A person can be a femboy even if he does not wear feminine clothes,.
What does fem boy mean. I think femboys are boys who likes to do feminine things or wear feminine clothes. The term femboy is an artificial and portmanteau word, composed of the two syllables “fem” and “boy”. They don't have to act girly or anything, just the aesthetic matters.
If it is to describe yourself, then as long as you understand its meaning and potential interpretation, there is no reason why you can’t use it, or for others not to respect it. I realised i didn't answered your question. “fem” stands for the word feminine.
Femboy as a noun means a young man who adopts a feminine aesthetic. According to collins dictionary, the word “femboy” means an adolescent male whose appearance and behavioural traits are regarded as conventionally feminine. Sometimes used as an insult
Boy, in turn, refers to a young. I personally insist that femboy is defined as any male that dresses in feminine clothes. A very feminine man, usual gay and a bottom, who stereotypically speaks with a high pitched voice.