefl.html
for more information.
Just in case anyone thinks I'm 'pushing' this course I'd like to state that I DO NOT work for i-to-i but I am a fairly regular contributor to their Chalkboard forum.