Some time ago before I created this thread I wrote a piece on the 3 types of "third sex" available. So to me there are Lboys, Trannies and Cross dressers. Each type has pros and cons.
To me a true Lboy is one who has the boobs fake or not ala your typical Thai Lboy. Trannies as the name suggest are transitioning from male to female. Trannies, I feel genuinely want to be a girl. Trans girls that are often transitioning are called Femboys.
Cross dressers are usually your suss ones - sometimes gay guys who are trying earn their keep. With all types we talk about being "passable" meaning can they pass for female or not.
Now take Candice who advertises on E&B - yes a crossdresser, yes no boobs but found her quite good. Another Jessica, Id say a Trans, once again no boobs but worth a punt. Bella and Vivi are two other trannies that are worth a visit, but no boobs. Cha Cha a noted good performer at Aroma Thai some time ago had no boobs. If a straight girl has A cup boobs is she a girl - obviously yes.
To answer your question - I think a very small % are gay guys - there is a gay guy who was around Logan who was trying it on but soon got the hint clients were not impressed.

Interestingly some time ago i did a test on myself and booked into a M2M massage. I thought I would test the notion "was I possibly gay?" I can say that I didn't enjoy the session and wasn't the slightest bit turned on by another man.

I monger straight girls as well and find the two criteria for me are: when I look at them do I see a female and how into it are they. And thats where the third sex hits the jackpot - esp OS - they are so sexy, horny, dirty.

Prof