I took an online TEFL course in 2009 so I can offer some advice. Note that I took the course simply to help me decide if TEFL was for me, and having completed it, I then did the CELTA.
Having done a fair amount of research, I went with i-to-i. I did their 120hr combined course (100hrs online and 20hrs in the classroom). With the exception of the classroom element, which I found to be a bit crappy, I enjoyed the course. Later, the things I learned gave me a distinct advantage over my fellow CELTA trainees.
It is worth noting that since I did the course, it has changed somewhat, and as a member of i-to-i's Chalkboard forum, I am aware that many current students are having problems with it. When I did the course I had one dedicated tutor but I believe this is no longer the case - any tutor can mark your work. I had six months in which to complete the course (extensions could be arranged for a further fee) but I understand you now only get three months, which for me would not have been long enough
I can't comment from personal experience as I have found work using my CELTA, but it seems that plenty of online TEFL certificate holders have found work, including those without degrees. There will always be somewhere you can work, but many doors will be closed to you simply because you don't have a CELTA/Trinity CertTESOL.
I understand from your previous post that you simply can't afford to do the CELTA or similar. My advice therefore would be to do the longest online course you can afford, be it 60hrs, 100hrs or 120hrs.