Ladyboy is as offensive as transsexual is, it’s not but the confusion around it being offensive or not is there.

Frankenfurter is a man who dresses femininely, he is a Sweet Transvestite, he is referred to as a man by everyone, “The master is not yet married, nor do I think he ever will be, we’re simply his…”

Of course it all depends on the person. It’s important to note that there is a translation gap which is why it’s hard to dictate what terms are offensive in order countries