Visual Studio Online has a set of granular permissions that you can set at the Git repo and branch level.
- Administration - repo and branch
- Create a branch
- Contribute - repo and branch
- Record management
- Read
- Force Push (rewrite and destroy history) - repo and branch
- Tag creation
You can create custom security groups in your team projects and then assign permissions to them. There are built-in security groups that you want (for example, Contributors ) to ensure that you do not provide additional permissions for users than what you want for them, so make sure you look at it more widely. For example, you can start removing permissions from the Contributors security group and start adding permissions to other custom security groups. The main thing is that you can configure permissions to achieve your goals.
Here is more information about the permissions available for Git repositories at http://msdn.microsoft.com/en-us/library/ms252587.aspx#Git . Look up at the security overview in TFS in general.

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